COVID-19: LaLiga president laments financial loss of £1 billion by Spanish clubs

LaLiga president, Javier Tebas, has said that a failure to complete the season could end up costing their clubs €1billion in lost TV money, gate receipts, and sponsorship.

DAILY POST recalls that all the major leagues in Europe, including the LaLiga, Premier League, Bundesliga, Serie A, and Ligue 1 are on hold due to the Coronavirus (COVID-19) outbreak in the continent.

“If we do not resume, the economic impact on Spanish clubs, including money from European competitions, would be worth around €1bn,” Tebas told the media, as reported by ESPN.

“That figure is not just based on league revenue, but also includes money teams won’t get from Champions League revenue.

“The losses will be €300 million if games are played behind closed doors and then €150m if we resume with fans because of the damage that has already been caused.”

“The current scenarios being discussed are to restart the Spanish league on May 28, June 6, or even up until June 28,” Tebas added.

“But we will have to see what happens in April. And it is not just about Spain, but what happens elsewhere.”