Tottenham reveal pre-tax losses of almost £ 150 million under Covid-19

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Tottenham have revealed their financial results for the year ended June 30, 2021, where the club has suffered a pre-tax loss of almost £ 150 million over the past two years.

Like all football clubs, Spurs have been financially affected by Covid-19 and often earn a large proportion of their money on match day income. Their match revenue fell from £ 94.5 million in June 2020 to just £ 1.9 million a year later.

Elsewhere, there is almost a negative difference of 25 million pounds in UEFA prize money due to Tottenham dropping out of the Champions League after a four-season stay in Europe’s top club competition. They were in the Europa League last season and are in the Europa Conference League this semester.

The club’s total revenue has fallen from 402.4 million pounds to 361.9 million pounds, with substantial TV and media cash that prevents an even steeper decline.

In a statement on Tottenham’s website, chairman Daniel Levy said: “The financial results published for our year ending June 30, 2021, reflect the challenging period of the pandemic and the incredibly damaging timing of covid-19, which coincided, as it did, with the opening of our stadium in April 2019. With no less than three locks, our business was severely disrupted, even though this was secondary to the impact that everyone felt in their personal and family lives.

“Many of our staff continued to work through all the shutdowns to keep the arena open for local food distribution, NHS vaccination and maternity clinics, along with some important club activities. We are extremely grateful to them.

“We report our results at a time when we are delighted that our fans can return to the arena to cheer on the players. I would like to express a special thank you for their continued support during this extremely difficult period.”

Levy also spoke about how the appointments of Fabio Paratici and Antonio Conte highlight Spur’s ambition, who had previously overseen the disastrous appointment of Nuno Espirito Santo at the start of the campaign, before looking to the future.

He added: “Sustainability is a key word in football. We have seen how fragile a football club’s finances can be and how losses affect the stability of the football pyramid. As guardians, we must protect the club for future generations of fans.

“We have come a long way and we have so much further to go. We remain relentlessly ambitious and are determined to deliver awards and make our supporters proud.”

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