The majority of football clubs across Europe have taken a hard hit on their profits due to the Covid-19 pandemic. Moreover, in the absence of fans inside stadiums, clubs have hardly managed to generate revenue that they received from ticket sales.
The Premier League clubs are no different. Even if we leave aside the smaller clubs, the ‘Big 6’ as we know them have also failed to create a stable financial environment. Surprisingly though, West London club Chelsea is the only ones who have managed to earn profits during the pandemic.
The Champions of Europe have been successful in earning a gross pre-tax profit of around £36 million. All the other clubs have suffered major losses. However, Pep Guardiola’s Manchester City has incurred the highest losses. Have a look at the full standings:
Manchester United: £-20.8m
Tottenham Hotspur: -£67.7m
Manchester City: £-125.1m
As we can see, Manchester City faced a net loss of £124 million. That’s almost a £60 million difference between them and the preceding club. Even with such dire conditions, City has managed to cope up with Aston Villa playmaker Jack Grealish. And that too for £100 million!
In terms of earnings, Manchester United remain on the top followed closely by Liverpool and Manchester City.
Manchester United: £509m
Manchester City: £478.4m
In addition, Manchester United are also splashing a lot of money. The Red Devils have acquired Jadon Sancho for £73 million along with Raphael Varane for £42 million. It’s very clear that even though Premier League clubs are grappling with finances, they are ready to splurge this summer transfer window.