Europa League’s covid break contributes to Wolves’ £40m loss
By David Owen
March 20 – Chinese-owned Wolverhampton Wanderers have joined the general plunge into the red by Premier League clubs for the covid-impacted 2019-20 financial year.
Finance
High-flying Leicester suffer £67m loss for covid-hit year – but better times ahead
By David Owen
March 20 – Leicester City, the Thai-controlled club riding high in the Premier League once again under Brendan Rodgers, incurred a hefty pre-tax loss of £67.3 million for the covid-impacted 2019-20 financial year.
Man City are latest to go crypto with launch of Socios.com fan token
March 19 – Manchester City have become the first of the Premier League’s big six clubs to embrace the blockchain-based Socios.com fan token platform.
Brugge go public with IPO valuation at €229m
By Samindra Kunti
March 18 – Belgian champions Club Brugge have launched an initial public offering (IPO) in a deal that could value the club at €229 million, with chairman and majority shareholder Bart Verhaeghe selling at least 30% of the Belgian Pro League outfit with shares priced between €17.5 and €22.5.
Bahraini investor takes control of Wigan
March 16 – Wigan’s administrators have announced a deal for the sale of the club that in 2013 was in the Premier League and winning the FA Cup, but is now battling for survival and to avoid the drop to England’s fourth professional tier.
Glazer set to raise $100m from Man Utd share sale
March 15 – Manchester United co-chairman Avram Glazer (pictured) has put 5 million of his club shares up for sale in an offering that is expected to close tomorrow and gross him more than €100 million.
Bundesliga reports €200m revenue drop for 2019/20 season but warns of worse to come
March 10 – Germany’s Bundesliga has released its financial report for the covid-impacted 2019/20 season showing a combined total revenue of €4.5 billion for its two leagues, a 5.7% drop on the previous season.
OL players agree share deal as part of reduced wage negotiations
March 10 – Olympique Lyonnais players have agreed to be compensated in shares rather than cash as the club has moved to offset its Covid-19 lost income.
High-flying West Ham see finances hammered by covid, resulting in £65m loss
By David Owen
March 9 – Yet another Premier League club has revealed that it haemorrhaged red ink during the covid-battered 2019-20 financial year, with high-flying West Ham posting a pre-tax loss of £65.3 million for the twelve months to end-May.
Saudi’s Mosaad stays committed to Châteauroux despite relegation threat
March 8 – Saudi prince Abdullah bin Mosaad (pictured) is closing in on the acquisition of French Ligue 2 club Châteauroux, despite the club’s imminent relegation to the third division.
Arsenal losses hit £54m as broadcast income plunges
By David Owen
March 6 – Arsenal, still stuck in mid-table in spite of recent promising signs, have become the fifth Premier League club so far to report pre-tax losses of more than £50 million for the covid-disrupted 2019-20 season.
Brief Champions League return is enough for Man Utd to post £68m profit
By David Owen
March 4 – This season’s Champions League may have ended in disappointment for Manchester United, but the broadcasting revenue earned for the team’s group stage participation was enough to push the Old Trafford outfit back into the black, despite the continued absence of matchday crowds.
Spanish clubs hit with €5m tax bill after EU court rules against illegal state aid
March 5 – Barcelona, Real Madrid and two other Spanish clubs have been dealt a significant financial blow after being forced to pay back millions of euros in illegal state aid following a ruling by the EU’s highest court.
Club Brugge unveil plan to go public on the Euronext exchange
March 4 – Belgian champions Club Brugge having released plans for a public flotation on the Euronext market in Brussels.
LaLiga pegs covid lost income at €1bn as clubs cut €490m off wage bills
March 3 – Spain’s LaLiga has released an economic impact report detailing lost income across its top two divisions and the cuts that clubs have made, in particular with player wages and expenses, as they battle with the financial fall out from the pandemic.