Reporting Sports in a refreshing style

Tottenham will suffer serious loss of income without fan attendance

Tottenham Hotspurs will suffer a loss of more than £150m if the stadium remains closed to fans for the rest of the financial year, says chairman Daniel Levy.

“We are in one of the most challenging times ever experienced,” said Levy, referring to the Covid-19 pandemic.

The club posted a loss of £63.9m after tax in its year end financial results.

“The pandemic could not have come at a worse time, having just completed a stadium build which is financed by club resources and long-term debt,” added Levy, whose club made a profit of £68.6m last year.

“The 2020-21 season has so far seen no fans at games and this is compounded by a loss of third party events such as NFL, concerts, the closure of stores and visitor attractions.”

read also:Tottenham post £64m loss

He continued: “Our estimate for the current financial year of the potential loss of revenue, should the stadium remain closed to fans, is in excess of £150m.

“Clearly this would be an irrecoverable loss of income.”

Tottenham’s new 62,062-capacity stadium cost £1.2bn and match day revenue and events held outside of football, are an essential source of income for a club that posted a net debt of £604.6m.

Loading...
You might also like
Comments
Loading...