Tottenham chairman Daniel Levy has vowed to ensure the coronavirus crisis does not send the club into financial turmoil amid the biggest challenge in his 20-year tenure.
Spurs announced their financial records for the 2018/19 campaign on Wednesday, although Levy was keen to stress this was due to legal necessity and there are far more important things going on.
Nonetheless, the club were able to reveal £460million in revenue, the fourth-highest in the Premier League, a quarter of which came from their run to the Champions League final.
However, Tottenham’s £68.6m profit for the 2018/19 campaign was nearly £45m less than they made during the previous season.
It is not yet clear how, or indeed whether, the current campaign will resume due to the ongoing Covid-19 pandemic, and while Levy understands the extent of the crisis, he was keen to offer fans reassurance about Tottenham’s future.
“We are painfully aware that it seems wholly inappropriate to be giving any attention to the prior year’s financial results at a time when so many individuals and businesses face worrying and difficult times,” Levy said in a statement.
“We are, however, legally required to announce these by 31 March 2020.
“We are all facing uncertain times both at work and in our personal lives. I have spent nearly 20 years growing this club and there have been many hurdles along the way – none of this magnitude – the COVID-19 pandemic is the most serious of them all.
“You will have noticed that we have, as a necessity, ceased all fan-facing operations.
“With such uncertainty we shall all need to work together to ensure the impact of this crisis does not undermine the future stability of the club.
“This will include working with the wider football industry and its stakeholders to seek to restore the season – but only when it is safe and practical to do so.
“Our priority is the health and well-being of our staff, players, partners, supporters and their families.
“We shall look to come out of this stronger and more resilient than ever. Our hope is that the virus peaks over the coming weeks and that we have a summer to enjoy.
“Please look after yourselves and stay safe and healthy. This is more important than football.”
Tottenham chairman Daniel Levy has vowed to ensure the coronavirus crisis does not send the club into financial turmoil amid the biggest challenge in his 20-year tenure. Spurs announced their financial records for the 2018/19 campaign on Wednesday, although Levy was keen to stress this was due to legal necessity and there are far more […]