One of the wealthiest football clubs not only in England but across Europe, Manchester United, have incurred huge financial losses due to the stagnancy of football amid coronavirus crisis. Manchester United have recently released some data of the grand financial debts and losses that the club has had to suffer from due to COVID-19.
Premier League clubs have scrambled to save cash, with some forced to furlough staff. Players are now back in training with the hope that matches can take place behind closed doors from next month. Premier League clubs have agreed to resume training and the players have already begun training from May 18.
However, with no revenue generation from ticket sales even further, things do not look good for the clubs until next year.
Manchester United Suffer Huge Loss In Revenue Due To COIVD-19
Chief financial officer Cliff Baty said they are set to hand back £20m in TV revenue to broadcasters even if the Premier League season is completed. United lost an additional £8m over the final three weeks of March when they had three matches postponed. A total of 11 United matches have been postponed because of the pandemic.
“Operationally, the impact of the pandemic and measures to prevent further spread continue to disrupt… businesses in a number of ways, most significantly in broadcasting and match day operations,” the company said in a statement.
Bundesliga Became The First European Football League To Resume Proceedings
Global footballing action had gone into a standstill after the outbreak of the coronavirus pandemic. Bundesliga became the ice-breaker as it resumed its campaign from Saturday. Although the fans weren’t behind their teams as the campaign resumed, the players ensured that they were all set and ready for the task they had been waiting for days.
Empty stadiums, distant celebrations, masked substitutes, and the sound of the ball piercing the net, that’s how European football marked its return when Bundesliga continued their campaign after a break of almost two months because of the coronavirus outbreak globally.