Burnley have underlined the dire financial consequences of the coronavirus crisis on the Premier League by announcing they stand to lose around £50m from the continued suspension of the season.
The club are one of the better-run outfits in England’s top flight and recorded a pre-tax profit for the third consecutive season for the year ending June 2019. Their wage bill of £87m represents 63% of turnover and is among the lowest in the Premier League.
In an unusual move aimed at being “transparent with supporters, staff and stakeholders”, however, Burnley have issued a statement detailing their predicted shortfall from the ongoing suspension of all football activities in England. The Premier League confirmed on Friday that the 2019-20 season “will only return when it is safe and appropriate to do so” and will only be resumed with the full support of the government. Burnley’s estimated losses of £50m, it believes, are half of what other Premier League clubs stand to lose this season. (Text and photo courtesy Guardian)