FA set for £300m slump due to COVID-19, to declare downsizing and £75m budget cuts: Report

The Football Association (FA) are reportedly close to confirming a substantial number of job cuts in order to plug their massive losses caused by the coronavirus UK crisis. The FA job cuts would then see football's governing body in England block up the £300 million black hole which has been caused due to the coronavirus UK situation. Reports also claim that the FA are in the final stages of approving a number of budgetary constraints with the newly allocated forecast at a reported £75 million. The final decision of the FA job cuts are expected to be announced later this week. 

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Coronavirus UK: FA job cuts worth £300 million?

With the world of sport reeling from the coronavirus pandemic, the FA has reportedly taken a decision to offload a number of employees in their organisation. According to reports from Sportmail, the FA are looking at a massive loss between £100 million - £300 million due to the coronavirus UK crisis which has affected the financial aspects of football in the UK. The loss of income from the lack of sporting events at Wembley have also added to the financial losses for the FA. 

Games being held behind closed doors have led to the loss of matchday income and the commercial revenue has also taken a hit. The FA have reportedly taken on extra borrowing in order to spread those substantial losses over the course of the next four years.

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Although the budgets for some football sectors are set to cut down to a reported £75 million, some budgets including women’s football are among the areas understood to be 'ring-fenced'. Reports also claim that there are vast amounts of funds available for clubs in the Premier League and the FA budget might not have an impact on the top tier. Similarly, due to the relatively low-costs attached to grassroots football at a low level, those areas are expected to take less of a hit. However, the operational changes through the jobs at FA are understood to be inevitable.

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Coronavirus UK: COVID-19 cases in the UK

Liverpool were crowned Premier League champions on Friday night but there were a number of fans that ignored the social distancing protocol as the Reds enthusiasts took to celebrate on the streets of UK. According to reports from Worldometer, the COVID-19 cases in UK have crossed 311,150. There have been a total of 43,550 coronavirus-related deaths in the UK so far. 

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Image Credits - AP