Leicester City announce £67 million loss due to Covid-19

By Luke Williamson

Leicester City Football Club announced on Friday a pre-tax loss of £67.3million, largely due to the disruption caused by the Covid-19 pandemic.

The extended 2019/20 Premier League season meant that nearly a quarter of revenues, prize money and sponsorship revenue has not been recognised in this financial year, which ended on May 31, 2020.

The club chose not to utilise the government’s Job Retention Scheme and paid all of its own casual matchday and non-matchday staff in full despite football being suspended between March and May.

The Foxes owners, the Srivaddhanaprabha family, have supported its people through “an unprecedented challenge”, the Club’s website said.

%d bloggers like this: