Manchester United is just one of many Premier League football clubs that will lose out on millions in rebate due to the suspension of matches during the COVID-19 lockdown.
In total, Premier League clubs could see themselves paying back up to £340 million to various broadcasters for games that were not held.
Cliff batty who is the chief financial adviser for Manchester United went onto say:
“Given the delay caused by COVID-19 to the playing schedule, we anticipate that the revenues from the Premier League for completion of the 2019/20 season will be reduced, as discussions remain ongoing with broadcasters,”
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“For Manchester United, we have estimated this reduction to be around £20 million for a full season of 38 games.”
Manchester United executive vice-chairman Ed Woodward is hopeful that matches will resume next month as small groups have already started playing.
“It is now inevitable that our matches will initially be played behind closed doors when the season resumes,” Woodward said
“This is as disappointing for us as it is for our fans, but we hope it will allow the men’s first team to complete all of its competitions in the 2019/20 season by the end of August, and to start next season in time to target completion of next season still in May 2021.
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“There are still profound challenges ahead, and for football as a whole, and it is safe to say it will not be ‘business as usual’ for some time.”
The financial toll of the coronavirus on the world of football is still tallying up as United have already offered to refund fans on tickets purchased for the rest of the season seeing as the games will most likely all be played behind closed doors.