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The pandemic takes its toll on Tottenham with 72 million in losses

BeSoccer by BeSoccer @besoccer_com - 0 307

Pin Tottenham face a tough financial situation. AFP
Tottenham face a tough financial situation. AFP

The pandemic takes its toll on Tottenham with 72 million in losses

BeSoccer by BeSoccer @besoccer_com - 0 307

Clubs are taking advantage of the fact that 2020 is coming to an end to take stock of the situation. Tottenham revealed how the year went in terms of finances. The president, Daniel Levy, confirmed that the pandemic has affected them seriously: they have registered losses of about 72 million.

The 2019-20 season will always be remembered for COVID-19. The virus appeared in full force and disrupted absolutely everything.

The pandemic, still latent, has had catastrophic economic consequences. Football was not spared.

Tottenham released their balance sheet for the period up to June 2020. Its losses are 71.9 million euros.

453 million went into Spurs' coffers. The previous year during the same period the club registered 518 million.

Daniel Levy, president of the club, spoke about those accounts. "The impact of the pandemic on our income is significant and could not have come at a worse time. We have just completed the construction of the stadium, which is being financed by club resources and long-term debt. There are still no fans and no events are being held..." he said.

And he predicted another year with negative accounts: "Our estimate for the current financial year if the stadium remains closed is over 168 million euros. It would be an irrecoverable loss of income".

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