£175m Loan from the Bank of England

Cymru7228060

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With the coronavirus leaving us 175m out of pocket, an 800m stadium bill, no stadium sponsor, only getting 15m for Eriksen and an ageing squad we are in for a tough few years. There is no money to attract decent players so its hard to make a case for Spurs to finish inside the top 6 in the next few years. I expect us to drop to mid table next year. Disappointed the players havent taken a salary cut given that Juventus, Barcelona players did when their club is not in a financially weak footing.
 

Locotoro

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With the coronavirus leaving us 175m out of pocket, an 800m stadium bill, no stadium sponsor, only getting 15m for Eriksen and an ageing squad we are in for a tough few years. There is no money to attract decent players so its hard to make a case for Spurs to finish inside the top 6 in the next few years. I expect us to drop to mid table next year. Disappointed the players havent taken a salary cut given that Juventus, Barcelona players did when their club is not in a financially weak footing.
We've replaced the 200m loss with a 175m loan at a very low commercial rate. So technically we could still be in the market this summer to make a decent purchase or two to help us make the leap ahead of our rivals. But it's imperative that we qualify for UCL so we can attract those players we want
 

Cymru7228060

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Eriksen was worth 80m last summer so 15m isnt good business at all. Everton, Newcastle very shortly have very rich owners who we wont be able to compete with in the transfer market. We had one of the oldest first teams in the prem this season. Hope you are right but your asking us to stay in the same position despite crippling debt and no quality new players. Reality check time I think.
 

Cymru7228060

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We've replaced the 200m loss with a 175m loan at a very low commercial rate. So technically we could still be in the market this summer to make a decent purchase or two to help us make the leap ahead of our rivals. But it's imperative that we qualify for UCL so we can attract those players we want
The loan isnt for buying players it is to cover stadium debt and player wages over the next year. The loan would only replace the loss of 175 if it was a grant. We have to pay it back. Levy would not have taken out another loan if he wasnt desperate. I guarantee we will not bring in any top player this summer unless its a free.
 

bubble07

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Ok but if we canr afford it then modt other clubs cant either so let's wait and see
 

Dirtysanchez6

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The loan can’t be used directly for transfers but what it can do is be used on things wages stadium costs etc instead of taking money from our transfer pot to cover them! Effectively it could mean we still have the transfer pot we were going to because we don’t have to pull that money! Time will tell I suppose it is levy after all prob be spend what we sell
 

Timberwolf

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Eriksen was worth 80m last summer so 15m isnt good business at all. Everton, Newcastle very shortly have very rich owners who we wont be able to compete with in the transfer market. We had one of the oldest first teams in the prem this season. Hope you are right but your asking us to stay in the same position despite crippling debt and no quality new players. Reality check time I think.
Quite the optimist.

It's fair to say we're a bit fucked but your outlook is especially bleak. On the contrary you could argue:

- Almost all other clubs are equally fucked and at least we'll now have the infrastructure to recoup more money in the long term once the lockdown ends through concerts, events etc.

- According to this article at the start of the season we had the 5th youngest squad and have since signed 2 youngsters in Bergwijn and Fernandes and will be losing old man Jan. Sure there are some holes in the squad but it's a long way from being old. In fact the vast majority of our best/most promising players are between 20-27 which is great. The only real concern age-wise is our CBs.

https://www.101greatgoals.com/news/average-age-of-premier-league-squads-arsenal-youngest-liverpool-oldest-of-top-6/

- Mourinho will have had more time to implement his ideas. Maybe this will lead to improvements, especially with a fit Kane, Lo Celso, Son and Bergwijn in the same team. Perhaps even (fingers crossed) a non-fat Ndombele.

- The Eriksen deal was out of our control. No-one was offering anything close to 80m and he was obviously aiming to wind down his contract so to get anything for him at all has to be seen as a win. Certainly better than losing him on a free anyway.

I mean, maybe you're right and we'll drop to mid table, but fuck me you're practically slitting your wrists already and dancing in the blood.
 
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popstar7

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Eriksen was worth 80m last summer
He plainly wasn't because we'd have bitten off anyone's arm if we'd been offered that. Or even half that. Nobody did.

We're not crippled with debt. We converted £525 million of stadium debt into bonds which come due between 15 and 30 years from now, for around 2.5% interest.

We made £138 million profit in 2018 (PL record) and £87 million in 2019 (twice as much as any other PL club). Half the clubs in the PL lost money last year.

We have plenty of challenges and dropping out of the CL would be a major blow. But we're not in financial difficulty. Far from it.
 

Shadydan

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Eriksen was worth 80m last summer so 15m isnt good business at all. Everton, Newcastle very shortly have very rich owners who we wont be able to compete with in the transfer market. We had one of the oldest first teams in the prem this season. Hope you are right but your asking us to stay in the same position despite crippling debt and no quality new players. Reality check time I think.
In what world was that?
 

Archibald&Crooks

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There is no money to attract decent players
We were hardly attracting many when there was money. Now get back to TFC and moan about us.

But it's imperative that we qualify for UCL so we can attract those players we want
See above, same principle. We were hardly attracting many when we did have CL.

But we're not in financial difficulty. Far from it.
I agree.

Turn the clock back, people were prostrating themselves at Our Dear Leaders feet because we weren't doing a Leeds and the grass wasn't greener, all that shit. Look at how well we're run, we're doing it the right way, we don't want to do it by being financially doped, yatta yatta yatta......Now suddenly we're supposedly financially fucked. Just like that*

*Does a Tommy Cooper

What was it all for then? If the financial prudence hasn't made us at least a lot more stable and given us the ability to ride this out better than most what was the fucking point of it all. What? Lining ENIC's pockets? I wouldn't be so cynical as to suggest that, it'd upset too many people.
 
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dtxspurs

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We were hardly attracting many when there was money. Now get back to TFC and moan about us.


See above, same principle. We were hardly attracting many when we did have CL.
I mean when we would actually pay for them we attracted some massive talents in Sanchez, Ndombele & Lo Celso. Dybala possibly as well who knows how close that was or wasn't. Poch could recruit them to join when he was given the cash.
 

Archibald&Crooks

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I mean when we would actually pay for them we attracted some massive talents in Sanchez, Ndombele & Lo Celso. Dybala possibly as well who knows how close that was or wasn't. Poch could recruit them to join when he was given the cash.
Definitely. But are we now getting into the realms of why the squad was allowed to stagnate, decline or whatever words we want to use to describe it. Having CL doesn't seem to have done us much good on the recruitment front but even then, take all the gripes and blame out of it, United, Liverpool, Chelsea, they've all had seasons out of the CL and managed to attract players. I guess having CL might not be as important as we seem to think. At the end of the day, CL or not, if you don't pony up, you ain't signing no players.

So have we (or did we) hit our ceiling? Was that as good as it gets?

Or should expectations be adjusted accordingly, the way football is going or has been going, there's no real established 'big 4' any more who qualify for the CL year in, year out. Now, when it comes to CL qualification we're at least part of the conversation, there's no given right to qualify year on year any more, did we improve enough to help break that or did the footballing landscape change enough to bring those clubs backwards a bit? Probably bit of each?

Perhaps how it's going to be is that we'll qualify some years, other we won't, like other clubs. We just have to take our licks.

Perhaps that's how it is now and we have to be a bit more pragmatic. I dunno.
 

luptic

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When you consider the monies that the club has lost out on, its about acquiring an operating loan for those loses to be absorbed on future activities, to enable it to meet its running costs
Spurs will be more prudent this summer, given the uncertainty of football and revenues for next season.
Many clubs will be in the same boat, but i cant see how Chelsea can get away with spending what they have been linked with.
I cant see how football can continue to spending obscene coin in the current environment?
And by the way Eriksen was only worth what clubs were willing to pay, and that was £15m for 6mths left, which was excellent given what happened.
 
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spursfan77

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We've replaced the 200m loss with a 175m loan at a very low commercial rate. So technically we could still be in the market this summer to make a decent purchase or two to help us make the leap ahead of our rivals. But it's imperative that we qualify for UCL so we can attract those players we want
If we don’t and Mourinho looks across London and sees Chelsea making these considerable signings, he’s going to start to get pretty pissed. I’m expecting the fireworks to start unless purchases of some description happen.

Note how this loan has been reported though. Man U get one and it’s reported, with no evidence, they will spend it on players. Presumably so the papers can then peddle lots of transfer stories down the road. With us, it’s to perpetuate a negative financial situation.

We’ll be ok. I bet we have a normal summer transfer window (somewhere between 2018 and 2019).
 
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coy-spurs1882

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When you consider the monies that the club has lost out on, its about acquiring an operating loan for those loses to be absorbed on future activities, to enable it to meet its running costs
Spurs will be more prudent this summer, given the uncertainty of football and revenues for next season.
Many clubs will be in the same boat, but i cant see how Chelsea can get away with spending what they have been linked with.
I cant see how football can continue to spending obscene coin in the current environment?
And by the way Eriksen was only worth what clubs were willing to pay, and that was £15m for 6mths left, which was excellent given what happened.
why not? the owners have the money and they are willing to splash it
 

luptic

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why not? the owners have the money and they are willing to splash it
There aren't too many owners with reverses of cash floating about. Its built on finance and if match day revenue is contained in lowering of its gearing, then it will struggle to spend cash on transfer, especially when there is global recession on the horizon.
 

hellava_tough

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You would have thought we could borrow the money from Uncle Joe and pay him back over a couple of years at 0% interest.

I wonder if Levy is compelled to publically borrow money to ease the fears of investors (banks)?

Or perhaps it's just a dirt cheap loan available and Levy thinks he can make a few quid on it, even though you're probably not supposed to do that with this government scheme.

Not that it'll effect our transfer business, which has never reflected our position on the Deliotte clubs rich-list :LOL:
 

coys200

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As long as Covid is sorted by start of 2021 or worst start 21/22 we will be fine. You only have to look at stock markets to know this is viewed as a temporary “U” shaped recession and not something worse. The massive plus we have is the stadium gives us the ability to instantly bounce back as soon as things are back to normal. The non football revenue plus our huge hospitality figures are something other clubs simply don’t have. There’s a reason only us and United qualify for this loan, tbh that’s actually huge if you think about it. Will we spend huge this summer ? no, but if we are shrewd with 2 or 3 additions I think we will be fine and still top 6. No idea about us having aging squad that’s just nonsense of our 22 out field senior squad 19 are 27 or under. Only Alderweireld vertonghen Sissoko are 30+. Has this set the project back a couple of years probably yes. But as soon as things are back to normal we will bounce back instantly. Imo the £175m at 0.5% is a great deal and we’d have been crazy to overlook it. It means the club can navigate this period without having to do anything drastic like slash wages or sell star players. I’m completely relaxed about our situation now and glad we took the loan.
 
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You would have thought we could borrow the money from Uncle Joe and pay him back over a couple of years at 0% interest.

I wonder if Levy is compelled to publically borrow money to ease the fears of investors (banks)?

Or perhaps it's just a dirt cheap loan available and Levy thinks he can make a few quid on it, even though you're probably not supposed to do that with this government scheme.

Not that it'll effect our transfer business, which has never reflected our position on the Deliotte clubs rich-list :LOL:
Because if Levy asks Lewis to inject money into the club, he has to give up his share majority, and then Tavistock will own us, and not ENIC.
 
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