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Tottenham borrow £175m to cover costs incurred due to pandemic

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Tottenham Hotspur's English chairman Daniel Levy attends the English Premier League football match between Manchester City and Tottenham Hotspur at the Etihad Stadium in Manchester, north west England, on April 20, 2019. (Photo by Oli SCARFF / AFP) / RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 120 images. An additional 40 images may be used in extra time. No video emulation. Social media in-match use limited to 120 images. An additional 40 images may be used in extra time. No use in betting publications, games or single club/league/player publications. / (Photo credit should read OLI SCARFF/AFP via Getty Images)

English Premier League side Tottenham have borrowed £175m from the Bank of England to help ease some of the financial pressure the club is currently facing due to the COVID-19 pandemic.

The pandemic is set to see the club lose out on £200m of revenue up to June 2021, with no matches at their new stadium and a host of other sporting and non-sporting live events lined up for this year have now cancelled.

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Speaking about the issue Spurs chairman Daniel Levy said:

“I said as early as March 18 that, in all my 20 years at the club, there have been many hurdles along the way but none of this magnitude – the COVID-19 pandemic has shown itself to be the most serious of them all.”

“It is imperative that we now all work together – scientists, technologists, the Government and the live events sector – to find a safe way to bring spectators back to sport and entertainment venues.” He further stated

READ ALSO: KP Boateng says more should be done about Racism

Following the Premier League’s decision to suspend the league due to the pandemic, Levy admitted that the coronavirus outbreak constituted the largest problem he has had to face during his tenure at Tottenham.

By Leroy Hawkson | Head of Sports

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