https://www.tottenhamhotspur.com/news/2021/june/club-announcement-finance-update-ccff-repaid-short-term-debt-replaced-with-long-term/
The Club has completed on an institutional fund raising of £250m, with an average tenure of over 20 years and an average interest rate of circa 2.8%. The debt stack includes a new 30-year tranche, with a bullet repayment in 2051 and is a unique financing for any sports entity with the long-term institutional debt markets.
The funds have been used to repay the £175m CCFF funding from the Bank of England, which was used to address some of the shortfall in income caused by the pandemic and will also partially repay a bank loan held by the Bank of America which had a shorter term, moving it to fixed rate 15-year money, locking in low interest rates and extending the tenure of the debt.
Club financial announcement
posted on 18/6/21
comment by LukaBrasi Ryan's mate #FreePalestine (U22178)
posted 1 minute ago
None of the funds will be used for tranfers. No bank would allow it. The extra £75m will probably be used for the housing developement and new sports building which has been in the pipeline.
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What?
No bank would allow a business to invest in the very asset that makes that business what it is?
What do you think they will allow THFC to spend it on? Running the club ie players wages?
I heard it was ear-marked to finally deliver the cheese room.
posted on 18/6/21
Comment Deleted by Site Moderator
posted on 18/6/21
Some good news "hopefully"
#thfc are now ready to confirm Heung-min Son's new contract having repaid their £175M Bank of England loan. | @TheAthleticUK
posted on 18/6/21
comment by Devonshirespur (U6316)
posted 3 minutes ago
comment by LukaBrasi Ryan's mate #FreePalestine (U22178)
posted 1 minute ago
None of the funds will be used for tranfers. No bank would allow it. The extra £75m will probably be used for the housing developement and new sports building which has been in the pipeline.
----------------------------------------------------------------------
What?
No bank would allow a business to invest in the very asset that makes that business what it is?
What do you think they will allow THFC to spend it on? Running the club ie players wages?
I heard it was ear-marked to finally deliver the cheese room.
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We took out loan to build the stadium. There were rumours the club were not aloud a negative net spend in the transfer market when the stadium waa being built.
Other clubs have taken loans out whilst using future TV money has security but that very risky.
posted on 18/6/21
comment by Ace (U22467)
posted 33 minutes ago
comment by Edward Elizabeth Hitler. (U14393)
posted 8 minutes ago
Anyone know what's happining with the 75 mill left over?
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Shareholder dividends probably, Lewis needs a lick of paint for the helicopter landing pad on his yacht. Then there’s the club house of our new golf course to refurb.
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Lewis is such a villain
posted on 18/6/21
Comment Deleted by Site Moderator
posted on 18/6/21
I don’t imagine so - I just think they’d have done it to show no overlay in expenditure in the books. Also if you can guarantee Son signing a new contract but getting an extra month on his old contract then that seems decent business?
posted on 18/6/21
comment by Ace (U22467)
posted 39 minutes ago
Apparently this loan means we can confirm Sons contract. Should we be worried - that we’re so boracic lint we had to wait for this before we could even offer a player a new deal?
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If true thats worrying indeed.
We probably asking managers to work for free.
posted on 18/6/21
I don`t believe any of Levy`s propaganda, stadium repayments are just £30m per year, and we have gone for over decade with insignificant net spends on players, while having the lowest wage to turnover percentage in the PL.
There will be money to spend, Levy, Lewis and ENIC just don`t want to spend it, they were tight fisssted even when we were posting record profits, so they will not change.
In any case, why can`t Joe Lewis loan the club some of his £4 billion fortune, to see us through these covid afflicted times, it would be no skin off his nose and he would get his money back. Don`t even mention Levy`s £6m a year salary and bonuses.
posted on 18/6/21
Comment Deleted by Site Moderator