Published 18:59 IST, September 24th 2020
Man United set to lose £140 million, Arsenal could lose £120 million amid Covid crisis
Man United COVID-19 loss could amount to £140million while Arsenal have been warned to expect losses over £120 million if football goes on behind closed doors
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Manchester United COVID-19 loss could amount to £140 million while Arsenal have been warned to expect losses of over £120 million if football goes on behind closed doors. Manchester United face the biggest projected lost income, of £140 million, the club that is proportionately most impacted is Arsenal, only a few clubs make as much money as the Gunners do on a matchday and now that is totally lost due to the matches being held behind closed doors.
Man United set to lose £140 million due to COVID-19 crisis, Arsenal could lose £120 million
The potential damage caused by COVID-19 is very worrying. If supporters are unable to attend matches for the entirety of the current season, which is not out of the question, a huge section of income will be completely lost. According to Arsenal’s most recent accounts for 2018-19, that matchday section of income amounted to almost a quarter of all revenue. Manchester United too are expected to lose a big amount in tickets. However, Man United have more income than the London club from commercial revenue streams.
To combat losses of an entire season behind closed doors, if that happens to be the case, the club will have to make a significant reduction in costs and which is why Man United or Arsenal haven't made big-money signings in comparison to their counterparts in the Premier League.
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According to the Arsenal Supporters' Trust, they have delved into the figures to estimate potential losses of £120m- £144m if the situation does not improve. While Man United find themselves in a similar position. Premier League clubs are pushing for fans to return to stadiums but a second coronavirus wave threatens to slam the door.
Arsenal has already made 55 staff members redundant amid the pandemic, with the bulk of the squad agreeing with a wage cut. The only way ahead for Man United or Arsenal would be via a loan or new capital. If 2020-21 is played fully behind closed doors, there will be no matchday revenue and this can cause Man United revenue to drop substantially and same is the case with Arsenal.
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Borussia Dortmund star Jadon Sancho has been Man United's top target all through the summer but Borussia Dortmund have played hardball over his fee, and it looks like he’ll be staying put. In other Man United transfers news, Chris Smalling could be on his way to Inter Milan while Ousmane Dembele is being linked with a move to Old Trafford. Man United revenue has been hit and the club is playing it carefully and will hope fans accept that.
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Image: Arsenal Twitter
18:59 IST, September 24th 2020