Coronavirus hits Spurs for millions
Club faces losses of more than £150m in 2021 if fans are not allowed back into stadiums
Bengaluru — Tottenham Hotspur suffered a net loss of £63.9m in the past financial year as the Covid-19 pandemic disrupted schedules and forced games to be played in empty stadiums, the Premier League club says.
Spurs said revenue for the year ended June 30 was £402.4m, down from £460.7m in the previous year. Television and media revenue decreased from £149.9m in 2019 to £95.2m this year as a result of revenue being deferred to the 2020-2021 season for games played after the year’s end. Spurs’ net debt rose from £534.3m to £604.6m.
“We are in the midst of one of the most challenging times ever experienced,” chair Daniel Levy said. “The impact of the pandemic on our revenue is material and could not have come at a worse time, having just completed a £1.2bn stadium build which is financed by club resources and long-term debt.”
Levy also said Spurs, who top the Premier League standings with 20 points from nine games, face losses of more than £150m in 2021 if fans are not allowed back into stadiums.
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