Southampton Announces Large Financial Losses Due to Covid-19 Pandemic

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Southampton has reported a loss of £ 76.1 million in the latest set of Premier League club financial results that have been affected by the Covid-19 pandemic.

Parent company St Mary’s Football Group Ltd announced a decrease in total turnover of £ 126.6 million from the £ 149.6 million figure in 2019, with a pre-tax net loss increasing by £ 41 million.

With the suspension of the season from March 2020 until the restart of the project, match day revenue fell from £ 17 million to £ 14.5 million as matches were played behind closed doors.

While the Saints finished 11th when the Premier League season finally ended, broadcast revenue for the period decreased from £ 112.8 million to £ 93.5 million as a result of the campaign that ended after June 30, 2020.

Project Restart also incurred an additional £ 1.5 million of ‘net additional costs of selling and administrative expenses’ to enable the men’s first team team to train and play the resumed season in a safe Covid-19 environment.

Southampton reported that the total revenue lost in 2019/20 as a result of the coronavirus pandemic during the financial year was £ 10.3 million, with further revenue of £ 20.9 million deferred in the next set of results to be for the year ending June 30, 2021.

The club said revenue would have shown a five and a half per cent increase to £ 157.8 million had it not been lost or deferred due to the Covid-19 crisis, while the group’s overall net loss for the financial year would have been. it stood at 47 million pounds sterling.

The transfer business was also significantly affected, as the summer window did not open until July 2020, which was after the final financial year ended.

The sales of Charlie Austin and Sam Gallagher during the previous summer helped make a profit of £ 13.9 million, but these were offset by the purchases of Che Adams, Moussa Djenepo and the loan of Kevin Danso.

Challenging environment for clubs

Southampton Managing Director Toby Steele said: “As with many companies and industries, the group is in the midst of a challenging financial environment due to the impact of the Covid-19 pandemic.

“This is reflected in the financial results of 2019/20 and forced the group to restructure its credit line during June 2020.

“Despite these challenges, our staff from across the group have shown great resilience, facilitating a smooth return to training and matches for men’s and women’s teams of all age groups, as well as the return of fans. , albeit briefly, during the 2020/21 season.

“We are also very proud of the work of the Saints Foundation, particularly the collaboration with the group’s staff on the ‘Saints as One’ initiative during the early stages of the pandemic.

“The continued support of our fans, many of whom purchased a season ticket for the 2020/21 season at a time when the return of football was unknown, is greatly appreciated and we hope that the fans will return to where they belong, supporting to all of our teams in person, in greater numbers as soon as possible. “

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