MX23RW : Sunday, January 24 18:29:32| >> :120:26229:26229:

Daniel Levy warns of "irrecoverable loss of income" if grounds remain shut

Daniel Levy warns of
© Reuters
Tottenham posted a £63.9million loss for the year ending June 30.

Tottenham chairman Daniel Levy has warned of an "irrecoverable loss of income" if grounds remain closed to fans after the club posted a £63.9million loss for the year ending June 30.

The figures stand in stark contrast to the £68.6m profit for the preceding 12 months, and come amid a coronavirus pandemic which Levy conceded "could not have come at a worse time" for the clubs.

Reduced Champions League receipts, shortfalls in matchday and media revenues related to the pandemic, and an increase in operational costs by more than £40m all contributed to the deficit.

Levy said: "We are currently in the midst of one of the most challenging times ever experienced.

"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.

"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.

Tottenham Hotspur v Manchester City – Premier League – Tottenham Hotspur Stadium
Tottenham have battled on behind closed doors (Kirsty Wigglesworth/PA)

"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 move behind closed doors, Spurs reported an increase in matchday and catering receipts to £81.9m, compared to £64.2m in the previous year, when the majority of the club's matches were staged at Wembley.

Levy reiterated his belief that Tottenham, in common with their Premier League rivals, are equipped to enable the safe return of spectators as soon as government rules allow.

"We have spent the past months preparing our stadium, testing our digital ticketing process and registering ID validation for fans," added Levy.

"Premier League clubs are entirely capable, similar to the experience in several other countries, of responsibly delivering outdoor events with social distancing, exemplary hygiene standards, qualified stewards, testing capabilities and diverse travel plans, operating in some of the most technologically advanced venues in the world.

"We recognise that health and safety are paramount and we have been encouraged by the latest news on vaccine developments and potential Clinical Passports."

Latest coronavirus PSA banner

Coronavirus outbreak - Click here for more stories

Click here for more stories about Daniel Levy

Click here for more stories about Tottenham Hotspur

Share this article now:
Did you know...?
Declan Rice warms up for West Ham on October 30, 2020
Read Next:
David Moyes: 'West Ham cannot become over-reliant on Declan Rice'
Latest Sports Video
Sports Mole Logo
Enter your email address to subscribe to Sports Mole's free match previews newsletter! Updates are sent twice a week.
Read more about Daniel Levy Football

rhs 2.0
Todays Game Header Right
FA Cup
La Liga
Serie A
Ligue 1
Primeira Liga
Scottish League Cup
Turkish Super Lig
Belgian Pro League
Greek Superleague
Swiss Super League
Segunda Division
Serie B
Eerste Divisie
Uruguayan Primera Division
Liga MX
Australian A-League
Premier League 2 - Div 1
Women's Super League
African Nations Championship
1Manchester UnitedMan Utd19124336251140
2Manchester CityMan City18115231131838
3Leicester CityLeicester19122535211438
5Tottenham HotspurSpurs1896333171633
7West Ham UnitedWest Ham199552722532
8Aston Villa1792631181329
12Leeds UnitedLeeds187293034-423
13Crystal Palace196582233-1123
14Wolverhampton WanderersWolves196492129-822
16Newcastle UnitedNewcastle1954101832-1419
17Brighton & Hove AlbionBrighton193882229-717
19West Bromwich AlbionWest Brom1925121543-2811
20Sheffield UnitedSheff Utd1912161032-225

Subscribe to our Newsletter

Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!