LONDON: Tottenham announced pre-tax losses of £80.2 million ($107.7 million) for the financial year ending June 2021 on Tuesday with the club’s total debts a rising £100m to £706m.
Spurs have counted the cost of the coronavirus pandemic more than most as it struck shortly after the club opened a new 63,000 capacity stadium at a cost of £1.2 billion.
Due to games being played behind closed doors during lockdown, match receipts were down to £1.9m compared to £94.5m in 2020.
“The financial results published for our year ended 30 June, 2021, reflect the challenging period of the pandemic and the incredibly damaging timing of COVID-19 coinciding, as it did, with the opening of our stadium in April, 2019,” said Tottenham chairman Daniel Levy.
“With no less than three lockdowns our operations were severely disrupted, albeit this was secondary to the impact everyone felt in their personal and family lives.”
Tottenham’s overall revenue was down to £361.9m from £402.4m despite an increase in money generated from broadcasting rights.
Despite the losses, new manager Antonio Conte is expected to be handed funds in January to strengthen his squad as Spurs aim to get back into the Champions League.
The Italian was recruited by his former colleague at Juventus, Fabio Paratici, who was appointed Tottenham’s managing director of football in June.
“The appointments of Fabio and Antonio are a clear demonstration of our intent and ambition,” added Levy.
“Since opening the stadium in April, 2019, we have spent almost £400m on players. Player spending is no guarantee of success, and our focus must be on improved recruitment, coaching, fitness and a competitive mindset.”
Spurs sit seventh in the Premier League, four points adrift of the top four.
Closed door season costs Tottenham £80m loss
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Closed door season costs Tottenham £80m loss
- Due to games being played behind closed doors during lockdown, match receipts were down to £1.9m compared to £94.5m in 2020
- Tottenham's overall revenue was down to £361.9m from £402.4m despite an increase in money generated from broadcasting rights
Inter continue Scudetto march after Champions League humbling
- Milan will be favorites to win at Cremonese in Sunday’s early fixture, with the local rivals set to face off next weekend in a match which will in all likelihood have little impact on the destination of the Scudetto
MILAN, Italy: Inter Milan bounced back from Champions League elimination with Saturday’s 2-0 win over Genoa which continued their march toward the Serie A title.
Federico Dimarco’s brilliant volley just after the half-hour mark and Hakan Calhanoglu’s second-half penalty were enough for Inter to extend their already huge lead over AC Milan at the top of the table to 13 points.
Milan will be favorites to win at Cremonese in Sunday’s early fixture, with the local rivals set to face off next weekend in a match which will in all likelihood have little impact on the destination of the Scudetto.
Inter, whose fans unloaded a collection of anti-Milan chants in anticipation of the derby, have dropped just two points in 15 league matches and have been a cut above the rest in Italy’s top flight this season.
Their domestic dominance comes in stark contrast to the humiliating manner in which they were dumped out of the Champions League by Bodo/Glimt on Tuesday night.
A 5-2 aggregate defeat to the Norwegian minnows cast doubts over not just the quality of Cristian Chivu’s team but of Italian football as a whole.
There was plenty of quality in Dimarco’s opener however, the Italy full-back beautifully placing a first-time finish from a tight angle after exchanging passes with Henrikh Mkhitaryan.
Little else happened in a humdrum encounter until Alex Amorim handled a cross from Luis Henrique, whose shot had been tipped onto the post just moments before.
Calhanoglu calmly stroked home the spot-kick on his return to action following niggling muscle problems which have caused him issues since before Christmas, sealing the points for Inter.
Big Rom back
Romelu Lukaku kept Napoli on course for a Champions League spot with a last-gasp winner in the champions’ 2-1 victory over rock-bottom Verona, the Belgium forward’s first goal of the season.
Lukaku forced home Giovane’s cross to snatch the win for third-placed Napoli with the last kick of the game at the Stadio Marcantonio Bentegodi.
Napoli had looked like dropping points in northern Italy when Jean-Daniel Akpa Akpro levelled Rasmus Hojlund’s early opener in the 65th minute.
But Lukaku, who only played his first game of the season in late January, gave Napoli a huge win with both Como and Atalanta pushing for a top-four placing.
“I was a dead player before coming here,” said Lukaku to DAZN.
“This season has been difficult, but we’ve got to aim high.”
Napoli’s title defense is all but over as they trail Inter by 14 points after an injury-ravaged season.
Napoli were missing key midfielders Scott McTominay, Kevin De Bruyne and Andre-Frank Anguissa on Saturday, as well as captain Giovanni Di Lorenzo.
Verona, under interim coach Paolo Sammarco following the sacking of Paolo Zanetti earlier this month, are 10 points from safety after a 12th straight match without a win.
Como, who face Inter in the first leg of the Italian Cup semifinals on Tuesday, strolled to 3-1 victory over strugglers Lecce to continue their push for a first-ever qualification for European football.
Cesc Fabregas’s team are two points behind Roma, in fourth and Juventus’ opponents on Sunday, and five behind Napoli.
Como are also two points ahead of sixth-placed Juve who face Roma trying to stay in touch with the Champions League places after being eliminated from Europe’s elite club competition by Galatasaray on Wednesday.
