{"id":587131,"date":"2021-03-19T09:22:58","date_gmt":"2021-03-19T13:22:58","guid":{"rendered":"https:\/\/lastwordonsports.com\/football\/?p=587131"},"modified":"2021-03-19T09:23:25","modified_gmt":"2021-03-19T13:23:25","slug":"leicester-city-suffered-a-loss-of-67-million","status":"publish","type":"post","link":"https:\/\/lastwordonsports.com\/football\/2021\/03\/19\/leicester-city-suffered-a-loss-of-67-million\/","title":{"rendered":"Leicester City Suffered a Loss of \u00a367 Million for 2019\/20"},"content":{"rendered":"

Another Premier League club have announced a financial loss for the 2019\/20 season. Leicester City<\/a> suffered a loss \u00a367 million in this period, largely down to the coronavirus pandemic.<\/p>\n

Leicester City Suffered a Loss of \u00a367 Million in This Period Due to Lasting Impact of Covid-19<\/h2>\n

The Foxes Have Still Continued to Spend Big Since the Onset of the Pandemic<\/h3>\n

A concentrated effort to improve infrastructure at the club has seen Leicester build a new, state-of-the-art training complex at Seagrave whilst also seeking to expand the King Power Stadium.<\/p>\n

Per the Leicester Mercury<\/a>, a pre-tax loss of \u00a367 million, compared to \u00a320 million the year prior, can be attributed to the continued absence of fans as well as the club’s expansion plans.<\/p>\n

Despite these accounts including just three months where football was affected by coronavirus, the pandemic has resulted in a \u00a313 million loss for Leicester, of which \u00a39 million is the result of a Premier League broadcasting rebate and \u00a34 million comes from a loss in matchday revenue.<\/p>\n

However, as talkSPORT editor Jason Bourne revealed on Twitter<\/a>: “The club did not utilise the government\u2019s Job Retention Scheme, retained all permanent staff and, from its own funds, continued to pay the wages of all casual matchday and non-matchday personnel to the financial year-end”.<\/p>\n

Leicester City Suffer Financial Loss But Stable in the Pitch<\/h3>\n

A fifth-place finish in the Premier League last season and a current league position of third has prompted the Leicester hierarchy to match the players’ improved performances with increased spending.<\/p>\n

Accounts show that the total cost of their new training facility was over \u00a3100 million. A desire to increase capacity at the King Power Stadium resulted in the spending of a further \u00a31.8 million.<\/p>\n

Transfer dealings that saw the arrival of players including Youri Tielemans<\/a>, Dennis Praet<\/a> and Ayoze Perez<\/a> in 2019 totalled \u00a3105 million.<\/p>\n

Whilst a financial loss was to be expected off the pitch, the Foxes’ focus will be firmly set on their FA Cup quarter-final against Manchester United<\/a> on Sunday, knowing a win would take Brendan Rodgers’ men to Wembley.<\/p>\n

Main Photo<\/p>\n

Embed from Getty Images<\/a>