The new season of Premier League is all set to start from 12th September. The fans are all excited and geared up, but the clubs have a lot to worry.
It is speculated that 20 clubs could lose out more than half a billion as match-day revenues. Although there is an excitement for the fans as the action on ground resumes in less than a week, but the club are biting their nails.
Due to the ongoing pandemic, a report by financial times suggests that clubs will face shortage of US$717 million as match day revenues because of only partial opening of the stadiums. SportsMint has learnt from its reliable sources that, lubs lost out $1.13 billion in revenues in the recently concluded Premier League season.
Majorly, this is due to the match-day incomes, as the matches were played behind closed doors. In addition to this, clubs also lost on $440 million rebate paid to broadcasters. Moreover, the contract worth $695Mn with Chinese broadcaster PPTV was terminated last week due to non-payment by the broadcaster.
With the financial situation already so tight in the market and most of the clubs struggling to find new sponsors as the old contracts have been terminated or exited amidst the Covid-19, clubs need to find out an alternative to boost the monetary benefits and at the same time engage fans.
Initially the plan is to start off the league in empty stadiums and later on fill it to 75%, depending on the situation.