Tottenham chairman expects financial hardship across football.
Tottenham Hotspur chairman Daniel Levy has provided a bleak assessment of the challenges facing football at the moment.
Levy has suggested that big transfers in football are laughable amid the financial crisis, and it would be foolish to assume the market will not be affected this summer.
Writing in a statement on the club’s official website, Levy said his first thought is with victims of the pandemic, and businesses who may cease trading.
Levy says: “When I read or hear stories about player transfers this summer like nothing has happened, people need to wake up to the enormity of what is happening around us.
“With over 786,000 infected, nearly 38,000 deaths and large segments of the world in lockdown we need to realise that football cannot operate in a bubble.
“We maybe the eighth largest club in the world by revenue according to the Deloitte survey but all that historical data is totally irrelevant as this virus has no boundaries.”
Levy’s task is to try and steer Tottenham through this challenge. The club are planning to furlough non-playing staff onto the Government’s job retention scheme, with the Spurs chairman adding, “The club’s operations have effectively ceased.”
Spurs like all clubs will be worrying about their sponsors, large and small. It is fortunate Tottenham’s stadium is already complete, but this will have thrown a real spanner in the works of the club’s plans to continue to finance it.
As Levy notes, times are changing, and this could take a while to recover from if it goes on for another few months.
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