Tottenham will suffer serious loss of income without fan attendance – chairman

Soccer - Tottenham Hotspur Stadium Test Event - Under 18 Premier League - Tottenham Hotspur v Southampton - Tottenham Hotspur Stadium, London, Great Britain - March 24, 2019 General view of the stadium interior during the match REUTERS / David Klein
Reuters

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

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

The club posted a £ 63.9 million loss after tax on its year-end financial results.

“The pandemic could not have come at a worse time, having completed the construction of a stadium that is financed with club resources and long-term debt,” added Levy, whose club made a profit of £ 68.6 million last year. .

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

He continued: “Our estimate for the current financial year of the potential loss of revenue, if the stadium remains closed to fans, exceeds £ 150 million.

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

Tottenham’s new 62,062-capacity stadium cost £ 1.2bn and revenue from match day and events outside of football is a key source of revenue for a club that posted a net debt of 604, 6 million pounds.

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