BURNLEY chairman Mike Garlick has warned they will go BUST in August if the football lockdown has not ended by then.
The Clarets boss revealed they stand to lose £50MILLION if the current season is cancelled — and warned other Premier League clubs face losses of as much as £100M.
Burnley are warning they could go bust if the season is cancelled and they miss out on TV cash and lost revenueCredit: PA:Press Association
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Garlick said the situation is so dire that his club — one of the best run in the top flight — will be potless later this summer unless the deadly Covid-19 pandemic has eased by then.
He said: “The fact of the matter is, if we don’t finish the season and there isn’t a clear start date for next season, we, as a club, will run out of money by August. That is a fact.
“I can’t speak for other clubs, I don’t know their financial positions.
“All I can speak for us our club and our position.
“That’s why we’re very determined that when of course it is safe to do so, we really want to finish this season.”
Garlick, speaking to Sky Sports News, added: “We voted unanimously to finish the season, so it’s clear everyone wants to get the job done.
“It is crystal clear that finishing the season is by far the best outcome for all the Premier League clubs.”
The 20 Prem clubs still hope to complete the campaign, even if that means playing behind closed doors and cramming the remaining fixtures into the spell of a few weeks.
Yet the longer the lockdown goes on so long, the greater the fear they will eventually have to admit defeat and call if off.
That will cost top flight clubs a fortune in lost revenue – especially those without megarich benefactors – plus the possibility of having to repay TV money to rights holders.
In Burnley’s case that means around £5 million in lost revenue from the remaining home games.
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Failure to finish the season means it is highly unlikely it could be recouped, owing to the likely prospect of these fixtures being played behind closed doors.
Missing out on cash payments from the Premier League would be a hit of up to £45 million in broadcasting revenue and other items, while for some others it could be double that.
Garlick continued: “It’s a completely unprecedented situation facing us and other Premier League clubs that no-one could have foreseen just a few weeks ago.
“It’s not just about Burnley, it’s the whole football ecosystem from the Premier League downwards and all the other businesses and communities that feed from that ecosystem.
“As a club, fans, staff members and a town, we are all in this together and I’m sure we can get through by sticking together and helping each other in every way possible.
“We all need to do our bit, however small.”
A Burnley statement added: The club is keen to be transparent with supporters, staff and stakeholders.
“It is therefore able to confirm that due to the continued suspension of Premier League games this presents some significant challenges for the football club.
“Burnley FC are set to lose around £5 million in lost revenue from the remaining home games which in the event that the season finishes would be unlikely to be recouped owing to the likely prospect of these fixtures being played behind closed doors.
“In addition, the Clarets face missing out cash payments from the Premier League of up to £45 million in broadcasting revenue and other items if the season is not finished.
“It is believed that other clubs could be looking at up to a £100m shortfall.”
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Burnley’s admission comes after yesterday’s stark warning from West Ham vice-chairman Karren Brady in her SunSport column that clubs could be “ruined” by the current crisis.
Urging the PFA to reach an agreement on pay deferals, she said: “Across the country all football clubs’ operations have effectively ceased. There is no matchday revenue, no sale of season tickets for next season, no retail outlets open and online retail businesses have closed as it is not essential work.
“With no date for restarting the league, this is having severe financial implications. Without any revenue — and no games being played — how on earth do we ensure the ongoing business survives? And, take it from me, unless a pay cut is put in place a number of clubs will be ruined.”
Health Secretary Matt Hancock calls on Premier League footballers to take a pay cut during coronavirus battle
Source: Soccer - thesun.co.uk
