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New Stadium Details And Discussions

bradfordspur

Well-Known Member
Dec 6, 2006
1,259
1,649
Had a Stadium Tour booked for end of March. Email today advising all tours cancelled with an option to book later in the year or take a refund.

Not really surprised, but another financial impact.
 

thebenjamin

Well-Known Member
Jul 1, 2008
12,164
38,545
I hope DL has found some understanding bankers, because our repayments could be a real issue. Forget about any events at the stadium for the rest of this year at an absolute minimum. Probably until next summer if all goes 'well'.
 

topper

Well-Known Member
Jan 27, 2008
3,806
16,254
I hope DL has found some understanding bankers, because our repayments could be a real issue. Forget about any events at the stadium for the rest of this year at an absolute minimum. Probably until next summer if all goes 'well'.
Yep, was thinking the same with cash flow severely crippled for the foreseeable future
 

vegassd

The ghost of Johnny Cash
Aug 5, 2006
3,356
3,330
Would this giant shortfall be covered by insurance? Anyone know?
I doubt anyone in the world knows, and I doubt that most organisations have insurance enough to fully cover something like a pandemic.

Before worrying about Spurs repaying a stadium I would worry about your own mortgage repayments if your employer has to cease business for a period of months without being able to pay salaries.

If the virus turns out to be a flash in the pan then life will probably bumble on as usual, but if countries have to take strict measures like curfews and shutdowns then financial companies are going to have to come up with ways to soften the economic impact across all sectors. That will include domestic mortgages and commercial loans.

There are 2 saving graces in this; first that the virus will affect everybody pretty much the same (economically speaking) so industries and governments will be pulling the same direction to save economies, and secondly our club is run in a pretty sound financial way so we are at least working from a point of financial stability.
 

topper

Well-Known Member
Jan 27, 2008
3,806
16,254
Would this giant shortfall be covered by insurance? Anyone know?
If we purchased event cancellation insurance then possible but would probably need a official edict from HMG rather than an ‘advice to’ guidance. As for Business Interruption, not so sure as to whether the policy covers this type of scenario?
 

spursfan77

Well-Known Member
Aug 13, 2005
46,680
104,956
Probably goodbye for the hotel, extreme sports complex and residential blocks for a long time if ever.

Not sure about that. The government will be wanting private developments to happen to stimulate the economy. If anything levy will probably use the position to get funding from the government to try and make it happen.
 

coys200

Well-Known Member
May 22, 2017
8,436
17,403
Pretty crucial we somehow get CL football for next season if that ever happens. Roughly calculated we could be looking at a £150m hole otherwise. Even stuff like pre season tour is £10m. Shop tours all the daily conferences cancelled ?
 

SirHarryHotspur

Well-Known Member
Aug 9, 2017
5,002
7,417
If we purchased event cancellation insurance then possible but would probably need a official edict from HMG rather than an ‘advice to’ guidance. As for Business Interruption, not so sure as to whether the policy covers this type of scenario?

This is on BBC site ..

But the Association of British Insurers claims most companies would not be covered anyway, even if there were to be a dictat from Downing Street.

In a statement, the organisation says: "Standard business interruption cover - the type the majority of businesses purchase - does not include forced closure by authorities as it is intended to respond to physical damage at the property which results in the business being unable to continue to trade.

"A small minority of typically larger firms might have purchased an extension to their cover for closure due to any infectious disease. In this instance, an enforced closure could help them make the claim.

"But this will depend on the precise nature of the cover they have purchased, so they should check with their insurer or broker to see if they are covered."
 

Yid121

Well-Known Member
Aug 9, 2008
3,463
3,139
I wonder if the club might take a punt on this? Not sure they’ll be many investors in for it.

5.1% for an office building in Tottenham with 8 years remaining!?! Redevelopment is the only way that is stacking up if the permission is anything to go by. Won't make much commercial sense for THFC I don't think though with that upfront + redev cost. Not cheap! But then again compared to the Ndombele fee it looks peanuts
 
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