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LEGO Boy said:
Arrghh paywall. Can someone post that Torygraph article here in full please? Always love to read their demise
Click to expand...
disable javascript in your adblocker you can read telegraph without paywall, they are not very smart over there with technology


"
In the words of Daniel Levy, the coronavirus pandemic “could not have come at a worse time” for Tottenham Hotspur. For different reasons, the same can also be said for Woolwich.
These great rivals are on different paths, with markedly different strategies on the pitch, but ahead of this weekend’s match they share a common problem: money. Between them, Tottenham and Woolwich lost a combined £111.7 million last year.
For Tottenham, the pandemic struck at the very moment they were beginning to reap the financial rewards of their new stadium. For Woolwich, it was a dreadful blow at a time when finances were already under significant strain due to their ongoing failure to qualify for the Champions League.
More troubling still is the fact that these financial figures will only get worse in the near future. Levy, the Tottenham chairman, warned last year of an “irrecoverable loss of income” of more than £150m if their stadium remained closed to supporters for the rest of the season.
Woolwich’s latest accounts, meanwhile, would have made for even more grim reading if it were not for the £60m they generated through player sales in the summer of 2019.
Last summer they brought in just £20m, meaning they are taking a £40m financial hit this year even before they consider the impact of a full campaign without supporters.
The reality of the situation facing the two clubs can be seen in the fact that they both turned to the Bank of England for short-term loans. Tottenham secured a £175m loan in June, before Woolwich borrowed £120m in January.
For many of Woolwich’s employees, the situation has been disastrous: 55 redundancies have been announced, and the internal streamlining process continues.
Tottenham have powered clear of Woolwich in all main revenue metrics
The need to qualify for Europe, and especially the Champions League, could therefore hardly be more pressing for both sides. Already it seems a near-impossible task for Woolwich, who started the weekend 12 points off the top four and must now pursue the Europa League trophy with all of their might.
At Woolwich, the belief is that they “belong” in the Champions League. The truth is that the longer they are out of it, the harder it will be for them to get back in. This is their fourth consecutive season outside of Europe’s primary competition and their absence has led to a dramatic shift in financial power in north London.
As detailed by financial analyst Swiss Ramble this week, the latest accounts for both clubs show that Tottenham have now powered ahead of Woolwich in matchday, broadcast and commercial revenue streams.
Woolwich have posted back-to-back losses, having enjoyed profitable seasons in the previous 16 years, and their hefty wage bill remains a considerable problem — even with Mesut Ozil now out of the picture.
“What is interesting is that Tottenham’s commercial income is now exceeding Woolwich’s,” says Kieran Maguire, a football finance expert at the University of Liverpool.
“That never used to be the case, and you have to give Levy a lot of credit for that. Tottenham have an advantage in generating income and they have a second advantage in having a lower cost base in terms of wages.”
The balance sheets laid bare: Spurs and Woolwich's overall revenue trend
For Tottenham, the primary financial problem of the pandemic was that it represented an enormous missed opportunity. They have been unable to use their new stadium as intended, both for their own matches and for the numerous third-party events that were planned.
“Theirs was a setback because the new stadium is a very effective vehicle for generating revenue,” says Maguire. In time, though, when the world opens up again and the fans return, they should theoretically be on steady footing again as a business.
It is not quite so simple for Woolwich who, in trying to recalibrate the club in order to cope with life outside the Champions League, are falling further behind the rest of the ‘Big Six’.
Maguire says it is worth considering whether the ‘Big Six’ is set to become the ‘Big Five’. The revenue figures certainly make for uncomfortable reading for Woolwich. The latest Deloitte Football Money League shows Woolwich’s revenues were more than £100m lower than those posted by Manchester City, Liverpool and Manchester United. Chelsea were more than £70m ahead.
Woolwich need the Champions League more than ever, and even more desperately than Tottenham. For them to remain at the top table, and for them to still compete with their north London rivals, Mikel Arteta must create a team that is capable of punching well above its financial weight."
 
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https://www.football365.com/news/mailbox-north-london-derby-Woolwich-spurs-liverpool-everton

These fucking nutsacks and their constant moaning about Kane "endangering his fellow professionals" by using his body when challenging for a ball...

Go watch tennis if you can't handle watching a contact sport you whimpering little TWATS.
 
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