Usmanov

[H.H.]

I dont get why a really big profitable football club with a copper bottomed credit rating need bailing out by the Government/B of E.

To the tune of £175m. (which I assume dwarfs their giddy profits anyrate).

I said it as soon as the stadium lockdowns were announced.
Spurs are gonna have a lot more problems than almost every other premier league team.

Oops, I forgot .

 

[ForeverBlue92]

Probably because they didn't predict the Covid-19 thing when working out what debt they thought they could manage.

Like my kin credit card

 

[Cameron Manning]

No. He's a minority shareholder.
Mosh is the puppet master now in case you've missed it

No tommye, I haven’t missed the fact that Mr. Moshiri is the main man, I’m very much aware that Billy ‘ you know who’ is still connected to the club.

 

[PDAWG]

Must be waiting for the right time

 

[gwladysnight]

I dont get why a really big profitable football club with a copper bottomed credit rating need bailing out by the Government/B of E.

To the tune of £175m. (which I assume dwarfs their giddy profits anyrate).

They aren't being bailed out by the Government or the Bank of England. Neither organization is taking any equity in the club or excepting any future liabilities. They are just getting a loan that solves a cash flow problem.

What is needed is to separate profitability from cash flow.

 

[hirons11]

They aren't being bailed out by the Government or the Bank of England. Neither organization is taking any equity in the club or excepting any future liabilities. They are just getting a loan that solves a cash flow problem.

What is needed is to separate profitability from cash flow.

Disruptions to cash flow can cripple even profitable businesses. Probably why the Spuds have accessed this government loan.

 

[blueblue]

They aren't being bailed out by the Government or the Bank of England. Neither organization is taking any equity in the club or excepting any future liabilities. They are just getting a loan that solves a cash flow problem.

What is needed is to separate profitability from cash flow.

Agreed.
However this pandemic is hitting both. It is unprecedented and I don't think it is coincidental that Spurs and Liverpool were amongst the first to attempt to furlough staff.
For different reasons I think this close down has hit them very hard.

 

[roydo]

They aren't being bailed out by the Government or the Bank of England. Neither organization is taking any equity in the club or excepting any future liabilities. They are just getting a loan that solves a cash flow problem.

What is needed is to separate profitability from cash flow.

They have not been paid for what, 6 or 7 home games, yet need £175m. Whilst proudly banging on about how being so profitable and ace they are. Would have furloughed their staff if they could get away with it as well.

That is more money than an entire years TV cash.

 

[ashwuk76]

They have not been paid for what, 6 or 7 home games, yet need £175m. Whilst proudly banging on about how being so profitable and ace they are. Would have furloughed their staff if they could get away with it as well.

That is more money than an entire years TV cash.

Match day staff at spurs never got furloughed as they refused to. Also never got paid. I am one of the match day staff and have lost nearly 300 a month because of this. So not sure why they need cashflow money as they havent been paying match day staff like me.

 

[Tipp blue]

Match day staff at spurs never got furloughed as they refused to. Also never got paid. I am one of the match day staff and have lost nearly 300 a month because of this. So not sure why they need cashflow money as they havent been paying match day staff like me.

Because it's access to money at a ridiculously low interest rate, every club should be going for it, 0.5% interest on a loan that's almost free money. Banks would pay out 2% maybe more interest on that kind of money over a long period, lash the whole lot into the bank and they could end up profiting from it.

 

[gwladysnight]

They have not been paid for what, 6 or 7 home games, yet need £175m. Whilst proudly banging on about how being so profitable and ace they are. Would have furloughed their staff if they could get away with it as well.

That is more money than an entire years TV cash.

I think they are just looking at the worst case scenario and protecting the club. Who knows how long this pandemic will last.

 

[MondayHater]

I think they are just looking at the worst case scenario and protecting the club. Who knows how long this pandemic will last.

On this point, not to go off topic, but if fans are banned from the stadiums for a while I could see pay per club monthly options were fans watch all the live games for their club maybe other options to ask questions to certain players or watch training etc.

 

[gwladysnight]

On this point, not to go off topic, but if fans are banned from the stadiums for a while I could see pay per club monthly options were fans watch all the live games for their club maybe other options to ask questions to certain players or watch training etc.

The current TV deal wouldn't allow that to happen. However, we shouldn't underestimate how important the Premier League is to the likes of Sky. You have to look at how Sky's position has softened regarding rebates being deferred.

The last thing we need is for the bigger clubs with worldwide fanbases to be allowed to negotiate their own TV deals. If that happens we will end up mirroring Spain or Scotland.

 

[Dymak]

Spurs' 175 million pound loan is being used to offset a forthcoming loss of £200 million. They don't sound that profitable to me.

Tottenham Take 175 Million Pound Loan To Offset Loss Due To Coronavirus Pandemic | Football News

Tottenham Hotspur have predicted losses of 200 million pounds over the next year due to the coronavirus pandemic.

sports.ndtv.com

 

[ashwuk76]

Spurs' 175 million pound loan is being used to offset a forthcoming loss of £200 million. They don't sound that profitable to me.

Tottenham Take 175 Million Pound Loan To Offset Loss Due To Coronavirus Pandemic | Football News

Tottenham Hotspur have predicted losses of 200 million pounds over the next year due to the coronavirus pandemic.

sports.ndtv.com

It makes me laugh this article. Most of the hospitality areas had to pay 5 years up front just to get their tickets. Loss of hospitality income indeed!! The income from that went to pay for the stadium.