The bottom line is that to grow the club, investment had to made in the only way possible - stadium - to substantially increase revenues sustainably.
No argument from me.
The effect on the day to day business over the last 10 years I would say, and I'm pretty certain of this based on the numbers I've read, has been minimal.
Provide a source for these numbers please.
If the effect has been minimal, why have we been running such a tight ship?
The real pain of servicing the debt only started in the last 12-18 months I believe,
What about the £250m we spoke about earlier?
Tottenham refinance £637m stadium debt but purse strings will not loosen
• ‘It will have no bearing on how we run the club,’ says Daniel Levy
• Chairman defends his policy and says there is no quick fix
“It will have no bearing on how we run the club … and no bearing on those types of short-term movements [like transfers],” Levy replied. “I understand as I am a fan, clearly you want to win on the pitch. But we have been trying to look at this slightly differently, in that we want to make sure we ensure an infrastructure here to stand the test of time.
“We could have easily spent more money on players. Who knows if that would have bought us more success or not. The right approach is to build from the bottom up. There is no quick fix to becoming a much more significant global club.”
That was Levy speaking before the pandemic, saying we would continue to run a very tight ship in terms of player recruitment. We have since borrowed an additional £175m, which will further impact what we can spend on player recruitment.
And best of all, we have a quote from an Elliott McCabe, managing director in Bank of America Merrill Lynch’s sports finance and advisory group (and this pre-dates the pandemic):
“The management team of THFC continue to position the club for long-term success by growing the brand through ongoing investment, particularly in relation to the iconic new stadium. This is reflected in the strong market reception met by
Tottenham Hotspur as a first-time issuer in the private placement market.”
Daniel Levy has insisted he will continue to run Tottenham in the same way as in the past after announcing a refinancing of the club’s stadium loans
www.theguardian.com
Infrastructure will remain the priority.