Spurs apologetically release financial results with £45m drop in profits

first_img4TOTTENHAM HOTSPUR have released their financial results for the year ended June 30, 2019 – while recognising the awkward timing of the announcement given the coronavirus pandemic.Spurs were required by law to make their financial figures public by March 31.⚠️ Read our Coronavirus in Sport live blog for the latest news, updates and cancellations4 Daniel Levy has recognised the awkwardness of the timing of the the club having to announce their financial resultsCredit: PA:Press AssociationThe North Londoners’ revenue increased by £80million from 2018, owing much to the prize money earned from reaching the Champions League final.Money received for their European run increased from £62.2million the year before to a staggering £108.4million, after the journey that saw Spurs fall at the final hurdle to Liverpool in Madrid.Despite prolonged delays to the completion of the Tottenham Hotspur Stadium, which finally opened in April 2019, Spurs still registered a profit of £68.6million after tax.This figure is down around £45million from the year prior.Speaking out on the results, and the awkward timing of them given Covid-19, chairman Daniel Levy said: “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.”We are however legally required to announce these by 31 March 2020.TOTTENHAM NEWS LIVE: FOLLOW LATEST SPURS UPDATES4“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 wellbeing of our staff, players, partners, supporters and their families.Please look after yourselves and stay safe and healthy. This is more important than football.Daniel Levy“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.”CORONAVIRUS CRISIS – BE IN THE KNOWGet the latest coronavirus news, facts and figures from around the world – plus essential advice for you and your family.To receive our Covid-19 newsletter in your inbox every tea time, sign up here.To follow us on Facebook, simply ‘Like’ our Coronavirus page.LATEST TOTTENHAM NEWSHARRY ALL FOUR ITKane admits Spurs must win EIGHT games to rise into Champions League spotGossipALL GONE PETE TONGVertonghen wanted by host of Italian clubs as long Spurs spell nears endBELOW PARRSpurs suffer blow with Parrott to miss Prem restart after appendix operationPicturedSHIRT STORMNew Spurs 2020/21 home top leaked but angry fans slam silver design as ‘awful”STEP BY STEP’Jose fears for players’ welfare during restart as stars begin ‘pre-season’KAN’T HAVE THATVictor Osimhen keen on Spurs move but only if they sell Kane this summerYOU KAN DO ITKlinsmann quit Spurs to win trophies but says Kane’s better off stayingTURBULENT PAIRINGDrogba and Mido had mid-flight brawl after stewardess prank went wrongThe Premier League is currently suspended until April 4, but further delays are virtually inevitable at this stage.Spurs are out of the Champions League as well as both domestic cup competitions.But the Lilywhites, sat eighth in the Premier League table, still have nine matches left to be played in the 2019/20 season.4Lucas Moura bursts into tears as Tottenham are dumped out of Champions League by RB Leipziglast_img

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