(MENAFN) The Saudi Kingdome’s USD416 million seizure of Newcastle United FC is a great financial investment for the country, however one that must be assessed in more than just yearly income and loss accounts of the club in the future.
Premier League football is not seen as a mainly lucrative trade. Way before the pandemic hit, the league’s clubs issued a shared pre-tax defeat of USD224,58 million during the 2018/19 season at the time when incomes exceeded USD6,805 billion unprecedentedly, as mentioned by specialized services company Deloitte.
Naturally, the Covid-19 pandemic affected profits, which declined to USD6,124 billion in 2020, with clubs then dealing with damages of just under USD1,36 billion.
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