Reports over the past few weeks have indicated that Tottenham are unlikely to have much money to spend on signings this summer (Telegraph).
Spurs are expected to be one of the worst-hit top-flight clubs by the COVID-19 crisis due to the substantial debt they owe on the Tottenham Hotspur Stadium (The Sun) and are said to be looking to prioritise loan signings and free transfer this summer.
However, there was some hope that recent developments would give the Lilywhites the ability to splash some cash when the transfer market opens.
Sky have agreed to defer payment of a rebate worth more than £170million by a further year, and it has been revealed that this was expected to boost Tottenham’s transfer kitty (The Athletic).
Additionally, Spurs were also able to acquire a £175million loan from the Bank of England to aid them during the crisis (BBC Sport).
However, Football.London’s Alasdair Gold has made it clear that the loan will not make a difference to the North Londoners’ transfer budget.
When asked for the main rationale for the loan in a Q and A, he said: “Spurs are estimating a revenue loss of more than £200m for the period to June 2021.
“Unfortunately that profitability has gone out the window this year. They also spent almost £200m all in on transfers last season.
“The club need money and quickly. Also worth noting that they made it clear that the £175m will not be used on signing players.”
The journalist also suggested that the funds being handed to Mourinho in the summer will depend on whether or not the Lilywhites manage to qualify for the Champions League.
Gold added: “Much depends on who goes out the door. Funds for new signings will be dictated by player sales and also if Spurs can get back into the Champions League somehow through these remaining nine matches.
“You’ll see swap deals, free transfers and moves for players with just a year left on their deals. Anything bigger will take decent money coming in.”
Spurs Web Opinion
There would be ethical concerns raised about the club using the loan obtained from BoE to buy players. However, the loan does give the club a little bit of leeway in terms of their finances.
Daniel Levy is not a risk-taker and I would expect him to play it safe in the transfer market. I cannot see us spending much money on signings before there are signs that we are moving out of this crisis.
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