Spurs thread 2020/21

[Cellarite]

Even if Spurs had won the bid for the Olympic stadium, their plan was to demolish it, build a football specific stadium in its place and pay for the Crystal Palace athletics venue to be expanded and revamped. So it wouldn't have been a cheap option at all.

The £175m Bank of England loan is at a ridiculously low interest rate of 0.5%. Therefore, no problem servicing it. It's due to be repaid this summer but I suspect, given the ongoing COVID impact on business, that the loan period will be extended for another year. As and when it has to be repaid, Spurs have a cash balance in excess of £200m.

So Spurs won't have to sell either Kane or Son. Whether Kane and Son want to want to stay is altogether another matter, though, given the current shitshow!

As I said when I last posted, I haven't been able to bring myself to watch Spurs since early December. That's what Mourinho has done. I was always doubtful about the appointment but was willing to give him the opportunity to prove me wrong. I wasn't.

Spurs fans have become numbed to results and performances like yesterday's. We expect it. And we can't wait for the day that he is gone. From what various ITK's are saying, it's only a matter of when, not if, now. Probably end of season but small possibility it could be earlier. Either way, the decision has been made. He is dead man walking.

And in case I forget in the aftermath, congratulations on your forthcoming EFL Cup win.

It seems really strange to me that when you were last here, you posted numerous times using the loan as a reason why they tried to furlough staff but now, here you are saying that servicing the loan is no problem.

 

[JimB]

It seems really strange to me that when you were last here, you posted numerous times using the loan as a reason why they tried to furlough staff but now, here you are saying that servicing the loan is no problem.

Not quite!

It was, of course, the looming financial crisis triggered by COVID that led to the decision to apply to the furlough scheme. The £650m loan was why Spurs, more than any other PL club, had to exercise extreme financial discipline in the circumstances. When you take on that much debt, you inevitably have to agree to certain constraints on how you operate.

Spurs' decision to furlough 250 staff was made over a year ago. At the time, no one knew or understood much about COVID or what the future held. There was no telling how long the pandemic would last. There was no telling whether or how the virus would mutate. There was no telling whether any effective vaccine could be developed. All professional football had been postponed indefinitely. Pretty much all income had ground to a halt - including TV and prize money payments. In the meanwhile, players were still expecting to be paid their full whack.

That was the context for the decision.

Over a year later, the situation is very different. As we know, professional football thankfully restarted after a few months. Effective vaccines have been developed. There is light at the end of the tunnel. Clubs still aren't able to earn from their stadiums but other income streams have returned. The crisis was averted to a large extent.

But that wasn't an outcome that could have been banked on in March of last year.

 

[wolviedinho]

Not quite!

It was, of course, the looming financial crisis triggered by COVID that led to the decision to apply to the furlough scheme. The £650m loan was why Spurs, more than any other PL club, had to exercise extreme financial discipline in the circumstances. When you take on that much debt, you inevitably have to agree to certain constraints on how you operate.

Spurs' decision to furlough 250 staff was made over a year ago. At the time, no one knew or understood much about COVID or what the future held. There was no telling how long the pandemic would last. There was no telling whether or how the virus would mutate. There was no telling whether any effective vaccine could be developed. All professional football had been postponed indefinitely. Pretty much all income had ground to a halt - including TV and prize money payments. In the meanwhile, players were still expecting to be paid their full whack.

That was the context for the decision.

Over a year later, the situation is very different. As we know, professional football thankfully restarted after a few months. Effective vaccines have been developed. There is light at the end of the tunnel. Clubs still aren't able to earn from their stadiums but other income streams have returned. The crisis was averted to a large extent.

But that wasn't an outcome that could have been banked on in March of last year.

All very fair points but Spurs could have waited a little bit longer before fucking over their employees and then signing players in the transfer market. The club acted in an awful manner and no matter the explanation it was an elitist move over the working class.

 

[Invisible Man's Bandage]

I fucking hate Spurs but you have to wonder WTF is going on when they announce a new sponsorship deal with Dulux only for the Dulux social media team to take the piss out of their lack of need of a trophy cabinet.

Dulux’s Twitter trolling of Tottenham takes gloss off club’s new sponsorship

Tottenham’s new commercial partnership with Dulux got off to a rocky start on Thursday after the paint supplier mocked the club on Twitter

www.theguardian.com

 

[JimB]

All very fair points but Spurs could have waited a little bit longer before fucking over their employees and then signing players in the transfer market. The club acted in an awful manner and no matter the explanation it was an elitist move over the working class.

The employees wouldn't have been affected. They would still have received their full pay. Only difference is that 80% of it would have been paid via the furlough scheme.

 

[Vienna_70]

I fucking hate Spurs but you have to wonder WTF is going on when they announce a new sponsorship deal with Dulux only for the Dulux social media team to take the piss out of their lack of need of a trophy cabinet.

Dulux’s Twitter trolling of Tottenham takes gloss off club’s new sponsorship

Tottenham’s new commercial partnership with Dulux got off to a rocky start on Thursday after the paint supplier mocked the club on Twitter

www.theguardian.com

Oops!

 

[manclad]

I fucking hate Spurs but you have to wonder WTF is going on when they announce a new sponsorship deal with Dulux only for the Dulux social media team to take the piss out of their lack of need of a trophy cabinet.

Dulux’s Twitter trolling of Tottenham takes gloss off club’s new sponsorship

Tottenham’s new commercial partnership with Dulux got off to a rocky start on Thursday after the paint supplier mocked the club on Twitter

www.theguardian.com

It seems to me that Spurs would have been better to be sponsored by another 5 letter word that begins in D and ends in X.
After all their club symbol is a cock.
Their manager is a cock.
Their chairman is a cock.
And some of their fans that post on here are big cocks.
Yes, DUREX emblazoned across their white shirts would be very apt.

 

[Vienna_70]

The employees wouldn't have been affected. They would still have received their full pay. Only difference is that 80% of it would have been paid via the furlough scheme.

In other words, Tottenham Hotspur Football Club - one of the supposed élite in this country - taking taxpayers' money to pay its staff.

 

[StillBluessinceHydeRoad]

It seems to me that Spurs would have been better to be sponsored by another 5 letter word that begins in D and ends in X.
After all their club symbol is a cock.
Their manager is a cock.
Their chairman is a cock.
And some of their fans that post on here are big cocks.
Yes, DUREX emblazoned across their white shirts would be very apt.

Is that because Mourinho players never score?

 

[wolviedinho]

The employees wouldn't have been affected. They would still have received their full pay. Only difference is that 80% of it would have been paid via the furlough scheme.

You can’t defend the actions of a greedy self serving football club. I bet the board members/shareholders did not get furloughed.