COVID-19 pandemic has affected the global economy. Football clubs are also facing a massive depth in their economy.
Earlier the clubs like FC Barcelona, Manchester United, Liverpool, and some other big clubs have revealed the impact of the COVID-19 pandemic. This time Manchester City reveals their loss. The club reported a net loss of £126 million for the 2019-20 season. Last year they secured a profit of £10.1 million.
Recently, Manchester City boss Pep Guardiola revealed that it is impossible for City to afford a world-class replacement for striker Sergio Aguero. It also ruled out the chance of a summer move for Borussia Dortmund’s Erling Haaland or Tottenham Hotspurs’ Harry Kane.
All the games are currently going on behind closed doors. It has a big impact on the financial conditions of the clubs.
Manchester City’s chief executive Ferran Soriano said, “Clearly, the 2019-20 accounts in isolation are not the best representation of the reality of the season with delayed player trading and numerous games being played after 30th June 2020, the revenues from which will be accounted in the 2020-21 period.”
“A better financial picture of the COVID years will be provided at the end of the 2020-21 season, when the two seasons are combined and normalised.” – he added.
As per the reports, fans will be back in the stadium from the start of the next seasons. If this happens, it will be helpful to the clubs for sure.