Transfer Rumours transfer thread fact and fiction

I got most of what I wanted thru nearly all of the Pochettino era.
And you ... ??

 

AFAIK, Munich and PSG are not in the same club league as Spurs.

 

We are not limited by the FA or UEFA rules but we are limited by the covenant on the stadium loans. The exact details are not in the public domain but it's cashflow related to ensure interest payments are covered.
That means we can only spend more if we pay off the loans or renegotiate the covenant.

 

I highly doubt the club are spending as much as they are allowed to on wages and transfer fees.

 

It's not any easy calculation but the measure has been more or less constant since the stadium opened at about 1.75 times the interest.

 

Definitely not on wages, we knocked off a **** load during the summer.

 

Will that not hold us back for the next 19 years?

 

I know, I just don’t get where PS is getting this from.

 

As director of communications for Tottenhan Hotspurs FC, it's clear our boy is getting it directly from Levy himself

 

Tottenhan Hotspurs FC

 

I think we actually have to wonder at some point if Power is indeed Levy himself!

 

Bayern certainly can, too. Funny what not paying to sign players from your rivals does for your FFP calculations, isn't it?

Chelsea and PSG certainly can too, though in the former's case it's mainly through loophole abuse due to them being such a dysfunctional club they literally cannot function without cheating, while the latter have Ligue 1's FFP regs waiting for them to slip up at this point

There's certainly an argument that each of the following clubs also has us beat on spending power: Girona, Troyes, Palermo, Lommel, Montevideo Torque, Yokohama F Marinos, NYC FC, Clube Bahia, Melbourne City, Shenzhen Peng, Mumbai City - because that's the network The Sheikh Mansour Team use to launder players, most obviously with Savinho

 

It 'holds us back' to spending about £150m more a year than if we hadn't built the stadium.

 

It was announced by Levy at a meeting with the supporters soon after we moved in to the new stadium.

 

Eh? So we shouldn't have built the stadium in the first place?

 

Fair enough. Thanks for clarifying

 

Only if you think spending £150m more is a bad thing.
It's actually pretty remarkable that the covenants are not more restrictive. The loans will be secured on the stadium but if the club went bust the stadium would only be worth a fraction of It's cost.

 

It was October 2019 in a meeting with THST.

"DL remarked the debt structure wasn’t complicated and was covenant light with just a minimum EBITDA ratio"

 

Sorry, I misread your post.

I assume the fresh investment ENIC is currently fishing for is in order to make a large dent in the debt burden, which presumably would allow us to renegotiate the covenants?

Also, quibbling here but our net spend has been quite a bit short of £150m pa since we moved to the stadium.

 

Covid put one big hole in it, and the extra non football events recently announced will allow net spend to increase without breeching the covenant so I think £150m or so is the potential net spend now but that includes wage increases as well as transfer spend.