The 20 English top-flight clubs had a combined revenue of more than £5bn for the first time in 2018-19.
But this season has been on hold since March, and the 92 remaining matches will be held behind closed doors.
And Deloitte’s Dan Jones expects “significant revenue reduction and operating losses” in European football.
Deloitte says £500m of the reduction for Premier League clubs – in rebates to broadcasters and a loss of matchday revenue – will be “permanently lost”, with the remainder “deferred” until 2020-21 if this season and next are completed.
Manchester United said last month that the pandemic had already cost them £28m – but they expect the final figure to be far higher.
Key findings from Deloitte’s annual review of football finance
- The Premier League clubs’ revenues rose to £5.2bn in 2018-19 – up 7% on the previous year.
- The ‘big five’ European leagues (England, Spain, Italy, Germany and France) generated a record £15bn in revenue – up 9%.
- Premier League clubs’ aggregate operating profits fell 5% to £824m.
- The 92 Premier League and Football League clubs generated a record £6.2bn in revenue, and contributed £2.3bn in taxes to HMRC (2017-18: £2.1bn).
- Premier League clubs made combined pre-tax losses of £165m.
Source: Myjoyonline