Tottenham could lose over ÂŁ150 million if the stadiums remain closed to fans, proclaims Daniel Levy
Tottenham chairman Daniel Levy has revealed that the North Londoners could lose over ÂŁ150 million in revenue if they continue to play without fans for the remainder of the financial year. Most leagues across Europe have been playing behind closed doors to help curb the spread of the COVID-19 virus.
While leagues across Europe slowly but steadily open up their doors again, Europe’s major leagues aren’t looking to do the same with Germany recently closing their stadium doors. That was in order to combat the second wave of the coronavirus pandemic while both the Italian and the English leagues haven’t opened their doors at all. That has seen an outcry of support against that as theatres, malls and other public places slowly open up.
While England has also been hit by the second wave of the coronavirus, fans and critics alike have been screaming for stadiums to be re-opened especially in the lower leagues. However, it has seen Daniel Levy admit that unless fans are allowed back inside, Tottenham could lose over £150 million in revenue by the end of the current financial year. The Spurs chairman further added that this “would be an irrecoverable loss of income” for the club especially in a pandemic.
“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 £1.2 billion stadium build which is financed by club resources and long-term debt," Levy said, reported the Times.
“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. Our estimate for the current financial year of the potential loss of revenue, should the stadium remain closed to fans, is in excess of £150 million. Clearly this would be an irrecoverable loss of income.”