Coronavirus: Tottenham chairman Daniel Levy says pandemic is his biggest challenge
Spurs record £80m profit in revenue on 2017-18 campaign in 2018-19 financial results
Wednesday 18 March 2020 14:27, UK
Tottenham chairman Daniel Levy says the coronavirus pandemic represents the biggest challenge of his 20-year tenure and has vowed to ensure the outbreak does not "undermine the future stability of the club".
The club announced on Wednesday their financial results for 2018-19, when Spurs recorded £460m in revenue - £80m on the previous campaign.
Nearly a quarter of that income was a result of their run to the Champions League final, highlighting the significance for Jose Mourinho of securing qualification for Europe's top-tier club competition when the season resumes.
Tottenham's move into their new stadium also helped revenue increase, with a £27m jump in corporate and hospitality income.
However, overall profits were down almost £45m on 2018's figure of £113m, to £68.6m.
"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," Levy said in a club statement.
"We are, however, legally required to announce these by 31 March 2020.
"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 well-being of our staff, players, partners, supporters and their families.
"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."
