Report: Spurs receive transfer fund boost with solution for stadium repayments

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Image: SpursWeb

As some Tottenham fans may know, the club recently moved into a state of the art new stadium after around two years of building works on the site of the old White Hart Lane.

This will be the clubs first full season in the new ground, but could it have a negative effect on their transfer funds in the near future?

Tottenham famously failed to sign a single player over the course of last season, before bringing in four stars this summer.

The Express state that Spurs originally expected the stadium to cost around £400m, but this eventually increased to approximately £1 billion.

The Athletic now state that Tottenham borrowed £637 million of that money from the likes of HSBC, Goldman Sachs, and the Bank of America.

This money has to be paid back by 2022, but Spurs have been given a boost thanks to a new scheme by the Bank of America. This essentially turns around £400m of the debt into bonds with maturities that range from 15 years to 30 years.

Spurs will still have to repay the loans, but they now have far longer to do so, a similar arrangement to Man United back in 2015.

The Express pose that this could help to free up money in the transfer window for Spurs, as they are not hampered by huge short-term debts.

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