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truebluethroughandthrough

Spurs new stadium has spursy - Delayed

By truebluethroughandthrough, in General Football and Sport

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KingsX

KingsX

Posted
Posted
1 hour ago, urban.spaceman said:

Spurs stadium loan rockets up to £500m to cover rising costs

Spurs have extended their stadium loan to £500million to cover the rising costs of the delayed construction.

Senior sources close to the stadium build have confirmed the club has extended their line of credit by £100m to cover rising costs.

The additional loan facility would help the club cover any additional costs.

The £400m loan announced last year, replaced a £200m interim financing that was put in place in December 2015.

Manchester United currently has the highest net debt among European football clubs, standing at £487m.

 

Half a billion pounds  lol  Remember that Arsenal took a decade to pay back half of a debt much smaller than this, and became much more careful spenders just as huge foreign money came into other clubs.  (If you think Wenger’s management was the only reason for their decline, I beg to differ.)

 

Even Man U, the sponsorship-generating giants of English football, sometimes watch pennies due to the Glazers’ debt.  Here come Spurs with a bigger loan, just as interest rates are rising for the first time in years.  And Brexit and/or the world economy going into recession could easily trash corporate spending in the UK.  Drying up the well Levy is surely planning to tap.

 

That would leave Spurs’ STHs to make up tens of millions a year in debt service.  Daniel, turn that Cheese Room into a Beer Garden !

 

I speculate, of course, but this could be Spursy indeed.  Will they become a selling club for the next decade?  Let’s make a January offer for Son and find out.

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Jattdogg

Jattdogg

Posted
Posted
On 21/10/2018 at 11:20, KingsX said:

 

Half a billion pounds  lol  Remember that Arsenal took a decade to pay back half of a debt much smaller than this, and became much more careful spenders just as huge foreign money came into other clubs.  (If you think Wenger’s management was the only reason for their decline, I beg to differ.)

 

Even Man U, the sponsorship-generating giants of English football, sometimes watch pennies due to the Glazers’ debt.  Here come Spurs with a bigger loan, just as interest rates are rising for the first time in years.  And Brexit and/or the world economy going into recession could easily trash corporate spending in the UK.  Drying up the well Levy is surely planning to tap.

 

That would leave Spurs’ STHs to make up tens of millions a year in debt service.  Daniel, turn that Cheese Room into a Beer Garden !

 

I speculate, of course, but this could be Spursy indeed.  Will they become a selling club for the next decade?  Let’s make a January offer for Son and find out.

Kane to real for 200 mill to cover costs

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Carl the Llama

Carl the Llama

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Posted

But wait, there's more:

https://www.bbc.co.uk/sport/football/45998196

Quote

Tottenham will continue playing games at Wembley until the end of this year.

Their new 62,000-seat arena was supposed to open on 15 September but safety concerns led to a delay.

Chairman Daniel Levy said: "In light of factors completely outside of our control, contractors missing deadlines and possible future unforeseen issues, we are naturally being cautious.

"All home games will be played at Wembley Stadium up to and including the game against Wolves on 29 December."

Adding that the delay was an "immense disappointment", Levy said: "There isn't an hour that goes by when I am not asked when we will be able to stage our first game at our new home.

"I wish I was able to confirm an exact opening date and fixture.

"Whilst we are conscious of the need to keep pressure on our contractors to deliver as soon as possible, we are also acutely aware of how difficult the lack of clarity is for our supporters."'

 

Stating that he hoped the completed stadium would be "one of the finest in the world", Levy said the delay had made it possible to bring some aspects of the project forward.

"We have not stood still whilst work on the critical safety systems has been happening," he said.

"The delay in the stadium opening has made it possible for some track and station improvements to be brought forward due to the fact that previously non-available construction dates have become available for works."

Another update on the stadium's development is expected in December.

In September, Tottenham manager Mauricio Pochettino said he would "help to finish the stadium" and was confident it would be finished this year.

"Maybe one or two months means a lot but in the end it is no time because the most important thing is to finish and in the future have a venue that is going to help us win trophies," he added.

 

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  • 2 weeks later...
urban.spaceman

urban.spaceman

Posted
Posted
On 09/11/2018 at 09:00, Facecloth said:

Spurs have been warned by the Advertising Standards Agency for advertising claims they can't fulfil lol

 

Tottenham warned over Champions League stadium advertisement - http://www.bbc.co.uk/sport/football/46143481

The best thing about that is that the complaint was made by an Arsenal fan!

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  • 4 weeks later...
Finnegan

Finnegan

Posted
Posted (edited)

Ngl, I'm a fan. Love the "kop" bit. 

 

Definitely fancy an away trip when it's open. Shame we had our new stadium built in the identikit era along with Derby, Soton et all because Brighton's and now this are superb. 

 

 

Edited by Finnegan
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