According to a report in the Athletic, Premier League clubs must pay back £762m in lost TV revenue if this season cannot be completed.
The clubs discussed this looming financial hit during their emergency meeting yesterday where it was decided that the league would not resume until the end of April at the earliest.
The broadcast payments are issued biannually in August and February, so clubs just recently received their second payment.
The Athletic report that there will be a lot of wrangling between the clubs and the players in an attempt to resume the league.
Some clubs are desperate to complete the season through even the strictest of measures while others are reluctant to do that without supporters in the stands.
There could also be a situation where some players refuse to put themselves or others at risk by continuing the season.
So we expect a lot of negotiation over the next few weeks to see if this season can be completed.
The Shields Gazette has also published a report of the impact on Mike Ashley’s retail empire that the coronavirus could have. This is the statement Frasers Group Plc has issued to its shareholders:
“Frasers Group has been monitoring the potential impact of COVID-19 across its UK and international businesses.
“Whilst it is too early to estimate what the full impact from COVID-19 will be on the Company’s performance for the current financial year ending 26 April 2020, and future periods, the Board expects that COVID-19 will cause significant disruption to its business, including reducing customer footfall and therefore expects that Frasers Group will not achieve the range of guidance of 5 to 15% EBITDA growth (including House of Fraser but pre-IFRS 16 adjustments) previously given for the financial year ending 26 April 2020.
“Accordingly, and given the ongoing uncertainty, the Company is no longer giving formal guidance in relation to the financial year 2020.”