Home » Spurs’ Debts Soar To Well Over £1billion, But It’s Not All Bad News

Spurs’ Debts Soar To Well Over £1billion, But It’s Not All Bad News

By The Boy -

In recent months, the economic forecast at Tottenham went from a carefully structured long term strategy based, upon prudence – to looking like chimpanzees had been throwing assorted cream cakes and pastries around in the club’s accounts office.

Recently we presented to you a snapshot of the club’s financials based upon a piece by William Pugh and Alex Miller for The Sun.

  • Tottenham’s total debt up to £852million
  • £215million of the bill is composed of interest
  • Some debts will still be outstanding until 2050
  • Repayments will average £37m-a-year until 2042
  • Over the last 5 years, only £21m-a-season was spent on transfers

The COVID-19 situation was almost unpredictable. The odds of a global pandemic were remote, and in the UK only Wimbledon took out the appropriate insurance, and so it would be unreasonable to chide Levy for not being fully prepared, although the Lawn Tennis Association only paid £1.5million per year in premiums… which looks like loose change in the mix when looking at the numbers above.

The Athletic no reveal that THFC has now added to the black hole, to the tune of further £175million.

OPINION

I have made my views on ENIC crystal clear, on footballing terms, they are not a force for good. The reality is that they are here to stay; however, it will not surprise you to learn that is not what I’m framing as the good news. The good news is that Levy has created a business with an elite level of credit rating which is based upon complex criteria. Without this facility, THFC would be heading toward a colossal amount of trouble in the very short term.

Secondly, our transfer market activity is likely to be modest and all eyes will be upon existing personnel. For all the wiped tears over Pochettino’s departure, we could not wish for a more experienced coach at the club.

The remainder of this season will be without any meaningful match day revenue. A situation that has no guarantee of righting itself until a proven vaccine is found.

If I had to pick a chairman and a coaching crew to get us through this dreadful storm, then remarkably, it would be our current ones.

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ministers cat
ministers cat
3 years ago

I can’t believe you have written that last paragraph H

it will be interesting to see how Mourinho performs with no money to spend and big gaps to plug at the back.

DannyG
DannyG
3 years ago

I think we have to be prepared for no crowds until a vaccine is here and this could be the entire next season. If we’re going to continue to operate as normal, we’ll need to fund it from somewhere. Either Lewis foots the bill, we borrow more or we sell our best players (at knockdown prices) to raise the cash. Those are the options.

I have totally given up the hope the Lewis will ever put his hand in his pocket, so out of the other 2 options, I’m glad we took the government money.

Russaldinho
Russaldinho
3 years ago

Good that we are in the fortunate (!) position to be able to take advantage of this scheme and there is no shame in doing so however the amount is quite staggering – I am concerned as to what might have been agreed as a part of this arrangement linked to transfers and other expenditure and if that would limit us (more so that usual). Can you imagine the shit storm if we start buying players, big contract renewals etc if we have not paid the money back???

Tappaspur
Tappaspur
3 years ago

When things get back to normal (big “when) the money will start pouring in again. We can weather this storm. We are TOTTENHAM.

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