Olivia PowellTottenham Hotspur FC has obtained a £175m loan from the Bank of England to help support the club during the coronavirus crisis.
The club has estimated that it could lose £200m playing behind-closed-door matches at the 62,303-capacity stadium, with other scheduled events cancelled. However, it is eligible for a Covid Corporate Financing Facility, repayable with a 0.5% interest rate.
Chairman Daniel Levy said: “We have always run this club on a self-sustaining commercial basis.”
Guns N’ Roses, Lady Gaga and the Capital Summertime Ball concerts were all due to be held at the Tottenham Hotspurs stadium, in addition to Anthony Joshua’s world title fight with Kubrat Pulev.
A Rugby League Ashes Test in November and two NFL games in the autumn were also due to take place, however they too have been cancelled.
Spurs will also need to pay a rebate to broadcasters.
Levy added: “I said as early as 18 March 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.
“Collectively we have the ability to support the development of new technologies to make this possible and to once again experience the passion of fans at live events.”