Tottenham become the most in-debt club in Europe

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Image: SpursWeb

Tottenham Hotspur have increased their stadium loan to a whopping £500m according to the Daily Mail.

They claim the North London club have increased their line of credit by £100m.

The Sun say Spurs agreed a five-year loan worth £400m with HSBC, Goldman Sachs and Bank of America Merrill Lynch in 2017.

If this is all true, Tottenham will become the most in-debt club in Europe, ahead of fellow Prem side Manchester United.

United’s debts were calculated at £487m in January this year.

Tottenham have experienced a multitude of issues with their new stadium build over the summer.

The 62,000 seat ground was originally supposed to open on September 15 against Liverpool.

Issues with the fire safety system delayed the grand opening.

Since then, the club have failed to announce a new opening date, but with the pitch being laid last week, it can’t be far off.

Daniel Levy will desperately want those doors open as soon as possible to begin repaying these loan fees.

 

 

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14 COMMENTS

  1. This site loves to concentrate on the negatives of our great club.. I prefer sites that at least have a mix… Perhaps start using supporters in stead of fans?

    • As I just replied to another:
      We report Spurs news. The majority of this is positive stuff, but sometimes the odd important issue crops up too. I’m sure you’re grown up enough to handle these ‘negative’ headlines. The new stadium is months behind schedule, are we not allowed to report that? Eriksen has been out injured, is that too negative to bring up. News is news mate.

      I am a Tottenham season ticket holder and have been going to games and supporting the club most my life. I assure you that I love writing the positive stories, but to ignore the slightly negative ones because they are not as nice to read is irresponsible.

    • We report Spurs news. The majority of this is positive stuff, but sometimes the odd important issue crops up too. I’m sure you’re grown up enough to handle these ‘negative’ headlines. The new stadium is months behind schedule, are we not allowed to report that? Eriksen has been out injured, is that too negative to bring up. News is news mate.

      • “Grown up enough”?? You need to grow up and improve on your lack of journalistic skills laddie. The majority of what you write is negative, there are plenty of positives about out great club, try concentrating on that.. Yes I know that my comments will get me banned which actually says more about you than it does me.

        • This is just pure rubbish. The majority of what I write is transfer gossip, stadium news, match reports, things we learned from the game, player ratings, etc. You just like to pick out the odd article with some bad news in it and make a big fuss. Unfortunately, it isn’t always good news in life mate. When you start picking and choosing what you publish because it is deemed good/bad, you begin dictating what is news. Something I was taught not to do, you know when I was receiving my diploma in journalism, so I think my practices are just fine thanks.

          The idea of only reporting the good is utterly rubbish. Bad news incites discussion and change moving forward. I’m a season ticket holder at Spurs and just as much of a fan and supporter as anyone, so please do not act as if you know a thing about me or my job.

  2. Im sure in reality millions were made by deadlines not being met by the builders/contactors.
    Levy would have made sure that was in place…no mention of this in the artical, nor the money being made from naming rights when this is finalised, or the money being paid by the Americans for there footie being played there etc etc.

  3. seb, Theres nothing wrong with reporting on negatives, such as injuries ect, but why not highlight the good points? The stadium was always an ambitious open target, and Spurs can hardly be blamed for technical problems. That is down to the contractors. The Emirates took about two and a half years to complete, and even with the delays we will open in a lot shorter time. The cost is rising due to the economical climate, not because of bad financing within the club. We have enough negativity from media and pundits, especially that hypocritical gooner Durham on TalkSport, and it would be good if commentators such as yourself got on the talksport web site and ridiculed Durham and his constant Spurs hating rants.

    • Thank you for your fair and well written opinion, it is much nicer to receive these than other aggressive and needless messages.

      We have reported on the amazing updates in the stadium such as the pitch, the new lighting technology, the increased capacity, the new shop and all its features etc, and we will continue to do so.

      I take your point about the more positive press about the stadium in general, and perhaps that is needed. Celebration of the amazing building achievement is likely to come once ot does open and we can experience it for ourselves.

      Your comments have been noted. Thanks for your message :)

  4. Usually, clubs build new, much bigger and generally costly stadiums only after they have achieved repeatedly successes during the recent past and therefore they have increased the popularity, the commercial value and the revenue of the club.
    Levy and Co have built a new bigger and expensive stadium primary in order to increase the selling value of the club!
    Achieving success on the field and winning regularly trophies never has been their main target during their eighteen years ownership of the club.
    What a pity for a big and popular football club like Spurs to have such owners!

  5. According to the last reported figures for Spurs (for the financial year ending 30/6/2017) Spurs had around £387m of debt, but they also had around £400m of RETAINED PROFITS in their accounts. In other words their retained cash was larger than their debt by around £13m!! The writer of this article hasn’t done his homework!

    Hence even if they have increased their debt up to £500m their net debt will still be tiny because of the retained profits.

    Spurs will not issue the accounts for the financial year ending 30/6/2018 until March/April 2019

    • Information was sourced from the Sun, but as far as I understand, they have no increased their debt TO £500m, they have increased in BY £500m. So this huge cost for the stadium would be added to the usual costs of the year, minus any earnings.

      But at the end of the day, it’s only temporary. We get one of the best stadiums in the world, and with TV revenue as high as it is, we’ll pay it back in no time :)

  6. To Dare is to Do, at least Spurs dare and I am sure they will do. Alternative? sit on hands and do nothing. Not the club I love we had that in the 80s and 90s this is Spurs time to sine…and they will mark my words. Once they get this new ground up and running with continued CL footie the increased ground revenue, get the naming right deal in place, NFL revenues, it will be paid back in 5 years. We then have a first rate world class venue and a Club that will be in the vanguard of club football until we are all in the ground. We will even see an NFL franchise based at the lane in due course. Then we will complete directly with the Man City, Real Madrid’s and Barcelona’s for transfer fees. Yes I get the Club will be sellable owners players manager and players all come and go but we the supporters are a constant, that will always be true. If the club is sold the new owners will most likely clear the debt sooner if not immediately. It will probably be to a US owner who will bring in the NFL franchise. big money and the Spurs go marching ON. COYS

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