Premier League clubs lose nearly £ 1billion in 2019/20 as payrolls and finances released
Premier League clubs have lost nearly £ 1bn in the 2019/20 campaign, according to their latest published accounts.
Newcastle United last week became the latest Premier League club to publish their 2019/20 season accounts, recording a pre-tax loss of £ 22.5million during the season.
The Magpies’ contribution brought the total losses recorded for all the top flying clubs to a whopping £ 979.3million in the season hit by Covid-19, which wreaked havoc on clubs from March.
Only Chelsea have managed not to lose England’s traditional ‘Big Six’, with the club recording a profit of £ 35.7million in part thanks to a transfer ban that lasted until February 2020.
Sheffield United (£ 18.8million), Norwich City (£ 2.1million) and Burnley (£ 0million) were the only others to follow suit.
This happened despite the fact that Premier League clubs won a total of £ 4.5bn in the campaign, demonstrating mismanagement, overspending and the obvious impact of the coronavirus.
Fans were not allowed to attend games from early spring due to foreclosure measures resulting in clubs missing out on substantial sums they expected to receive when planning for their finances.
Big clubs Manchester United (-20.8 million pounds), Arsenal (-47.8 million pounds), Liverpool (46.3 million pounds), Tottenham Hotspur (67.7 million pounds) all struggled as Manchester City and Everton were the only two to lose over £ 100million.
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Skyrocketing player salaries seem to be a big issue in modern football, with several foreign clubs also struggling to stay competitive while avoiding financial problems.
Barcelona are the prime example, having failed to field several new signings this transfer window and being forced to part ways with their all-time greatest player, Lionel Messi, due to his runaway payroll.
Inter Milan also faced financial hardship due to overspending amid a difficult coronavirus climate and were forced to sell Achraf Hakimi and talisman Romelu Lukaku months after winning their first Scudetto in a decade.
The report also highlights a potential reason why the ‘Big Six’, along with clubs like Barcelona and Inter, wanted to join the European Super League (ESL) in April, with pledges of huge additional funds through the project. supported by JPMorgan.
With ESL on the back burner for now, big clubs could post even bigger losses for the 2020/21 season where stadiums were empty for most of the season, although broadcast deals still hold sway. master.
Get your hands on your club’s annual 2021/22 special edition. Find out more here.