Finance expert tips Spurs to ‘bounce back’ after taking £92.6m economic hit

0
Daniel Levy
Jon Bromley/ MI News/NurPhoto via Getty Images

Finance guru Kieran Maguire has backed Tottenham to recover strongly after it was revealed the club lost out on £92.6 million from match-day revenue. 

Spurs recently revealed their financial results in the 12 months ending at June 2021, with the club posting a pre-tax loss of £80.2 million. 

Most of the loss can be attributed to the onset of the Covid-19 pandemic, which caused a shutdown of football as well as the absence of fans on match-days throughout lengthy spells of 2020. 

Spurs’ financial report showed the club only pocketed £1.9 million from match-days in 2020/21 – a dramatic drop from the £94.5 million received in the prior financial year. 

However, Maguire believes Spurs are in a prime position to bounce back and recover the lost revenue, with the 62,850 capacity Tottenham Hotspur Stadium now fully open and ready to be put through its paces.   

Speaking to Football Insider, Maguire said: “They do have the NFL and concerts booked for next summer. 

“From a financial point of view, they are as well insulated as they could have been given they have spent all that money on the new stadium.

“They have been hit worse because pre-pandemic they had the biggest proportion of their income from match-day in the Premier League.

“On a relative basis, they were hit quite badly. They make big money from catering sales alone, huge compared to other teams in the league.

“That’s indicative of a club that is set up to do well in terms of the match-day experience.

“They are now in a period to bounce back because of the sensible business approach they have employed for a long time.”

Spurs Web Opinion 

The pandemic massively affected clubs across the world, especially Spurs given their model of being self-sufficient. But with the stadium fully open and fans able to come at a capacity – for now – this is the time for Spurs to claw back everything that they missed out on last year. 

Have something to tell us about this article?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.