Prem clubs already in the red BEFORE £1billion coronavirus hit as top-flight’s shocking financial state revealed

THE MAJORITY of Premier League clubs were facing huge losses BEFORE the coronavirus crisis.

Of the 20 clubs in England’s top flight, TWELVE went into the 2019/20 season in the red.

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Chelsea chief Roman Abramovich will want some silverware if he is to put up with financial deficitCredit: Getty – Contributor

SunSport reported how Premier League supremo Richard Masters says top-flight clubs stand to lose £1BILLION from the pandemic.

Manchester United will be the biggest financial losers of all 20 Premier League clubs if the season is scrapped.

Overall, according to figures from the Daily Mail, the Old Trafford club would lose £116.4m.

That is made up of £48m from TV cash, £17.6m for matchday revenue and a further £50.8m from commercial and retail.

And now The Athletic have studied all the club’s accounts, taking into consideration figures from 2017/18, to work out club’s respective finances heading into the current season.

Everton owner Farhad Moshiri has bankrolled some pretty extensive rebuildingCredit: Getty

And it makes for grim reading.

Over half of the clubs were in the red before a ball was even kicked this season, according to the research.

Everton and Chelsea fans won’t like looking at the stats – the Toffees are the hardest hit with a loss of £107m with Roman Abramovich footing a £101.8m deficit at Stamford Bridge.

As a result of the coronavirus, you can add in losses of £91m for Chelsea and £42.6m for Everton for the current suspension.

Aston Villa are also chasing their tails with a £68.9m loss with £24.2m added on to that as a result of the virus.

At the other end of the spectrum, Tottenham and Liverpool, two clubs who recently announced plans to furlough staff, were sitting pretty on profit heading into the campaign.

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Spurs come in with £87.4m in the black, while Liverpool, after being blasted for furloughing and then reversing that decision, are £41.9m positive.

But an £83m loss for Daniel Levy’s Londoners and an £102.6m deficit for US-owned Liverpool means both won’t come out well from the pandemic.

Speaking to The Athletic John Purcell, the co-founder of financial analysis firm Vysyble pulled no punches in his analysis of the state of English football.

He said: “The accounts are awful. The numbers had fallen off a cliff for some of the clubs long before this crisis.”

And Dr Dan Plumley, a sports finance expert at Sheffield Hallam University, added that “the financial shock of COVID-19 has brought to light just how stretched the industry is and how many clubs live from hand to mouth”.

This ties in with Premier League executive Masters’ opinion, believing that there is a real danger some teams could go bust if the lockdown forces the cancellation of the current season.

Tottenham, Newcastle, Bournemouth and Norwich have already turned to the state for help.

And FA chairman Greg Clarke fears the sport is in danger of being “decimated” by the coronavirus crisis.

It came after a dramatic weekend when the Prem demanded PFA  members  agree a 30 per cent wage deferral but the bid was rejected.

FA chief Greg Clarke claims England football could be decimated by coronavirusCredit: PA:Press Association

Source: Soccer - thesun.co.uk