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Premier League clubs lost £600 million in season before virus, says report

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Premier League clubs made a combined loss of £600 million in the 2018/19 season, even before suffering the financial pain of the coronavirus pandemic, a report revealed on Tuesday.

Analysis from football finance experts Vysyble shows the 20 clubs in the English top-flight combined to post the huge loss despite record revenues of £5.15 billion ($6.6 billion)

The financial impact of COVID-19 is set to have a huge impact on the Premier League, even if plans to complete the current season behind closed doors go smoothly.

Premier League sides face paying a reported £330 million to broadcasters in rebates as matches could not be completed on schedule.

An estimated £126 million could also be lost in matchday income from gate receipts and hospitality.

“The COVID-19 virus is not the cause of football’s financial distress. It is merely the accelerant on what our data has very clearly and very correctly identified as a much longer-term problem,” said Vysyble director Roger Bell.

“The 2018/19 numbers are a disturbing and profoundly worrying financial outcome from England’s senior football divisions and is symptomatic of the deeper issues with the overall financial model.”

Wage costs for Premier League clubs have risen to £3.12 billion.

Everton posted alarming losses of £111 million, while Chelsea’s failure to qualify for the Champions League saw the Blues lose £96 million.

Yet the most worrying sign for the future financial health of the league may come from Tottenham.

Spurs posted a league-high profit of £68.6 million for the 2018/19 season on the back of a run to the Champions League final.

But the London club announced last week they had borrowed £175 million from the Bank of England.

They fear they could lose £200 million over the next year due to the loss of matchday income, cancellation of non-football events such as NFL matches and concerts and rebates owed to broadcasters.

“Our data has consistently demonstrated that football has been the master of its own misfortune with an over-reliance on TV revenues, staff cost-to-revenue ratios regularly in excess of safe operating limits (UEFA guidance recommends 70 per cent) and a failure to recognise key financial dynamics and trends,” added Bell.

The economic outlook for the Championship is also bleak.

Four Championship clubs have yet to release their full 2019 accounts, but the second tier of English football has so far combined for economic losses of £307 million.

The final economic loss total for all 24 EFL Championship clubs is expected to be at least £350 million.

Reporting and photos: AFP

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Umair Badheeu sets new, national freediving record at AIDA Philippines National Championship

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Maldivian freediver Umair Badheeu has achieved a new national record with a dive to a depth of 62 meters in the bi-fin category. His accomplishment was made possible with the support of Kaimoo Resorts and Hotels, a key sponsor and advocate for Umair’s pursuit of excellence in freediving.

Competing among 14 international participants, Umair’s performance not only secured a new national record but also surpassed his previous bi-fin category record of 60 meters by a margin of two meters.

Reflecting on the challenges of transitioning from his training in Egypt to competing in the Philippines, Umair said: “Adapting to reduced buoyancy due to warmer waters and encountering jellyfish were part of the new environment.”

This marks the third national record Umair has achieved. He previously set two national records of 62 and 64 meters in the free immersion category of free diving at the Andrea Zuccari World Cup held in Sharm El Sheikh in Egypt in October. Free immersion freediving is a discipline that requires divers to descend and ascend pulling a rope.

Umair’s switch from training in free immersion in Egypt to the bi-fin category for this tournament demonstrated his adaptability: “It felt like shifting gears, utilising distinct techniques, and returning to a more familiar discipline. This dive marks a confident depth for me, focusing not just on depth but also on refining dive times for a more enjoyable experience,” he remarked.

“Kaimoo’s support has been instrumental, offering me the freedom to train. This support has allowed me to focus on honing my skills and achieving new heights in my freediving,” Umair added.

“Umair’s third record-breaking dive this year is a testament to his exceptional skill and determination. Kaimoo is thrilled to continue supporting Umair’s journey in the world of freediving. His achievements inspire us, and we congratulate him on this impressive feat, looking for-ward to his continued success,” said Mohamed Manih Ahmed, Kaimoo’s Managing Director.

With this record-breaking achievement, Umair now looks forward to a period of rest before gearing up for the upcoming freediving season.

Kaimoo Resorts and Hotels is a leading tourism company in the Maldives that manages five properties across the country. In addition to Embudu Village and Summer Island Maldives, Kaimoo also operates Equator Village in Addu Atoll, and the Mookai Hotel and Mookai Suites in Male’.

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Kuramathi Maldives and Rasdhoo Divers dive into adventure with speciality courses

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Kuramathi Maldives, in collaboration with Rasdhoo Divers, is elevating the underwater experience by offering a captivating range of Dive Speciality Courses, tailored for both novices and seasoned divers alike. These courses go beyond the ordinary, immersing participants in topics such as Perfect Buoyancy, Wave, Tides and Currents, Turtle Ecology, Manta Ecology, Marine Ecology, Deep Diver Speciality, and Enriched Air Nitrox Speciality.

Perfect Buoyancy: Master the art of achieving and maintaining perfect buoyancy underwater, ensuring a seamless and enjoyable diving experience.

Wave, Tides, and Currents: Dive enthusiasts can now confidently navigate ocean dynamics, enhancing their skills in diverse underwater conditions.

Turtle Ecology: Gain insights into the captivating world of sea turtles, understanding their behavior, and contributing to their conservation.

Manta Ecology: Delve into the mysterious realm of majestic mantas, exploring their habitat, behavior, and the crucial role they play in marine ecosystems.

Marine Ecology: Discover the delicate balance of marine ecosystems and learn how divers can contribute to their preservation through responsible and sustainable practices.

Deep Diver Speciality: Embark on a thrilling adventure below 18 meters, gaining advanced skills for deep-sea exploration and mastering safe diving techniques and pressure management.

Enriched Air Nitrox Speciality: Unlock the secrets of the deep with Nitrox, ensuring safer and longer dives. Enhance your dive planning, elevate safety, and indulge in extended reef adventures.

These Dive Speciality Courses at Kuramathi Maldives are designed not only to enhance participants’ diving skills but also to instill a sense of environmental awareness and responsibility. As custodians of the pristine underwater environment, Kuramathi Maldives is committed to nurturing a community of conscientious divers dedicated to appreciating and protecting delicate marine ecosystems.

Led by certified dive instructors from Rasdhoo Divers Kuramathi, these courses provide a safe and enjoyable learning experience. Whether you are a beginner eager to explore the underwater wonders or an experienced diver looking to expand your knowledge, Kuramathi Maldives invites you to embark on a journey of discovery beneath the azure waves.

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Visit Maldives collaborates with Surf Session and Kyllian Guerin to promote the Maldives as a leading surf destination

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Visit Maldives has collaborated with ‘Surf Session’, a media platform dedicated to surfing. An exciting familiarisation trip and a digital campaign was conducted to promote the Maldives as a leading surf destination in the French market. The digital campaign was conducted on social media and the Surf Session website.

During the first part of the campaign, a young surfer, Kyllian Guerin, accompanied Surf Session on a week-long trip where he surfed and explored the best waves of the Maldives. Ayada Maldives, Adaaran Select Hudhuranfushi, and Cinnamon Dhonveli Maldives hosted this familiarisation trip. Kyllians’ journey was captured and brand content in the form of Instagram stories, posts, articles and banners were disseminated on Kyllian Guerin and Surf Session social media platforms and official website. As for the second part of the campaign, digital and print articles highlighted the surf lifestyle in the Maldives and were published on Surf Session website. Additionally, an exciting video of Kyllian’s journey in the Maldives was posted on YouTube, showcasing the beauty of the surf spots of the destination.

The campaign strengthened Maldives’ presence as a premium surf destination and drove excitement among Surf Session’s readership and surfing community. The campaign increased visibility for French surfers and further strengthened the Maldives brand in the French market. Collaborating with prestigious media like Surf Session and influential personalities like Kyllian Guerin allows MMPRC to capture the attention of potential surfers and travel enthusiasts alike, encouraging them to choose the Maldives as their preferred holiday destination. The entire campaign resulted in over a collective reach of 919,209.00.

The current ranking of France is at #8 with 41,072 arrivals as of 31st October 2023. MMPRC is consistently promoting the Maldives in the French market through various marketing activities. This year, we conducted a campaign with Vogue France and IFTM Top Resa 2023. We also plan to promote the Maldives at ILTM Cannes 2023 later this year. These marketing activities ensure the Maldives remain a top-of-mind destination for travellers from the French market.

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