FA boss Bullingham reveals bleak future with coronavirus losses potentially hitting £150MILLION

FA BOSS Mark Bullingham has laid out the bleak future facing the governing body.

The FA’s chief executive confirmed SunSport’s story yesterday that the organisation’s losses due to the coronavirus crisis are certain to be over £100million — and could even reach £150m.

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Mark Bullingham has confirmed FA losses could be around £150m due to coronavirus

England manager Gareth Southgate, who earns £3m a year, and women’s team coach Phil Neville, whose salary is £300,000, are both taking 30 per cent pay-cuts for at least the next three months.

The FA is counting the cost of being unable to stage any events at Wembley for the foreseeable future.

Bullingham, who will also take a 30 per cent hit on his £400,000-a-year wage, said: “We’ve taken an immediate and significant financial impact due to the postponement of England internationals, Emirates FA Cup matches and Wembley events, and there is currently no clear timescale on when they will return.

“The total financial impact is currently forecast to be around £100m, but it could easily exceed £150m depending on the duration of the Government’s necessary medical measures.

“Along with many other organisations across the country, we are currently reviewing our financial model during this challenging period.

“We want to take prudent and appropriate steps to help protect and support the FA and our employees during this unpredictable time.”

TEMPORARY CUTS

Bullingham continued: “We are proposing that all employees earning £50,000 or more per annum will take a temporary pay reduction of 7.5 per cent.

“In the spirit of those on higher salaries taking the greater responsibility, the senior management team have agreed to cut their pay by 15 per cent, with the highest earners in the organisation agreeing to reduce their pay by up to 30 per cent.

“We are also looking into what options are available to us through the Government’s furlough scheme as a contingency plan, while we continue to plan for the return of football, once it is safe to do so.

“These are extraordinary and challenging times and we do not take these decisions lightly. However, as an organisation we will support each other as best we can.”

The FA is a not-for-profit organisation so the cuts will hurt grass-roots football badly.

Other organisations due to be staged at Wembley were the EFL play-offs, non-League finals day and the rugby league Challenge Cup final.

Two summer concerts and the Community Shield are also in doubt.

Uefa, meanwhile, are expected to offer financial assistance to host cities who were due to stage Euro 2020. The championships will now be held next year.

Source: Soccer - thesun.co.uk