Financial Report: Fearing £150 million revenue loss, Tottenham's accounts show worst is yet to come for football
23 November 2020
The Premier League club recorded a loss of £67.7 million last season largely owing to an increase in payable interest and amortisation, coupled with declining revenue.
Operating expenses rose mainly due to a full year of depreciation of the Tottenham Hotspur Stadium.
Spurs have refinanced their debt position and brought the weighted average interest rate down, but the club's liabilities nonetheless rose by more than £70 million.
Tottenham Hotspur recorded a pre-tax loss of £67.7 million for the 2019/20 season signalling a marked decline on the £87.4 million profit the year prior, according to a just-released statement on their financial report, but that deficit could rise materially as the coronavirus pandemic continues to weigh on football.
"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," chairman Daniel Levy said in the statement that provided a brief overview of last season's key figures.
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