Tottenham stand to lose £83m after £400m+ announcement - Sources
Tottenham stand to lose £83million if the season is voided, Football Insider has learned.
The club recently announced their turnover had soared to £461million for the year ending 30 June 2019 with a pre-tax profit of £87.3m secured.
But the prospect of a premature completion of the season with no more matches played would put a massive dent in the previously rosy finances of London’s richest club.
Premier League clubs are facing a combined bill of around £750million if the season ended now.
The worst affected would be the teams at the top of the table, as they would miss out on bigger chunks of broadcasting revenue.
Analysis by Football Insider has shown that Tottenham would lose around £83m from the seismic drop in broadcasting, matchday and commercial revenue.
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This is made of a loss of around £17m from their remaining home matches, £42m from TV cash and a potential £24m from commercial and merchandising.
The Spurs board have secured massive revenue growth and profits in the last seven years, and that has been underpinned by progress in Europe.
Last week, Tottenham attracted widespread criticism when they announced they would be using the government’s furlough scheme to pay 550 non-playing staff and “protect jobs”.
The Premier League announced last Friday the season is indefinitely suspended due to the coronavirus pandemic that has brought global sport to a halt.
Top-flight clubs are assessing various options to complete the season, including continuing well into the summer, playing matches behind closed doors and at neutral venues.
In other Tottenham news, it can be REVEALED that the door has opened for the club to seal their first summer signing.