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The Fight for Europa

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Our slim chance of getting top 5 is gone.
The likelihood of 5th being enough in the first place for Champions League is questionable.
And then the likelihood of the Champions League going ahead as normal with the same cash is even less.

Where does that leave Spurs?

The Champions League money was the only thing that could have saved our current financial crisis.
There will be no signings in the summer.
There will be no mythical "rebuild".
We can even afford to take on Gedson Fernandes' agreed transfer fee.
 
Modric THFC said:
Our slim chance of getting top 5 is gone.
The likelihood of 5th being enough in the first place for Champions League is questionable.
And then the likelihood of the Champions League going ahead as normal with the same cash is even less.

Where does that leave Spurs?

The Champions League money was the only thing that could have saved our current financial crisis.
There will be no signings in the summer.
There will be no mythical "rebuild".
We can even afford to take on Gedson Fernandes' agreed transfer fee.
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Have I missed something?
 
Finney Is Back said:
Dont get what you mean by that mate?
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The loan from the government has been taking out by the stadium business, not Tottenham hotspur football and Atletico Co, Tottenham Hotspur Limited or Tottenham Hotspur Football Club Holdings
So basically the company that took the loan is the company that owns the ground, in effect ring fencing that loan for that
The playing side of the club is another corona, and it’s all part of a holding company.
You can loan and transfer money internally but you can’t loan and loan internally
 
Finney Is Back said:
Did you miss the recent additional £175m loan taking our debt above £800 million?
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Nope.
We took out a loan which we are paying back in line with terms, just like we are meeting all our covenants.
It naive to think that loan / debt = “financial crisis”.
 
Aldo said:
Nope.
We took out a loan which we are paying back in line with terms, just like we are meeting all our covenants.
It naive to think that loan / debt = “financial crisis”.
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The new loan has to be paid back next June but it’s at 0.5% interest over that duration and it’s purely for ground related costs
 
Bedfordspurs said:
The new loan has to be paid back next June but it’s at 0.5% interest over that duration and it’s purely for ground related costs
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Not really - its for opex.

The comment about 'our debt going up by £175m' as a result of taking that facility out is technically correct, but the reality is you need to look at net debt. Our debt has indeed gone up by £175m but so has our cash, so net debt change is zero. Our net debt only goes up by £175m if we spend that £175m

My guess is htat we took the facility out as a precaution and to reduce our interest costs - if we pay 0.5% on that piece and can reduce any short-term working cap type facility for the period which we have access to this £175m loan, then we will save money
 
AdamB said:
Not really - its for opex.

The comment about 'our debt going up by £175m' as a result of taking that facility out is technically correct, but the reality is you need to look at net debt. Our debt has indeed gone up by £175m but so has our cash, so net debt change is zero. Our net debt only goes up by £175m if we spend that £175m

My guess is htat we took the facility out as a precaution and to reduce our interest costs - if we pay 0.5% on that piece and can reduce any short-term working cap type facility for the period which we have access to this £175m loan, then we will save money
Click to expand...
But the loan is opex for the ground and it’s running of, not for the football side
I’ve read some articles on it from finance entities through work and also on LinkedIn through some trusted people
 
Bedfordspurs said:
But the loan is opex for the ground and it’s running of, not for the football side
I’ve read some articles on it from finance entities through work and also on LinkedIn through some trusted people
Click to expand...

Thats not right. Its via the government's COVID Corporate Financing Facility (CCFF) and is to offset lost revenues from last of matchdays. Announcement and the details form the BoE website below. We cant use it to buy players and there are general restrictions on paying dividends etc but thats about it

https://www.tottenhamhotspur.com/ne...-the-covid-corporate-financing-facility-ccff/

https://www.bankofengland.co.uk/markets/covid-corporate-financing-facility
 
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