Aberdeen expect to have £5m in outgoings without any income until July 'at the earliest'
Monday 23 March 2020 14:09, UK
Aberdeen are "doing everything" they can to stay afloat as they attempt to cope with the financial difficulties caused by the coronavirus pandemic, says chairman Dave Cormack.
Football in Scotland has been suspended indefinitely and will not resume before April 30, says the Scottish FA.
Aberdeen's chairman says "realistically" football will not return until July "at the earliest" which would leave them without income during that period while still racking up £5m in outgoings.
Cormack says the club are fighting "to protect our hard-working, dedicated and loyal workforce and all those who depend on the club" but adds that the situation is "clearly unsustainable".
A statement from Cormack said: "What we do know is that we are facing a collapse of income that is going to be almost impossible to sustain for a prolonged period.
"This situation is clearly unsustainable. No club, whatever their size, scale or level of investment, can withstand a total lack of income over a period of anything between three to six months.
"We are doing everything we can to mitigate this over the next few months and protect our hard-working, dedicated and loyal workforce and all those who depend on the club."
Aberdeen are fourth in the Scottish Premiership - one point off the second Europa League spot currently held by Motherwell - and are scheduled to face Celtic in the semi-final of the Scottish Cup.
"Three weeks ago we were in a healthy financial position; free of external debt, with £1.5m in the bank," the statement from Cormack continued.
"We had expected income of about £1m from four home league games and the Scottish Cup Semi-Final and, potentially, £5m in season ticket sales, seasonal hospitality and new shirt sales coming in through mid-July.
"Our monthly running costs are about £1.2m and it's only prudent to assume that, realistically, there will be no football until July perhaps, at the earliest.
"During this period, we are therefore facing £5m in outgoings with no expected income. No matches are planned and we have no idea when a new season starts, never mind the current season ending, and it is highly unlikely there will be any player sales in the summer.
"Once we have answers to these questions, the Board will recommend a course of action to ensure the club's future. This will include asking investors, including myself, to support the plan. We will be facing some tough decisions and we will need everyone to come together and play their part in efforts to make sure the club get through this period."
