Tottenham take out low-interest £175m loan from Bank of England to plug hole in finances
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dailystar.co.ukTottenham have taken out a low-interest £175m loan from the Bank of England to plug the gaping hole in their finances caused by coronavirus.
Spurs expect to lose more than £200m in revenue over the next 12 months as income from matchday and events plummets. In April, the club were forced into an embarrassing climbdown over their decision to furlough non-playing staff and enforce 20 per cent pay cuts after a public outcry.
But having invested heavily in their £1bn new stadium, the north London club have now taken advantage of the government’s Covid Corporate Financing Facility.
Chairman Daniel Levy said: "We have always run this club on a self-sustaining commercial basis.” Spurs insist the loan, which will not be used to buy players, was
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