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Financial woe as clubs face £1bn loss

PREMIER League clubs are set for a loss of £1billion in revenue in their 2019-20 accounts due to the coronavirus pandemic, financial services firm Deloitte has predicted.

Deloitte says top-flight sides face a permanent loss of £500million made up of rebates to broadcasters and loss of matchday revenue from the suspension. But a further £500m missing off 2019-20 balance sheets will be deferred and recouped in 2020-21 if the competition is able to complete this season and next.

Clubs are forecast to earn around half of what they normally would in matchday revenue in 2020-21, with that estimate of £350m set to be lost if fans cannot return at any stage.

The grim picture comes against the backdrop of clubs posting record revenues for 2018-19, with the Premier League combined revenues topping £5billion for the first time.

Dan Jones, the head of Deloitte’s sports business group, said: ‘We expect the ongoing Covid-19 pandemic to cause significant revenue reduction and operating losses across European football in the current season’s financial results. Clubs are having to weather multiple financial impacts.’