Norwich City are expecting a loss of income close to £18m.
A recent report from financial services organisation Deloitte claims that Premier League clubs could lose a combined £500m between them in the wake of Covid-19.
City’s top brass revealed back in March that the club was preparing for a loss of income between £18m and £35m.
With the Premier League’s ‘Project Restart’ given the go-ahead, senior figures at Carrow Road are now expecting those losses to be closer to the £18m mark, with almost half of that figure coming from a loss of matchday and commercial revenue.
Norwich are rooted to the bottom of the Premier League table, 6 points from safety, and Daniel Farke’s side will need to perform out of their skin to secure what would be the most improbable survival.
Relegation not only comes with a drop in division but with a significant drop in revenue, largely due to the astronomical Premier League broadcast rights.
Norwich City had been projecting to make a profit for the 2019-20 season of around £16m before the coronavirus pandemic struck.