Premier League Could Lose £1bn Over Coronavirus Lockdown
The Premier League and its clubs could lose £1 billion due to the coronavirus lockdowns, according to the league’s CEO Richard Masters.
Professional football across the country is suspended with social distancing measures in place, imposed by the government. The Premier League – along with The FA and The EFL – have suspended matches and said that no football will take place until it is ‘safe to do so’.
In comments made in a letter to Julian Knight, Chair of the Digital, Culture, Media and Sport Committee, Masters said: “We face a £1 billion loss, at least, if we fail to complete season 2019-20, and further losses going forward if the seriousness of the pandemic deepens and extends into the future.”
In his letter, Masters also defended football clubs, such as Tottenham, Newcastle United, Bournemouth and Norwich City who have availed of the government’s Coronavirus Job Retention Scheme to furlough staff.
Masters said: “The furlough scheme announced by government is meant for the whole economy, including many enterprises which might be regarded as providing entertainment or otherwise dependent on elite talent.
“We do agree with you that restraint needs to be shown by all and we and our clubs are doing just that. Individual clubs will need to make these decisions based on their own forecasts as each club will have its own unique position.”
Previously, Liverpool had also been one of the Premier League clubs to furlough non-playing staff, but reversed its position in a letter to its fans, where it also apologised for having planned to do so.
