Premier League chief executive Richard Masters expects losses to hit £2 billion by end of season
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ByEurosport
Updated 13/03/2021 at 09:56 GMT
This season’s Premier League champions will be presented with the trophy in front of 10,000 supporters, and chief executive Richard Masters is working on having fans in grounds for next season. "It’s full stadia, hopefully from the start of next season. We need to unite Premier League clubs around a plan for the future."
Richard Masters
Image credit: Getty Images
Premier League chief executive Richard Masters has revealed financial losses are set to hit £2 billion by the end of the season.
The coronavirus pandemic that has resulted in the vast majority of games played behind closed doors for the best part of a season and a half has hit clubs’ finances hard.
Masters says clubs are working on a timetable of having fans in attendance by the start of next season, but the situation on balance sheets is not good and expects there to be knock-on effects.
“There have been very significant financial losses, not just in the Premier League but throughout the football pyramid,” Masters said.
“Towards the end of this season, we’ll get towards £2 billion lost since the start of the pandemic in matchday revenue and broadcast revenue.
“We’ve kept the show on the road despite all of this. Clubs have continued to invest in competitive matchday squads and also the Premier League has continued to make good its contributions through the pyramid and wider football.
“But I think ramifications are that ultimately if there’s less money coming into football, then there’s less money going out in the short term.”
This season’s Premier League champions will be presented with the trophy in front of 10,000 supporters, and Masters is working on having fans in grounds for next season.
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“The first step is to see that trophy presented on 23 May, hopefully in front of 10,000 fans, somewhere in this country,” Masters said. “Beyond that, it’s full stadia, hopefully from the start of next season.
“We need to unite Premier League clubs around a plan for the future, a lot has happened over the last 12 months, and of course next year is the last year of our current financial programme, so we need to set a clear and secure financial plan for the Premier League, and therefore the rest of the pyramid, for the next three years.
“If we can get all of that done successfully by the end of this year it will be a good year. If you could throw in a successful Champions League win and perhaps even England winning the Euros, that would be even better.”
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