Translation Covid-19 has extremely heavy impact to the financing of football clubs in England. The team went through more than two months, "vegetarian" with the match is abandoned while still paying salaries to employees. Even when the ball rolled back into 17/6 days, the team will also lose a huge revenue from the sale of tickets for fans.
Tottenham have received considerable financial pressure
Tottenham, one of the six "giants" of English football, has announced that this team can lose more than 200 million pounds of revenue due to translation Covid-19. Therefore, the management team decided to borrow sums from £ 175 million the Bank of England to ease the financial pressure.
Last March, the UK Government has set up a fund to help finance businesses affected by the epidemic Covid-19. These regulations are very strict loan and must be repaid after one year at an interest rate of 0.5%.
This means that Tottenham will have to pay the 175 million pounds in January 6/2021. This is bad news for Jose Mourinho when the Portuguese teacher will likely have little budget in the upcoming transfer window.
According Tottenham chairman, Daniel Levy, this is what was anticipated. Last March, "rooster" is one of the Premier League team "legal risk" to use the grant program of the British Government.
Jose Mourinho will not have much budget for the upcoming transfer window
Accordingly, the club's 550 employees have been temporarily laid off and only 20% of the wage leader in the UK Government sponsored 80% of the wage of the unemployed due to translation Covid-19. However, Tottenham board to withdraw this decision by receiving too much criticism.
Remember, Tottenham achieve 69 million pounds profit in the previous season with a turnover of more than 460 million pounds. According to the assessment of the company ranked the world's leading financial, Deloitte, the "rooster" has the 8th richest club in the world.
The move to a new stadium to help this team grow revenue by increasing the number of seats as well as ancillary services. However, translation Covid-19 makes every activity stalled and Tottenham Hotspur stadium suddenly became the main burden of "rooster".