08122020

Burnley fear money will run out by August as they stand to lose £50m


Burnley fear money will run out by August

On Saturday, Burnley FC posted a shocking message on their club’s website.

Burnley indicated that money will run out at Turf Moor by August if the Premier League season doesn’t restart.

That’s raised fears that Burnley could be the first Premier League club to go bust during the Covid-19 crisis.

 

Burnley stand to lose £50m if the Premier League doesn’t restart

In a chilling statement, Burnley chairman Mike Garlick revealed the following on the club’s website:

It’s a completely unprecedented situation that we and other Premier League Clubs face and which we could not have foreseen in anyway only just a few weeks ago. 

It’s now not just about Burnley or any other individual club anymore, it’s about the whole football ecosystem from the Premier League downwards and all the other businesses and communities that feed from that ecosystem.

As a club, as fans, as staff members and as a town we are all in this together and I’m sure we can get through this by sticking together and helping each other in every way possible in these tough times.

We all need to do our bit, however small, together as One Club.

Mike Garlick went further in an interview with Sky Sports.

As reported in the Independent, Mike Garlick revealed just how close the club are to bankruptcy:

The fact of the matter is if we don’t finish this season and there isn’t a clear start date for next season, we as a club will run out of money by August, that’s a fact. I can’t speak for other clubs.

 

Why are Burnley in such financial trouble?

How can Burnley be in such financial dire straits?

When the Premier League was halted, Burnley were 10th in the table and just four points behind the top 6.

However, the club have revealed that they are losing money by the day:

Burnley FC are set to lose around £5 million in lost revenue from the remaining home games…

In addition, the Clarets face missing out cash payments from the Premier League of up to £45 million in broadcasting revenue and other items if the season is not finished. It is believed that other clubs could be looking at up to a £100m shortfall. 

 

Also see: Best Netflix, Amazon & YouTube football documentaries & movies to watch during coronavirus isolation.

Best football podcasts to listen to during coronavirus quarantine.


This article was edited by Ben Green.

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