Coronavirus pandemic set to cost Premier League clubs £1 billion in 2019-20 season

The ongoing coronavirus pandemic has hit the Premier League on a large scale over the last three months. The English top flight was suspended in March after Chelsea's Callum Hudson-Odoi and Arsenal manager Mikel Arteta both tested positive for the COVID-19 virus. Since then, Premier League players, managers, and non-playing staff have been forced to remain at home in order to curb the spread of the virus. However, the league is set to resume next week as health authorities have given PL officials the green light to go ahead with the remaining fixtures in the 2019-20 season. A recent report from finance firm Deloitte revealed that Premier League clubs could stand to lose a combined £1 billion in financial revenue this season in the aftermath of the coronavirus pandemic.

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Coronavirus pandemic set to cost Premier League clubs £1bn in 2019-20 

Since the league was suspended, various top-flight clubs were forced to put certain members of staff on furlough in order to avail the government's financial subsidies. Premier League clubs have lost a massive amount in revenue since the coronavirus pandemic first began wreaking havoc in the UK. A recent report from Deloitte revealed that the coronavirus pandemic could cost English top-flight clubs up to £1bn in losses this season. The Deloitte report claimed that £500m of the reduction for Premier League clubs - in rebates to broadcasters and a loss of matchday revenue - will be "permanently lost". Premier League players must expect a salary cap to be introduced sooner rather than later as clubs look at the long-term future and financial sustainability.

The report adds that whatever amount remains will be "deferred" until 2020-21 if this season and the next are completed. Manchester United earlier claimed that the coronavirus pandemic has already cost them north of £28 million in losses. However, they expect that number to be much higher as the season draws to an end in the next couple of months. Previously, the 20 top-flight English clubs had registered profits above a combined £5 billion for the first time in the league's history. 

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The coronavirus effect on football has been seen in leagues across Europe and not just England. Bayern Munich chairman Karl-Heinz Rummenige admitted that it will be hard for top European clubs to survive if fans are not brought back into stadiums soon. In a recent podcast, Rummenige was quoted as saying, “We will have to wait and see how this curious transfer market after coronavirus develops. We all do well to do our job and also take into account that the next season may be more financially challenging than the current one. The longer we have to play without a spectator, the more difficult it will be financially."

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