Nine months without an authorized fan inside the 62000 Tottenham Hotspur stadium opened in April 2019, the Spurs made a profit of 68. 6 million pounds for the 2018-19 season into a loss of 63. 6 million pounds last season.
But the Spurs also have to pay really large debts of 16 million pounds a year in their shiny new home, Levy has the scope of the currency crisis that even the world’s biggest clubs face.
Levy said: “Lately we’re in the middle of one of the hardest times in history.
“The effect of the pandemic on our income is significant and may not have come at a worse time, after completing the structure of a 1. 2 billion pound stadium, funded by club resources and long-term debt. “
“The 2020/21 season has not been enthusiastic about games and this is compounded by the loss of third-party occasions such as the NFL, concerts, store closures and tourist attractions.
“Our estimate for the current fiscal year of lost revenue, if the stadium remains closed to fans, exceeds 150 million pounds.
“Obviously, it would be an unrecoverable loss of income. “
The Spurs had outperformed London rivals Chelsea and Arsenal to rank fourth on Prem’s winning table with a profit source of 460. 7 million pounds in 2018-19.
Moving into your new home is a higher source of income on game day before the pandemic.
The Spurs played 14 Prem games at Tottenham Hotspur last season, charging 81. 9 million pounds, an average source of revenue of 5. 85 million pounds per home game.
In addition, Champions League and House Cup matches earned the Spurs another 12. 6 million pounds, while advertising revenue rose more than 19% to 161. 5 million pounds.
But TELEVISION revenue fell when the pandemic ended and Europe expected to leave, falling from 54. 7 million pounds to 95. 2 million pounds, bringing total revenues down to 402. 4 million pounds.
Levy was forced to back down after the government’s licensing program, before the Spurs applied for a loan of 150 million pounds, at low interest rates, from the Bank of England.
The club also opened the stadium at North Middlesex Local Hospital as a transitional outpatient service, while Levy highlighted the Spurs’ 4,000 direct and indirect jobs.
And he suggested the government respond to the latest vaccine news and the club’s efforts to create an environment.
Levy said: “Every Premier League club makes a monetary and social contribution to the UK economy and its local communities.
“We have spent the last few months in our stadium, testing our virtual ticketing procedure and recording identity validation for fans.
“Premier League clubs are able, as the delight of several other countries, to host outdoor events in a responsible manner with a social distance.
And we will be offering exemplary hygiene standards, qualified delegates, control functions and varied plans, operating at some of the world’s most technologically complex sites.
“We believe that fitness and protection are paramount and have been encouraged by the latest news about advances in vaccines and potential clinical passports. “
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