Sports
‘Premier League clubs lost £600m in season before virus’
Premier League clubs made a combined loss of £600 million in the 2018/19 season, even before suffering the financial pain of the coronavirus pandemic, a report revealed on yesterday.
Analysis from football finance experts Vysyble shows the 20 clubs in the English top-flight combined to post the huge loss despite record revenues of £5.15 billion ($6.6 billion)
The financial impact of COVID-19 is set to have a huge impact on the Premier League, even if plans to complete the current season behind closed doors go smoothly.
Premier League sides face paying a reported £330 million to broadcasters in rebates as matches could not be completed on schedule.
An estimated £126 million could also be lost in match-day income from gate receipts and hospitality.
“The COVID-19 virus is not the cause of football’s financial distress. It is merely the accelerant on what our data has very clearly and very correctly identified as a much longer-term problem,” said Vysyble director Roger Bell.
“The 2018/19 numbers are a disturbing and profoundly worrying financial outcome from England’s senior football divisions and is symptomatic of the deeper issues with the overall financial model.”
Wage costs for Premier League clubs have risen to £3.12 billion.
Everton posted alarming losses of £111 million, while Chelsea’s failure to qualify for the Champions League saw the Blues lose £96 million.
Yet the most worrying sign for the future financial health of the league may come from Tottenham.
Spurs posted a league-high profit of £68.6 million for the 2018/19 season on the back of a run to the Champions League final.
But the London club announced last week they had borrowed £175 million from the Bank of England.
They fear they could lose £200 million over the next year due to the loss of matchday income, cancellation of non-football events such as NFL matches and concerts and rebates owed to broadcasters.
“Our data has consistently demonstrated that football has been the master of its own misfortune with an over-reliance on TV revenues, staff cost-to-revenue ratios regularly in excess of safe operating limits (UEFA guidance recommends 70 per cent) and a failure to recognise key financial dynamics and trends,” added Bell.
The economic outlook for the Championship is also bleak.
Four Championship clubs have yet to release their full 2019 accounts, but the second tier of English football has so far combined for economic losses of £307 million.
The final economic loss total for all 24 EFL Championship clubs is expected to be at least £350 million. – worldfootball.net
Attention will be at the Golden City Park in Berekum tomorrow as Hearts of Oak lock horns with Berekum Chelsea FC in a Ghana Premier League Matchday 6 game that promises an electrifying atmosphere.
Lying sixth on the league table with two wins and three draws, the Phobians visit a ground that has been favourable to them in recent times. In their last three visits to the Golden City Park, Hearts have amassed seven out of nine points, putting them in strong contention to win.
Head Coach Mas-Ud Didi Dramani says, “The team is making progress in its tactical identity despite the lack of goals, and this is something we are working on ahead of this game.”
Hearts will come face-to-face with former coach Samuel Boadu, whose side lies a distant 13th on the league table with a win and a draw from four games. Coach Boadu is yet to celebrate a victory over the Phobians since joining the Berekum lads and would hope this fixture marks a turnaround.
Ninth-placed Vision FC would trek to the Nana Fosu Gyeabour Park in Bechem to play Bechem United, while new boys Hohoe United host Aduana FC at the Hohoe Sports Stadium.
Returnees Swedru All Blacks will welcome Basake Holy Stars to the Swedru Sports Stadium, with defending league champions Bibiani Gold Stars staying put at their backyard, the Dun’s Park, to welcome second-placed Heart of Lions FC on Monday.
Today at the TnA Stadium in Tarkwa, Medeama SC will clash with Samartex FC in a Western derby. Other games scheduled for today would see Eleven Wonders FC host Karela United at the Swedru Sports Stadium, while Dreams FC face Nations FC at the Tuba Astro Turf.
By Raymond Ackumey
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Ghana coach Otto Addo may not command the kind of fear and respect like Pep Guardiola, Jose Mourinho, Carlo Ancelotti, Luis Enrique and others in the modern game, but in his small corner, he is gradually climbing the ladder to greatness in Ghana, Africa and the world at large.
The aforementioned coaches attained greatness with club sides and, therefore, open an argument over whether one is not comparing apples to oranges. But no matter how one looks at it, they are all coaches harbouring similar ambitions to attain greatness in their fields.
Otto Addo is one of the young and upcoming coaches holding a lot of promise and was getting experience with his association with Borussia Dortmund in Germany until his path was directed by a Ghana call.
Although he was born in Germany, Otto Addo’s association with Ghana football dates back to 1999, spanning a period of about seven years; commencing with a 5–0 rout of Eritrea on February 28. He gained international prominence when he joined the squad for the 2000 African Cup of Nations. He featured as a midfielder in the team for the 2006 FIFA World Cup.
But like it’s often said, a prophet is not recognised in his own home and his efforts partially went unnoticed. He’ll go into the annals as one of the Black Stars coaches to have been fairly or otherwise criticised not just by ‘football people’ but fans who doubted him.
His sack has been discussed at various platforms by people whose knowledge and tactical acumen about the game remains questionable. Ghana’s Minister for Sports and Recreation, Mr Kofi Adams, at one point openly stated his doubts over Otto Addo’s ability to actually deliver.
No coach would feel secured in such turbulent times, but coach Otto Addo kept his calm and composure. On the corridors of his employers, however, the Ghana Football Association (GFA) president, Kurt Okraku, openly rallied support for him, though a few ‘doubting Thomases’ still questioned his credentials.
That painted a picture of a people that forget easily and are quick to crucify. In a brief moment of adversity, Ghanaians forgot how Otto Addo was brought in to pluck qualification for the Qatar 2022 FIFA World Cup from the jaws of the Super Eagles of Nigeria with a solitary goal over two legs.
The upshot of that feat was not one any Nigerian would want to remember. The scenes after the match were awfully chaotic, as fans vented their anger on facilities at the stadium. Back in Ghana, it was partying all night and day.
Otto Addo was labeled the football magician. He achieved something no Ghanaian coach had ever accomplished; a feat which Ghana with her all-time best teams could not attain. That was the climax to which Otto Addo took Ghana football, generating calls to start believing in the Ghanaian coach.
Following that to the World Cup proper was another story altogether. It was, or may have been, our poorest show at any of the four World Cup appearances. And just as it was stipulated in his contract, he bowed out after the Qatar World Cup to mind his Borussia Dortmund business with peace.
But as fate would have it, nature found a way to renew his romance with Ghana football after an unconvincing start to the America, Canada and Mexico dream World Cup under special advisor turned coach, Chris Hughton.
Ghana started the qualifiers on a winning note but not a convincing performance. It was saved by an Inaki Williams goal scored on the sixth minute of additional time against Madagascar at the Baba Yara Sports Stadium. The Black Stars then slumped to a 1-0 defeat at the Stade de Moroni to Comoros to heighten calls for a new technical direction.
Then stepped in Otto Addo when Ghana occupied the fourth position in Group I with three points but with the countries in the group evenly matched.
By Andrew Nortey
