Corona Impact, Tottenham Borrows Rp 3.5 Trillion to the Bank

DBasia.news – One of the Elite Premiere League clubs, Tottenham Hotspur had to incur huge losses due to the corona virus pandemic. Jose Mourinho’s squad even had to apply for large loans to local banks.

Reporting from Sky Sports, Tottenham Hotspur is estimated to have suffered a loss of 200 million pounds (around Rp. 3.52 trillion). To alleviate financial problems, management has applied for a loan of 175 million pounds (around Rp3.08 trillion) from the Bank of England.

Spurs have met the requirements of the COVID Corporate Financing Facility (CCFF) to obtain loans with low interest rates, amounting to 0.5 percent.

The loss felt by The Lilywhites is the impact of the corona virus pandemic. Jose Mourinho’s troops must continue to suffer losses until June 2021 as the Premiere League will be held without spectators.

Meanwhile, the club also can not receive revenue from their new stadium which is usually used for non-sporting activities.

“We always run this club on a commercially independent basis. Like I said on March 18, for 20 years at this club, there were many obstacles along the way. But there were no obstacles this big, the corona virus pandemic is the most serious of all,” Daniel Levy said as CEO of Tottenham Hotspur.

“Now it is very important for everyone to work together. Scientists, the government and the live events sector must find a safe way to bring the audience back to watch sports and entertainment events,” he continued.

To save the club’s financial collapse, Tottenham had to make a pay cut of as much as 20 percent to 550 staff. The decision has invited criticism from supporters. As a result in April, Tottenham had revised their decision and promised to pay the full April and May salaries for staff outside of coaching.