Are Premier League clubs recession proof?

Football is an industry awash with cash, but as economists and analysts continue to speculate about the possibility of a downturn in 2020, how will clubs cope with the economic uncertainty that could compromise their financial stability?

While it is common knowledge that financial institutions and major corporates prepare for a possible downturn on an ad-hoc and long-term strategic basis, it is less clear if football clubs envisage a change of circumstances influenced by macro-economics.