Football set to lose £8.6 billion
The pandemic has already led to over 150 soccer associations to seek financial help from the $1.5 billion emergency relief fund set up by soccer’s governing body.
Olli Rehn, chairman of FIFA’s coronavirus steering committee, laid bare for the first time, the true financial impact the virus has had on the game through fixture list chaos, empty stadiums and loss of TV rights revenue.
“It’s a huge number and it covers the football economy in its entirety, including all youth academies,” Rehn, a Finnish politician and governor of the Bank of Finland, told a press conference.
He added: “This will impact next year as well, there is a carry-over. “That is why this Covid-19 relief fund is not time-bound – they may request loans later on if they need to,”
As independent deputy chairman of the FIFA Governance Committee, Rehn explained that while Europe was hit hardest in terms of absolute cost, it was the associations outside Europe which “have suffered more – in particular in South America, many on account of their relative means and the spring to autumn season,”
Last month European Club Association chairman Andrea Agnelli predicted lost revenue of four billion euros over two years for its member clubs. Each national association can request a FIFA grant of $1million ($2m for confederations) plus $500,000 for women’s soccer.
Premier League clubs are losing £80m per month while games are being played behind closed doors meaning their losses could amount to £800m if supporters don’t return this season.
The EFL is looking to Premier League for a £200m bail-out loan for its members but that might come with strings attached as the Government and the PL are keen on the Championship introducing an £18m squad wage cap for the second tier of English football.
West Ham’s potential worst case losses from lack of ticket revenue and corporate hospitality stand around £39m for the whole season if no supporters return.