I've seen comments from other fans saying we should have a transfer ban
Gregg's have also used the same loan scheme so presumably they are banned from buying flour
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I've seen comments from other fans saying we should have a transfer ban
Gregg's have also used the same loan scheme so presumably they are banned from buying flour
The larger loan does not have to be paid back for a number of years while the one today has to be paid back within two years. So don't think one will be used to service the otherI think it’s in the Tottenham Hotspur Stadium account name, meaning it’s a separate entity of THFC accounts hence can only be used in reference to all assets owned by or accountable for the stadiums name.
My guess is that this will free up some of the debt we need to pay back on the stadium from our profits, resulting in more we can use to pay wages, transfer fees etc whilst staying in line with self sufficiency.
Tottenham Hotspur Stadium Ltd (“THS”) confirmed as eligible issuer for the Covid Corporate Financing Facility (“CCFF”) | Tottenham Hotspur
THS has met the criteria set by the Bank of England for the CCFF and has issued £175m of Commercial Paper through this facility.www.tottenhamhotspur.com
Edit, if our stadium loans are at an interest rate of 2.66% to the banks but this loan is anything from 0.1%-0.5% then instantly Levy has shaved 2% interest minimum off of £175m of our stadium loans payable.
I’m not sure but we might be able to squeeze two repayments back to the banks with it, depending on the dates it’s needed to be paid. We can pay one lump to the bank so now for example and another a day before we have to pay the Bank Of England back in April. I’ve got absolutely no idea about timeframes involved or legalities/ extension periods or if there are what the extra interest will be but knowing the club they have done their homework on this and it works out better that we go with it than not to if you get what I mean?
On top of that, inflation sitting well above the 0.5% rate for this facility means that it is gaining value just by Spurs having access to it. With inflation around 2%, that's a 1.5% margin every year...
That boy Daniel's done it again...
I've seen comments from other fans saying we should have a transfer ban
Neville was having a cry about that over the furlough scheme. Therefore that has been the latest catch cry of the click baited moron.
THFC Stadium is as we know a subsidiary of THFC. All gate revenue is accounted for through the stadium. This loan isn’t going to be used to pay down debt this is additional debt basically to finance the loss of gate and match day income.
No matter which way you look at it ( unless it’s through THFC tinted specs) is money that is going to have to be repaid and irrespective of how much interest that’s going to take some doing. The conditions around the loan are a lot tighter that “ Yep have £175 million do with it what you want”Irrespective the majority of the Bonds are long term commitments which undoubtedly will cost THFC significant sums by way of early redemption penalties
Forget how long or how much the bonds are going to cost or what % of income is attributable to wages when this debt matures repayment is either going to have to come out of income generated or further long term borrowings.
It’s far from good news
No matter which way you look at it ( unless it’s through THFC tinted specs) is money that is going to have to be repaid and irrespective of how much interest that’s going to take some doing. The conditions around the loan are a lot tighter that “ Yep have £175 million do with it what you want”Irrespective the majority of the Bonds are long term commitments which undoubtedly will cost THFC significant sums by way of early redemption penalties
Forget how long or how much the bonds are going to cost or what % of income is attributable to wages when this debt matures repayment is either going to have to come out of income generated or further long term borrowings.
It’s far from good news
They haven't said it, because it doesn't? Who knows how long we will have to play behind closed doors for, worse case scenario is from 17th to throughout the whole of next year. I'm expecting more frugality than usual in regards to player transfers. Gedson, forget it unless we can vastly reduce his fee or renew his loan every 18 months for 2 million.
It's kicking the can down the road but it puts the financial situation in our hands rather than in unknown ones. It has to either be paid back in April 2021 or April 2022 in full. It is a concern but I think it is better to have it than have not as it gives the club control over the situation.
Well the travel industry have borrowed Millions and still not using it to pay back customers for all the cancelled journeys and so no strings attached to how spent.I've seen comments from other fans saying we should have a transfer ban
Gregg's have also used the same loan scheme so presumably they are banned from buying flour
Just had the strangest conversation at the supermarket checkout with a Mexican-Spanish neighbour, she's about 75 going on 80. It was made more surreal by us both being muffled by our respective face masks.
María Jesús: Hi Bill, everything OK?
Me: Yes thanks Mª Jesús, how are you and your family?
Mª Jesús: Fine thanks. By the way, congratulations! (I assume this was a reference to my Spanish nationality finally coming through, I'd mentioned it to her husband last week) And great to see Tottenham getting that line of credit, it sounds like they needed it!
Me (confused, I had no idea whatsoever she knew I liked football, much less supported Spurs): Sorry?
Mª Jesús: I read that Spurs had been granted an important line of credit. That must be a big relief!
Me (still confused): Tottenham?
Mª Jesús (starting to look at me like I was a bit daft): Yes, Tottenham have a lot of debt don't they? So this new credit should smooth things over.
Me (pulling myself together): Aaaah yes, well yes we have just built a huge new stadium so I suppose it will help!
Mª Jesús: That's right - it cost a billion euros, right? Well, nice to see you, give my love to your wife! (exits stage left with a jaunty wave)
María Jesús: Hi Bill, everything OK?
Me: Yes thanks Mª Jesús, how are you and your family?
Mª Jesús: Fine thanks. By the way, congratulations! (I assume this was a reference to my Spanish nationality finally coming through, I'd mentioned it to her husband last week) And great to see Tottenham getting that line of credit, it sounds like they needed it!
Me (confused, I had no idea whatsoever she knew I liked football, much less supported Spurs): Sorry?
Mª Jesús: I read that Spurs had been granted an important line of credit. That must be a big relief!
Me (still confused): Tottenham?
Mª Jesús (starting to look at me like I was a bit daft): Yes, Tottenham have a lot of debt don't they? So this new credit should smooth things over.
Me (pulling myself together): Aaaah yes, well yes we have just built a huge new stadium so I suppose it will help!
Mª Jesús: That's right - it cost a billion euros, right? Well, nice to see you, give my love to your wife! (exits stage left with a jaunty wave)
Just had the strangest conversation at the supermarket checkout with a Mexican-Spanish neighbour, she's about 75 going on 80. It was made more surreal by us both being muffled by our respective face masks.
María Jesús: Hi Bill, everything OK?
Me: Yes thanks Mª Jesús, how are you and your family?
Mª Jesús: Fine thanks. By the way, congratulations! (I assume this was a reference to my Spanish nationality finally coming through, I'd mentioned it to her husband last week) And great to see Tottenham getting that line of credit, it sounds like they needed it!
Me (confused, I had no idea whatsoever she knew I liked football, much less supported Spurs): Sorry?
Mª Jesús: I read that Spurs had been granted an important line of credit. That must be a big relief!
Me (still confused): Tottenham?
Mª Jesús (starting to look at me like I was a bit daft): Yes, Tottenham have a lot of debt don't they? So this new credit should smooth things over.
Me (pulling myself together): Aaaah yes, well yes we have just built a huge new stadium so I suppose it will help!
Mª Jesús: That's right - it cost a billion euros, right? Well, nice to see you, give my love to your wife! (exits stage left with a jaunty wave)
She's now back speaking to her husband "I think that Bill's a closet gooner....I mentioned the spurs loan to him and he didn't have a fucking clue what I was talking about"
On top of that, inflation sitting well above the 0.5% rate for this facility means that it is gaining value just by Spurs having access to it. With inflation around 2%, that's a 1.5% margin every year...
That boy Daniel's done it again...
Just had the strangest conversation at the supermarket checkout with a Mexican-Spanish neighbour, she's about 75 going on 80. It was made more surreal by us both being muffled by our respective face masks.
María Jesús: Hi Bill, everything OK?
Me: Yes thanks Mª Jesús, how are you and your family?
Mª Jesús: Fine thanks. By the way, congratulations! (I assume this was a reference to my Spanish nationality finally coming through, I'd mentioned it to her husband last week) And great to see Tottenham getting that line of credit, it sounds like they needed it!
Me (confused, I had no idea whatsoever she knew I liked football, much less supported Spurs): Sorry?
Mª Jesús: I read that Spurs had been granted an important line of credit. That must be a big relief!
Me (still confused): Tottenham?
Mª Jesús (starting to look at me like I was a bit daft): Yes, Tottenham have a lot of debt don't they? So this new credit should smooth things over.
Me (pulling myself together): Aaaah yes, well yes we have just built a huge new stadium so I suppose it will help!
Mª Jesús: That's right - it cost a billion euros, right? Well, nice to see you, give my love to your wife! (exits stage left with a jaunty wave)
For a moment.... imagine that this was Levy and not Rummenigge saying this:
uk.sports.yahoo.com
Bayern Munich chairman Karl-Heinz Rummenigge insists football must "become more rational" due to the financial impact of coronavirus.
After an enforced two-month break due to the COVID-19 pandemic, the Bundesliga returned in May, with Europe's other top-five major leagues – with the exception of Ligue 1, which opted to cancel the remainder of its season – resuming in June.
"Football has to try to become a bit more rational in order to be more stable for future crises," Rummenigge, who had previously revealed Bayern would be cautious with their transfer policy over coming seasons, told Handelsblatt.
"In the past 10 years, with this ever-higher-ever-further-ever-faster sums for player transfers and player salaries, football has shot a long way past the goal.
"This can no longer be called rational. That filled every summer break. We have to find better solutions in Europe."
Rummenigge is not convinced, however, that the introduction of a salary cap would be a feasible option, instead preferring more stringent Financial Fair Play (FFP) regulations.
"The legal requirements probably do not allow this [a salary cap]," he said.
"No, we need more rationality, and we have to develop FFP in Europe more rigorously with clear, key figures. Originally, it was always about not spending more money than is earned."
Football has to be rational – Rummenigge expects transfer market to change post-coronavirus
Football has to be more rational in regards to the transfer market in the wake of the coronavirus crisis, says Karl-Heinz Rummenigge.
uk.sports.yahoo.com
Bayern Munich chairman Karl-Heinz Rummenigge insists football must "become more rational" due to the financial impact of coronavirus.
After an enforced two-month break due to the COVID-19 pandemic, the Bundesliga returned in May, with Europe's other top-five major leagues – with the exception of Ligue 1, which opted to cancel the remainder of its season – resuming in June.
"Football has to try to become a bit more rational in order to be more stable for future crises," Rummenigge, who had previously revealed Bayern would be cautious with their transfer policy over coming seasons, told Handelsblatt.
"In the past 10 years, with this ever-higher-ever-further-ever-faster sums for player transfers and player salaries, football has shot a long way past the goal.
"This can no longer be called rational. That filled every summer break. We have to find better solutions in Europe."
Rummenigge is not convinced, however, that the introduction of a salary cap would be a feasible option, instead preferring more stringent Financial Fair Play (FFP) regulations.
"The legal requirements probably do not allow this [a salary cap]," he said.
"No, we need more rationality, and we have to develop FFP in Europe more rigorously with clear, key figures. Originally, it was always about not spending more money than is earned."
Although Levy was saying this before the pandemic.For a moment.... imagine that this was Levy and not Rummenigge saying this:
Football has to be rational – Rummenigge expects transfer market to change post-coronavirus
Football has to be more rational in regards to the transfer market in the wake of the coronavirus crisis, says Karl-Heinz Rummenigge.
Bayern Munich chairman Karl-Heinz Rummenigge insists football must "become more rational" due to the financial impact of coronavirus.
After an enforced two-month break due to the COVID-19 pandemic, the Bundesliga returned in May, with Europe's other top-five major leagues – with the exception of Ligue 1, which opted to cancel the remainder of its season – resuming in June.
"Football has to try to become a bit more rational in order to be more stable for future crises," Rummenigge, who had previously revealed Bayern would be cautious with their transfer policy over coming seasons, told Handelsblatt.
"In the past 10 years, with this ever-higher-ever-further-ever-faster sums for player transfers and player salaries, football has shot a long way past the goal.
"This can no longer be called rational. That filled every summer break. We have to find better solutions in Europe."
Rummenigge is not convinced, however, that the introduction of a salary cap would be a feasible option, instead preferring more stringent Financial Fair Play (FFP) regulations.
"The legal requirements probably do not allow this [a salary cap]," he said.
"No, we need more rationality, and we have to develop FFP in Europe more rigorously with clear, key figures. Originally, it was always about not spending more money than is earned."
Coming out with regular comments such as we have to get over our obsession with spending money, it doesn't happen in other countries.
spending money doesn't necessarily equate to being successful
we are unique. We are different.
This is the kind of patronising bullshit that riled so many of us. Particularly as it coincided with the club announcing world record profits again and the revelation of Levy's record breaking bonus / salary.
To try and justify this now, using the hindsight of the coronavirus pandemic, ain't gonna wash, I'm afraid.
The kind of bullshit that riles is when you say he earns twice as much as other chairman when you always refuse to acknowledge that that particular season you always reference involved a one off lump sum stadium project bonus John. Fair is fair mate.
Some see spending within your means as fair and sensible, others see it as lacking ambition even though then FFP guidelines are there for the safety of teams, it depends on how you view it but with constant references in the past about our owners taking money out of the club, even though the accounts say different I think it should clear to see what your agenda has been pal.
I’m not saying the owners won’t in the future but going on what’s happened you’re a millions miles off of the reality of it all based on what’s occurred so far during the ENIC years.
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what's PSG's secret?
It's funny.... We had an ENIC poll on TFC and it tells the story that you and your (un)-merry band of similar conspiracy theorists are in fact a significantly small minority. If one is to see the membership of TFC as a snapshot of the larger fanbase then your collective voice is a mere pin-drop.
Thought I’d stick this in here:
Rational after signing someone for more than £50m and paying him a reported £385,000 per week?For a moment.... imagine that this was Levy and not Rummenigge saying this:
Football has to be rational – Rummenigge expects transfer market to change post-coronavirus
Football has to be more rational in regards to the transfer market in the wake of the coronavirus crisis, says Karl-Heinz Rummenigge.
Bayern Munich chairman Karl-Heinz Rummenigge insists football must "become more rational" due to the financial impact of coronavirus.
After an enforced two-month break due to the COVID-19 pandemic, the Bundesliga returned in May, with Europe's other top-five major leagues – with the exception of Ligue 1, which opted to cancel the remainder of its season – resuming in June.
"Football has to try to become a bit more rational in order to be more stable for future crises," Rummenigge, who had previously revealed Bayern would be cautious with their transfer policy over coming seasons, told Handelsblatt.
"In the past 10 years, with this ever-higher-ever-further-ever-faster sums for player transfers and player salaries, football has shot a long way past the goal.
"This can no longer be called rational. That filled every summer break. We have to find better solutions in Europe."
Rummenigge is not convinced, however, that the introduction of a salary cap would be a feasible option, instead preferring more stringent Financial Fair Play (FFP) regulations.
"The legal requirements probably do not allow this [a salary cap]," he said.
"No, we need more rationality, and we have to develop FFP in Europe more rigorously with clear, key figures. Originally, it was always about not spending more money than is earned."
