Hibernian are expecting to lose half their revenue for the 2020-2021 season and have warned of a “substantial and unsustainable strain on the club’s finances” as a result of the coronavirus pandemic.
Like most football clubs, Hibs are having to face up to the financial cost of COVID-19 as they look to ensure the long-term viability of the club.
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The Edinburgh side has gone from boasting a healthy surplus earlier in the year to being forced to agree pay deferrals of between 20 and 50 per cent for players and staff in April, and have now revealed they are “embarking on a process of consultation with our people over proposals to find cost reductions.”
With the Scottish Premiership season now officially finished after clubs voted to curtail the current campaign, thoughts have already turned to the 2020/21 season.
Hibernian and Hearts have held discussions with the Scottish Rugby Union about hosting games at “bio-secure” Murrayfield Stadium at some point in the future, where social distancing measures in crowds could be more easily managed.
But with matches likely to be played behind closed doors or in front of severely reduced crowds to begin with, Hibernian have warned of difficult times still to come, while thanking their supporters for the support they have shown in recent months.