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‘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.

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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.

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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.

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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.

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The final economic loss total for all 24 EFL Championship clubs is expected to be at least £350 million. – worldfootball.net

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 GoldStars GPL feat no fluke

Bibiani GoldStars celebrate their title triumph last Sunday
Bibiani GoldStars celebrate their title triumph last Sunday

 No prophet in Ghana would have been taken serious with prophesies of Bibiani GoldStars becoming the new champions of the 2024/25 Ghana Premier League (GPL).

That is not to take anything away from Coach Frimpong Manso, an Asante Kotoko legend, and his boys for the yeoman’s job they did in the just ended season.

They deserve every bit of the plaudits coming from well-wishers.

They came, they saw and conquered on their fourth year (2021/2022 season) in the elite stage of Ghana football.

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Of course, this can only be a reality in the end but not a sound prediction at the start of the season.

But, so has it been. Stories like that of GoldStars sharply brings to mind a similar fairytale orchestrated in the advanced English Premier League (GPL) with the 2015/16 edition.

In the face of the Manchester City, Manchester United, Chelsea, Arsenal and Liverpool dominance, Leicester emerged with a bang, conquering every hurdle in sight with unsung heroes like Jamie Vardy, Wilfred Ndidi, Shinji Okazaki, Leonardo Ulloa, Danny Drinkwater, Robert Huth, Riyad Mahrez and others.

There was no indication of that sort at the start of the season.

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As usual, the focus was on the aforementioned heavyweights but Leicester took the competition by storm to record a historic win.

Back home, the GoldStars story is not different. Despite the recent struggles by perennial favourites, Accra Hearts of Oak and Asante Kotoko, the two have always found their ways in fans prediction regarding the side to emerge winners.

Interestingly, both sides just managed to end up in the top four after Nations FC’s decision to abandon a game against Basake Holy Stars who cost them dearly, in the end, forfeiting the said game and going ahead to suffer a further three points deduction penalty.

Nations FC were actually the top favourites for the title until that ill-fated match against Basake Holy Stars.

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Campaigning for the second year in the competition, very few followers of the game gave the Timber giants any chance.

But in the same ‘Rambo’ style, teams like Medeama SC and Aduana Stars descended on the GPL, GoldStars emerged with all guns blazing, strategically employing a tactic of making the Dun’s Park in Bibiani, a waterloo for visiting teams.

On a few occasions, they sprung surprises on the journey, recording a few upsets against gullible teams including Hearts of Oak in Accra.

They had a promising coach like Frimpong Manso who is yet to establish himself among the elites local coaches maybe because he is yet to work with any of the established club sides in the country.

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But winning the local competition with a less endowed club makes you a legend, and truly, he has become one.

To management and other members of the technical team, one could only congratulate them for a job well executed.

The players have a huge role to play in proving that the feat was no fluke and that GoldStars has come to stay; and would continue to make an impact in the local game.

Much is not known about these players except Vincent Atinga who plied his trade with Hearts of Oak and Medeama SC. Others like Samuel Attah Kumi, Frank Amankwah, Kelvin Oppong, Charles Gyamfi Kamara, Abdul Farouk Amoaful, Gideon Anaba, Samuel Acheampong, Foster Agyei and Yakubu Haqq remain emerging talents aiming to carve a niche for themselves.

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Definitely with the new challenge, some areas of the team would be strengthened as they face the finest sides on the continent.

Another season with a new champion should also serve as a wake-up call for the likes of Hearts or Oak and Asante Kotoko to quickly return to their glory days lest they lose their enviable place among the football elite clubs. Well-done GoldStars.

 By Andrew Nortey

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 Golden Kick, a tricky obstacle for Kotoko in MTN FA Cup final tomorrow

Abdul Karim Zito-Kotoko
Abdul Karim Zito-Kotoko

 The University of Ghana Stadium will come alive tomorrow when Ghanaian giants, Kumasi Asante Kotoko, take on lower tier side, Golden Kicks FC, in a thrilling climax to the 2024/25 MTN FA Cup final tomorrow at exactly 5pm.

The much anticipated game, which is more than just a battle for silverware but a meeting of tradition and ambition for both teams, is expected to draw thousands of football fanatics across the country to the Legon stadium for what promises to be a dramatic and tricky finale to this season’s domestic cup competition.

Fiifi Parker Hanson – Golden Kick SC

After an unsuccessful season in the Ghana Premier League which saw the Reds miss out on the title to Bibiani GoldStars, the Porcupine Warriors will be desperate to finish the season on a high by clinching the title to secure a place in the next CAF interclub competition.

The Reds have a rich history in the FA Cup competition having won it nine times and will be eyeing their 10th title to stamp their authority as the overall best.

Before reaching this stage, Asante Kotoko eliminated formidable opponents like True Democracy, Sekondi Eleven Wise and Berekum Chelsea in the semi-final.

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The availability of players like Justice Blay, Kwame Opoku, Frederick Asare, Peter Amidu Acquah and striker Albert Amoah, among other notable players will be a big boost to Coach Karim Zito’s side.

Abdul Karim Zito-Kotoko

Meanwhile, the task will not be an easy one for Kotoko looking at the way their opponents reached the final with wins over Accra Hearts of Oak and Bechem United before climaxing it with Attram d’ Visser.

Coached by young and tactical Fiifi Parker Hanson, Golden Kicks have a combined youthful team with tactical discipline to punch well above their weight and relish the opportunity to shock the giants once more on a bigger stage.

This final is more than just a contest between Premier League royalty and a hungry underdog but rather a tale of two contrasting football identities. Kotoko brings the weight of tradition, experience, legacy and pressure while Golden Kicks arrive with nothing to lose and everything to prove which makes the game a promised one, full of thrills and fireworks.

 By Enoch Ntiamoah

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