Tottenham Post 64m Loss, Warn Of 150m Hole For 2020/21
Muhammad Rameez Published November 23, 2020 | 09:19 PM
Tottenham Hotspur announced losses of 63.9m ($85 million) on Monday and warned that a further 150 million revenue will be lost in the 2020/21 season should fans not be allowed back into stadiums
London, (APP - UrduPoint / Pakistan Point News - 23rd Nov, 2020 ) :Tottenham Hotspur announced losses of 63.9m ($85 million) on Monday and warned that a further 150 million revenue will be lost in the 2020/21 season should fans not be allowed back into stadiums.
Spurs have also been hit by the cancellation of NFL games, concerts and conferences at the club's new 1.2 billion stadium.
The Premier League leaders' revenue dropped from 59 million to 402 million for the year ending June 30.
Broadcasting income was down 95 million due to the late finish to the league season which will defer some revenue into next year's accounts, and an earlier exit from the Champions League as Spurs were knocked out in last 16 after reaching the final in 2018/19.
Matchday revenue was up by 13 million to 94.5 million thanks to the club's first full season in the new stadium before fans were shut out in March.
Chairman Daniel Levy warned of the financial hole caused by eight months and counting behind closed doors.
"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," Levy said in a statement.
"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."Despite the financial hit, Levy backed manager Jose Mourinho with seven new signings in the transfer window, including the return of Gareth Bale on loan from Real Madrid.
Levy's faith has been rewarded with an eight-game unbeaten run in the league which has carried Spurs to the top of the table for the first time in six years.
Related Topics
Recent Stories
UHS to issue MBBS degrees within three months after final result
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
More Stories From Sports
-
UCP wins Judo Championship 2024
4 minutes ago -
Governor KP visits Khyber Girls Medical College
4 minutes ago -
Selection committee named girls & boys for PM National TT League
24 minutes ago -
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
4 hours ago -
'Serious talent' Fraser-McGurk bonds with Warner to light up IPL
6 hours ago -
Rashid Latif for arranging Pakhtunkhwa Super League
17 hours ago
-
Shadab Khan upbeat about lifting ICC T20I WC 2024
19 hours ago -
Ruben Amorim: Portugal's next coaching superstar, tipped for Liverpool
22 hours ago -
Sports Complex of FDA City opened for its members
23 hours ago -
VC IUB inaugurates Intervarsity Judo Championship
23 hours ago -
Australian Open Junior Squash medalists warmly welcome on arrival Peshawar
24 hours ago -
Rizwan’s batting order may be changed: Sources
1 day ago