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COVID-19 To Cost Top Clubs Over £1.7bn
The coronavirus pandemic will cost Europe’s 20 richest football clubs over £1.7billion by the end of this season.
The Deloitte Football Money League survey found that the clubs had already lost around £976million up to the end of the extended 2019-20 season.
Clubs have suffered considerable losses on both broadcast and matchday revenue.
Barcelona generated more money than any other club in Europe, but still had the second-largest revenue fall in absolute terms.
The Catalan club saw a drop from £741.1million to £627.1million but remain narrowly ahead of La Liga rivals Real Madrid, whose revenue fell from £667.5million to £627million.
Bayern Munich (£556.1million), Manchester United (£509million) and Liverpool (£489.9million) make up the top five with Liverpool moving up from seventh last year, replacing Paris St-Germain.
Manchester City, Chelsea, Tottenham Hotspur and Juventus make up the remainder of the top 10.
Eighteen of the 20 clubs retain their places from last year’s survey – with Zenit St Petersburg (15th – £207.4million) and Eintracht Frankfurt (20th – £152.6) replacing AS Roma and West Ham United.
Coronavirus has caused havoc in the world of sport for much of 2020 and into 2021.
It led to the postponement in March of top divisions in England, Spain, Germany, Russia and France. The French Ligue 1 season was cancelled, while the Bundesliga resumed in mid-May with other leagues following in June – all behind closed doors.
Clubs suffered an £832million drop in broadcast revenue, primarily due to the delayed ending of the 2019-20 season meaning the deferral of broadcast revenue into the financial year ending in 2021, but also because of broadcaster rebates related to the disrupted 2019-20 season.
For example, Manchester United said in October that their broadcasting revenue had been reduced 41.9percent from £240.2million to £141.2million.
There was also a £228million overall fall for the 20 clubs in matchday revenue, although there was a £93million increase in commercial revenue.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
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