Tottenham has borrowed from the Bank of England £175 million to help ease the financial impact of the coronavirus pandemic.
Spurs estimates they will lose £200 m in the period up to June 2021 as a result of being unable to host matches with fans attending their new stadium.
Many sporting and cultural activities that were due to be held at the venue have been postponed as well as their games being affected.
Many sporting and cultural activities that were due to be held at the venue have been postponed as well as their games being affected.
Two NFL fixtures, Anthony Joshua’s world heavyweight championship boxing match against Kubrat Pulev and a Lady Gaga concert were among the canceled occasions at Tottenham Hotspur Stadium.
Spurs also have a rebate to be paid to broadcasters after three months without any action from the Premier League. The £175 m in funding was borrowed through a COVID Corporate Financing Facility for which Tottenham was eligible. It’s repayable at a 0.5 percent interest rate.
Boss Jose Mourinho said earlier that Tottenham is “not going to waste money rivers” on transfers and that such funds are not going to be used to sign new players, but instead to provide financial stability.
In April, Tottenham reversed their decision to use the furlough system of the government amid a fan uproar.
Spurs originally intended to use the scheme for 550 non-playing employees during the Covid-19 crisis, however after the decision was overturned, Spurs decided that all workers affected would receive full pay in April and May, with only members of the board – including Levy – taking monetary cuts.
