Daniel Levy has warned Tottenham could lose more than £150million if their stadium remains closed to fans.
The Spurs chairman made the claim as the north London club announced losses of £63.9m for the year ending June 30, 2020 on Monday morning.
Tottenham’s stunning stadium opened in April 2019 – less than one year before it was closed due to the coronavirus pandemicGetty Images – Getty
Tottenham’s stadium, which cost £1.2billion to build, was only open to supporters for 11 months before the coronavirus pandemic forced its closure in March – with football still taking place behind closed doors.
Subsequently, Spurs’ revenue dropped from £460.7m in the year ending June 30, 2019 to £402.4m.
Levy admitted the pandemic ‘could not have come at a worse time’ and has backed the return of fans to stadiums in the UK.
In a statement, he 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.
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“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 £150m. Clearly this would be an irrecoverable loss of income.
“Each and every Premier League club makes a significant financial and social contribution to the UK economy and to their local communities as well as being a great British export often showcased by government departments for trade and culture visits.
“We have spent the past months preparing our stadium, testing our digital ticketing process and registering ID validation for fans.
Levy sent the warning as Tottenham’s financial results were releasedAFP or licensors
“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.”
In an interview with talkSPORT last week, Oliver Dowden, the Secretary of State for Digital, Culture, Media and Sport, gave a positive update on fans returning to stadiums.
Asked about the possibility of supporters coming back before Christmas, Dowden said: “There is definitely a chance [of that happening].
“Obviously in all of this we have to be guided by scientific evidence.
“We’re in close discussions with the centre of government about what we could do as we go back into the tiering system to see whether there’s a possibility in the lower risk areas.
“If we can just open the door ajar a little bit and start to prove in the lower risk areas that we can make this work then I’d love for us to be able to do that.”