Sky Sports will not demand the £371million they are owed by the EPL
According to the Daily Mail, Tottenham Hotspur have been dealt a financial boost by Sky Sports’ decision to not demand the £371million they are owed by the EPL.
The current lockdown has led to a dip in the club’s revenue streams. The financial situation of the club is said to be precarious when you also take into account the pending dues.
These dues are with respect to the repayment of the stadium and the transfer fee yet to be paid. We currently owe £637m on the stadium loan and £83m on transfer fees. (h/t Daily Mail)
With there being no certainty as to when the matches will resume, talks are currently ongoing between Sky and the Premier League to find an alternative way to make the most of any lost value in a worst-case scenario.
Although the preferred option among clubs and broadcasters is to restart the season and see it out, in the scenario that the Premier League remains incompleted, a staggering £762million in TV income would have to be repaid.
In welcome news for us, around half of that amount is now free of risk. An amount of £341million has to be repaid to overseas broadcasters. The report goes on to say that while some companies will demand the money back, many are willing to negotiate a settlement. (h/t Daily Mail)
In a worst-case scenario, the Premier League would only have to repay at most £150million. Although we will miss out on matchday revenue if the matches do take place behind closed doors, Sky’s decision will help us reduce the losses.
Internal strife?
With the financial situation at the top of his mind, Levy is keen to see the season through. He is said to have an offense at Harry Kane going public with his opinion on voiding the season. The Spurs star could leave the club in the summer window if a club is ready to meet his £200million valuation. (h/t Daily Mail)
More Tottenham Hotspur News
- Daniel Levy not keen on splashing the cash on Alex Grimaldo
- Tottenham fans react to links with Geoffrey Kondogbia
- Real Madrid willing to part with two stars to sign Harry Kane
It was announced earlier this month that Tottenham have placed the non-playing staff on furlough. In spite of public backlash from various quarters, the club is yet to change its decision. (h/t BBC)
