Brighton and Hove Albion has released its 2020-21 finances on Monday, announcing it had suffered $70 million in losses.
The number is staggering, though still lower than their 2019-20 reported losses of about $88 million.
Deputy chairman and chief executive, Paul Barber attributed half of total losses “directly” to the pandemic, as matchday, event, and commercial turnover was all but wiped out for the entire season.
There were extra costs associated with providing COVID safeguards.
The news is unsurprising given the gargantuan losses suffered by the European football market during the pandemic.
In 2019-20, for example, the market dropped by a total of $29.7 billion, according to Deloitte. There was, however, a $7.1 billion parachute fund organized by UEFA that mitigated some of the losses — though clearly not all.
