Brighton and Hove Albion chairman Tony Bloom has described the club’s current situation as “one of the most challenging in the club’s history”, as the Premier League side announced a reported loss of £67.2 million for the 2019/20 season.
The impact of the COVID-19 pandemic has taken its toll on football club's finances and Brighton are just an example of how many clubs have suffered due to the global pandemic.
During the 2018/19 campaign, Brighton recorded a loss of £21.2 million, in comparison to the recent figure released of £67.2 million, Brighton have seen a sharp increase to their losses. What’s more, they have seen a decrease in turnover to £132.9 million from £148 million.
The club released a statement addressing their losses and highlighted how the pandemic had affected their financial operations.
"The club budgeted for an increase in losses due to additional investments recruitment, with increases in player wages and transfer fees," the statement read.
"The budgeted losses were significantly increased by the unexpected drop in turnover, due to the coronavirus pandemic."
Brighton chairman, Tony Bloom, paid further tribute to the work of club staff in a message released to supporters on the club’s official website.
Bloom said: "These accounts relate to our third season in the Premier League, and one of the most challenging in our club’s history.
"During the second half of the season, the world was in the grip of a devastating global pandemic that changed so many aspects of life in so many ways – football included.
"Tragically, thousands upon thousands of people have lost their lives or loved ones to the pandemic, among them a number of Albion fans and members of the Albion community.
"Such tragedies put football into perspective and, notwithstanding everything we did to raise our standards on the pitch, our greatest achievements in the season just gone by came off the pitch."
Author: William Hebb