Samuel Karugu
After COVID-19 became an issue in Europe, many countries took drastic measures to ensure the safety of their people. One of the many restrictions that everyone had to cope with is the ban on people visiting football stadiums. This was one of the first safety measures that were implemented. Although some countries decided to lift the ban, most of them just allow the stadiums to have a limited number of fans.
Needless to say, the fact that there are no fans in the stadiums means that the biggest clubs will lose an awful lot of money. Although Arsenal doesn’t have the biggest stadium in the world, it turns out that the English club actually makes a lot more money than some other teams on a matchday.
The potential losses
According to some experts, Arsenal could lose as much as £120,000,000, which is an insane amount of money. However, unless the UK’s government decides to lift the ban, the club must prepare itself for losing this amount. Sadly, it seems like COVID-19 is starting to hit yet again, which is why it’s not likely we’ll see any changes when it comes down to the sports events.
What’s really fascinating is that in 2018-19, Arsenal reportedly made nearly £100,000,000 during match days, which is almost a fourth of what the team generates for the year. As you can imagine, this will have a significant impact on the team’s financial situation.
If the current situation doesn’t change, Arsenal is supposedly going to earn around £20,000,000 in 2020-2021, which might seem a lot. Still, it’s just a fraction of what the team makes. Most of the big Premier League teams are trying to convince people to go back to the stadiums. Sadly, the second wave of COVID-19 that is just starting to form will probably make many people think twice.
Apart from the lack of supporters, there could be one more potential problem, and it’s related to the money from TV broadcasting. Even though we don’t know whether this will be the case, it is possible to see a decline in the revenue that teams get from ads and their retail stores. Once again, Arsenal is one of the teams in the Premier League that could suffer the most because the club has loads of supporters.
How is the club doing in the pandemic?
One of the things that Arsenal had to do to reduce its expenses was to reduce the payment of the players. However, the club even decided to release around 50 people from the staff.
At the same time, Mikel Arteta made two transfers that cost £35,000,000 in total. On top of that, the club also signed a new contract with its superstar Pierre-Emerick Aubameyang, who will earn £350,000 per week.
Hopefully, there won’t be any financial problems for Arsenal in the upcoming months. The good news is that the team got around £20,000,000 after they sold two players.
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