Latest SB Meeting - Financial Impact of Covid-19 | Vital Football

Latest SB Meeting - Financial Impact of Covid-19

Jules

Jules

Website Owner
Staff member
- Cost of Covid-19 to LCFC is in the region of £1,800,000.

- The current situation is dire for all football clubs at this level.

- Club has reduced the playing budget significantly, however the budget was set with the return of fans within the 2020/21 season.

- Already the Club has lost £400,000 to £500,000 in commercial revenue.

- Club will be reliant on a rescue package. If not forthcoming actions will need to be taken to plug the hole.

- This is a bleak period for everyone involved in football. Conversations are ongoing with the EFL and stakeholders.

Chair's Notes:
https://forums.vitalfootball.co.uk/threads/latest-sb-meeting-chairs-notes.109517/#post-2519711

Season Ticket Update:
https://forums.vitalfootball.co.uk/...ing-season-ticket-update.109518/#post-2519718

Live Streaming:
https://forums.vitalfootball.co.uk/threads/latest-sb-meeting-live-streaming.109520/#post-2519724

Any Other Business:
https://forums.vitalfootball.co.uk/threads/latest-sb-meeting-any-other-business.109521/#post-2519726
 
Well that is worse than I thought- this does include the £K 400-£K 500 commercial income hit-I think this has been the first indication of the impact in this area. I hope the rescue negotiations can get back on track. If there is no rescue,then the remedial action will likely be brutal.
 
57harry said:
Well that is worse than I thought- this does include the £K 400-£K 500 commercial income hit-I think this has been the first indication of the impact in this area. I hope the rescue negotiations can get back on track. If there is no rescue,then the remedial action will likely be brutal.
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I rarely agree with you, but I'm agreeing.

However, the brutality on other clubs could be a lot worse.
 
The financial impact of this virus has yet to be seen in its full impact unfortunately. I wish all clubs, business and individuals all the best in getting through this relatively unscatched however i think there is more to come.
 
It just makes some of the other clubs pre season spending look suicidal to me.
It was all about sales where possible, cutting wages and having a good enough squad on as low as possible wages for me.

Surviving COVID is the first priority, followed by 20th or above in the division. Any cup runs with cup winnings, and TV money to put in the pot. Followed by getting as high up the table and improving the players to increase their value as much as possible.

I think Clive, MA and the team look to have done a really good job so far.

If that is showing that kind of shortfall, I seriously sadly worry for a number of clubs.
 
Looking at the season ticket stats ,just over 2000 have responded,which is less than half as at 30.9.20. Out of these 150 have asked for a full cash refund.
 
At least we have quality saleable assets if the current development trend continues. £1M+ for a player may be a price worth paying (for someone) if it goes towards the survival and future of the club.
 
Ex-Ref said:
As an optimist, should we manage to win EFL1. Is there prize money involved?
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Don't know but must be something.
And there must also be a big leap up in funding in Championship.
We can't though base any financial hanging on on promotion. And I'm sure board would never do that.
Massive challenge to survive this season. But we must be in a much better place than many others (or rather in a much less worse place).
 
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