Updates from Premier League as Liverpool officially announced their financial report, which revealed the endured £46 Million loss until May’ 2020.
The Global pandemic has caused severe problems around the world, a genuine setback for development in the last 1 year. The medical industry is certainly fighting day and night, to make the world better for us. But the economical status of several firms and companies became too hard to handle.
The Sports industry and the entertainment industry took a major hit in the pandemic, as they endured heavy loss in the lockdown period.
Liverpool reveals exact figure of 3 months
Liverpool Board of Directors reveals the financial data until May 2020. The global pandemic started in November 2019, but the football industry went for a lockdown in March 2020.
The football remained suspended for around three months, from March to June. And in this span, Liverpool recorded a loss of £72 Million in all sectors. A loss of £59 Million in media revenues and £13 Million in matchday revenue.
In that span, the losses brought down their earnings from the Media industry to £202 Million and to £71 Million from Matchday revenues.
Liverpool to suffer more in Post May 2020 regime
Liverpool suffers even more after the football resumed in June 2020. Due to the pandemic, the football resumed closed-door, with no football fans in the stands.
The loss of supporters from the field resulted in a loss of ticketing sales, indoor businesses collapsed which depend heavily on fans and supporters.
Although the British Government allowed football fans in few games, that didn’t stay for long due to rising scares of coronavirus pandemic. The club will reveal the exact financial loss figure until May 2021, next year.
Liverpool didn’t suffer too much loss in revenue
Liverpool won the Premier League 2020 title last year, which reduced the loss in their financial year 2019-20. The cost will come into effect in the tenure between May 2020 and May 2021.
They also generated revenue from a record number of official Nike shirt sales from the region of Thailand, Singapore, and Vietnam. FSG also sold their 10% stake in the club to an investment company named Redbird Capital Partners, for £543 Million.
Liverpool will go through a tough time in the upcoming transfer window. They might decide to sell few players to recover some money to spend on new players and focus on football again.