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Coronavirus: Premier League Clubs Set to Lose £762m

Premier League clubs have been informed that they will have to pay back £762million in broadcast revenue if the 2019-20 season is not completed due to coronavirus, reports The Athletic.

The rescheduling of the league is understood to be costing broadcasters huge amounts of money per day as they cannot attract advertisers. This was reportedly communicated to all 20 clubs at the emergency meeting on Thursday, where it was decided that the season would continue on April 30 at the earliest but would be postponed indefinitely in order to complete it.
The most recent influx of cash was only received by the clubs with the broadcast money handed out in two instalments, in August and February. The figure would be paid back to broadcasters due to a breach of contract in terms agreed for domestic and international rights. Many clubs are ready to play games within closed doors to ensure they don’t lose out on the broadcast money, given their helpless financial positions.
They want games to continue and players to be tested frequently, with training grounds sealed off and players “wrapped in cotton wool” to prevent them from contracting COVID-19. Some players in Germany donated their wages to non-playing staff in order to avoid them being laid-off; many Premier League clubs are said to be in favour of this strategy.

Other clubs in more healthy financial conditions have kicked against playing within closed doors, especially if the rest of the country is isolating to prevent the spread of the disease.

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