Premier League faces prospect of losing £1.2BILLION if season is abandoned

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Doubts have been raised over whether the Premier League are insured for the £762million they would owe Sky and BT if the season is not completed due to the coronavirus pandemic.

Senior officials in the game do not believe that the Premier League or other major European leagues in Italy, Spain or Germany are covered against potentially crippling financial losses.

The gargantuan sum would be because of a breach in contract terms agreed for domestic and international television rights. 

DFL chief executive Christian Seifert said: 'No league has insurance against pandemics.

Leagues have insurance to cover cancelled matches and some clubs have tried to insure against a pandemic but the insurance payments would have been impossibly high.'

Premier League sides have received their full allocation of money for the season and some are now keen to play games behind closed doors to ensure that fixtures are fulfilled so they can keep their broadcast revenue. A lot of teams are banking on the broadcast revenue to help them with their own outgoings, mainly players' wages.major European league is covered.