Kieran Maguire salutes Aston Villa after record-breaking £184m finance reveal this wk

Aston Villa “deserve credit” for taking out business interruption insurance to soften the financial blow of the pandemic.

That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about Villa’s accounts for the year ending 31 May 2021.

Villa posted a £37.3million loss on a record turnover of £183.6m in the figures published to Companies House on Tuesday (1 March).

Losses fell dramatically from the £99.2m deficit of the previous 12 months, which was the second-biggest loss in the league at the time.

The club estimated the total cost of the Covid crisis at £56m as fans were barred from Villa Park.

Maguire analysed the results and hailed the club’s foresight to take out insurance to alleviate some of the pandemic’s financial impact.

“These results are good as can be expected,” he told Football Insider‘s Adam Williams.

“You have to treat them with a lot of caution because the 2020-21 games included a lot more games because of the rollover of games from 2019-20.

“That has meant there was a signficant increase in broadcast income. That was a driver in terms of the overall impact.

“Wages did increase significantly too but the reduction in losses was driven by those technical reasons.

“Villa do, however, deserve credit for taking out business interruption insurance and getting £2.5m from that. Not all clubs did that.”

Aston Villa

Villa finished 11th in the Premier League 2020-21.

They had a negative net transfer spend of approximately £90m for the season.


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By: Kieran Maguire
Title: Kieran Maguire salutes Aston Villa after record-breaking £184m finance reveal this wk
Sourced From: www.footballinsider247.com/aston-villa-saluted-by-maguire-after-37m-accounts-reveal/
Published Date: Fri, 04 Mar 2022 07:49:55 +0000