Premier League Faces Over £1 Billion Loss If Season Is Not Completed, Says CEO Masters
April 7, 2020
Premier League Chief Executive Richard Masters has defended Premier League clubs for using the government’s furlough scheme, after a number of teams have come under criticism.
Responding in a letter to MP Julian Knight, a high-profile opponent, Masters admitted that the coronavirus pandemic could cause over a billion pound loss if the season cannot be concluded, and warned of even greater losses if it continues further.
“We face a £1billion loss, at least, if we fail to complete season 2019-20, and further losses going forward if the seriousness of the pandemic deepens and extends into the future,” Masters wrote.
“The furlough scheme announced by Government is meant for the whole economy, including many enterprises which might be regarded as providing entertainment or otherwise dependent on elite talent.
“Not only is our industry facing losses now, but to be realistic, we must also base our plans on full recovery being some distance away.
“Ultimately, the very heavy losses that we face will have to be dealt with or else clubs or other enterprises who depend on football for income will go out of business.”
