Tottenham postpone payments. The Premier League team has reached an agreement with the British Government to postpone for one year the repayment of the loan of 175 million pounds (197 million euros) received from the Bank of England last June to alleviate the consequences of the crisis of the coronavirus reports Daily Mail.
The Spurs they had committed to repaying the loan before April 2021, with an interest rate of 0.5%. That money could not be used to sign players, but was used to provide the club with liquidity and flexibility to meet its structural expenses.
The London team reduced revenues by 12.7% in the 2019-2020 season, to 402.4 million pounds (450.6 million euros), entering losses with red numbers of 63.9 million pounds (71.6 million euros) in the fiscal year ended June 30, 2020.
Tottenham buy time to return the Bank of England the public loan to face the consequences of the pandemic
Last week, the Premier League team accelerated in the plans of its real estate project. The Spurs They received permission in 2018 to build 646 new homes on club-owned plots known as Goods Yard and the Depot, in the vicinity of the White Hart Lane train station, and now expand their proposal by almost a third to a total of 1,000 households.
Unlike Tottenham, one of their rivals in the English league that has also received state funding, Arsenal does plan to repay the loan of 120 million pounds (132.61 million euros) this May received by Bank of England last January.
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