Tottenham Hotspur have repaid their £175million loan to the Bank of England last year which has allowed them to be in a position to confirm Heung-min Son’s new contract, according to The Athletic.
The club paid back the money after an institutional fund of £250million was raised, which includes with an average span of over 20 years and an average interest rate of around 2.8%
Spurs have not handed out any new contracts since they took out the loan, which was taken up as part of the COVID Corporate Financing Facility in June of last year (BBC).
The Telegraph reported earlier this week that there were concerns that the forward could have been hesitant on committing his future to the club following reports that Harry Kane wants to leave and join a Premier League rival.
Italian sports journalist Fabrizio Romano claimed that a new deal for the South Korean will see him rewarded with a pay rise with talks having been held between both parties since December.
Son has been reluctant to comment on his future at Tottenham previously and was quizzed about his contract situation in February, where refused to be drawn on the speculation, insisting it would be ‘unfair’ to talk about a new deal while his focus was still on the remaining part of the season (Independent).
Confirmation of a new contract for Son would represent a huge boost for Tottenham fans in what has been a troubling time given Harry Kane’s uncertain future and the PR disaster of the search for a new head coach.
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