• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Sports

Football: Southampton announces £76.1m loss for 2019/20 financial results

Ajalogun HakeembyAjalogun Hakeem
2 years ago
in Sports
Football: Southampton announces £76.1m loss for 2019/20 financial results
Share on FacebookShare on TwitterShare on Linkedin

English Premier League club, Southampton Football Club, has reported a net loss of £76.1million for the fiscal year of 2019/20 ending in June 2020, due to the significant impact of the devastating Covid-19 pandemic.

READ: This is why Dangote may drop plans to buy Arsenal FC

Key highlights of its FY 2019/20

  • Southampton FC incorporated by St Mary’s Football Group Ltd, posted a decrease in the overall revenue down to £126.6m which represents a nosedive of £23m compared to £149.6 reported in the fiscal year of 2018/19, with the net loss before tax up from £41m.
  • As a consequence of the English Premier League ending before 30 June 2020, broadcasting revenue fell to £93.5m compared to £112.8m in 2019 – a drop of £19.3m, despite the Saints finishing 11th in the 2019/20 Premier League season (five places higher than the previous season).
  • With the suspension of the league in March 2020, until Project Restart, which led to matches played behind closed doors, matchday revenue fell to £14.5m with a £2.5m drop compared to £17.0m in 2019.
  • Project restart also coated them an additional £1.5m of net additional costs of sales and administrative expenses in order to enable the men’s first-team squad to train and conclude the 2019/20 season in a COVID-19 secure environment.
  • The Saints reported that the total 2019/20 revenue foregone as a highlight of the significant impact of the devastating Covid-19 pandemic over the financial year was £10.3m, with a further £20.9m revenue deferred into the year ended 30 June 2021.
  • However, the club said revenue would have shown up a £8.2m (5.5%) increase up to £157.8m for the 2019/20 fiscal year, had it not been lost or deferred due to the ongoing Covid-19 crisis.
  • The transfer business was significantly impacted as the Summer 2020 transfer window did not open until July 2020, after the financial year ended.  The sales of Charlie Austin and Gallagher in the Summer 2019 window helped see a profit of £13.9m compared to £20.9m made in 2019.

READ: Manchester United: A football club or a business

What the Southampton FC MD is saying

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 for 2019/20 and necessitated the group to restructure its debt facility during June 2020. Despite these challenges, our group-wide staff have shown great resilience, facilitating a smooth return to training and matches for men’s and women’s teams across all age groups, as well as the return of fans, albeit briefly, during season 2020/21.
  • “We also have great pride in the work of the Saints Foundation, in particular the collaboration with group staff in the ‘Saints as One’ initiative during the early stages of the pandemic. The ongoing support of our fans, many of whom purchased a 2020/21 season ticket at a time when the return of football was unknown, is greatly appreciated and it is our hope to get fans back where they belong, supporting all our teams in person, in greater numbers as soon as possible.”

READ: Manchester City owner, Sheikh Mansour spends £760k on old FA Cup Trophy

Tags: Business NewsSouthampton FCSports News

Comments 1

  1. Chimauche says:
    January 14, 2021 at 4:28 pm

    Wow! Due to covid-19 pandemic, it gonna be tough. I hope they bounce back financially

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

hfm
UBA
Mega Millions
Mega Millions
fidelity banner
HFM







NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Africa’s biggest economies responsible for continent’s slow economic growth – Report
  • Where Nigerians in Nigeria and diaspora can invest right now
  • Market experts say removal of CBN Governor is a step in the right direction

Follow us on social media:

Recent News

Africa’s Biggest Economies Responsible for Continent’s Slow Economic Growth_ Report

Africa’s biggest economies responsible for continent’s slow economic growth – Report

June 10, 2023
Where Nigerians in Nigeria and Diaspora can invest in?

Where Nigerians in Nigeria and diaspora can invest right now

June 10, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In