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Manchester United suffers £28m financial loss for Coronavirus so far
The British Football Club Manchester United confirmed that the Covid-19 pandemic has cost them an initial £28m, and they expect the numbers to grow.
Man Utd’s Chief financial officer Cliff Baty said they are set to hand back £20m in TV revenue to broadcasters even if the Premier League season is completed, BBC reported.
The club also lost another additional £8m in the final three weeks of March, as three of their matches were postponed.
So far, 11 matches of Manchester United have been postponed because of Coronavirus.
BBC added, “With games called off – including matches in the Europa League and FA Cup – Baty said that sponsorship revenues had “contracted”, and that retail sales had been “impacted” with the club store at Old Trafford still closed.”
He added that matchday revenues were “significantly impacted”, with an acceptance games will be played behind closed doors for the foreseeable future.
This comes as the Premier League’s matches are supposed to resume starting from June 1 after nearly two months break.
