Daniel Levy insists transfer strategy will not be hit despite £637m debts

first_imgTOTTENHAM chief Daniel Levy insisted the club’s transfer strategy will not be changed – despite the club owing £637million in debts.Chairman Levy, 57, refinanced a series of loans through private bonds in the USA to secure their financial future.2 Tottenham chairman Daniel Levy has arranged a series of bonds with US investors to help the club financiallyCredit: AFP or licensorsSpurs moved into their new £1billion Tottenham Hotspur Stadium in April, funded in part through the borrowing of £637m from Goldman Sachs, Band of America and HSBC which needed to be paid back by April 2022.This week, though, a reported £525m of the debt was converted into bonds which will mature between 2034 and 2049.Speaking to the Financial Times, chairman Daniel Levy explained that the idea is to provide Spurs with the chance of playing on a more level playing field with the European powerhouses.But he insists the club’s financial planning will “have no bearing” on their approach to the transfer market with the deal not freeing up more funds to sign or pay players.He said: “I understand, as I am a fan, clearly you want to win on the pitch.”But we have been trying to look at this slightly differently, in that we want to make sure we ensure an infrastructure here to stand the test of time.”The businessman also added that the refinancing “will have no bearing on how we run the club… and no bearing on those types of short-term movements [like transfers]”.We could easily have spent more money on players. Who knows if that would have brought us more success or not.Daniel LevyLevy loosened the purse strings in the transfer market this summer, breaking the club’s record transfer fee.After 18 months without a fresh face coming through the door, Spurs signed Tanguy Ndombele for an initial £55million – the deal could rise to £65m – while Jack Clarke came in for £8.5m and Ryan Sessegnon for £25m.Giovani Lo Ceslo also came in on loan for £14.75m, with the club arranging to pay Real Betis a further £37.5m to keep him should the North Londoners qualify for the Champions League next season.Spurs have qualified for Europe’s elite club competition for the last four seasons but Levy admitted if he had spent the big bucks for a longer period, it may well have brought silverware.The club last lifted a trophy in 2008, beating Chelsea in the League Cup final.He added: “We could easily have spent more money on players. Who knows if that would have brought us more success or not.”The right approach is to build from the bottom up. There is no quick fix to becoming a much more significant global club.”Latest Tottenham newsHARRY ALL FOUR ITKane admits Spurs must win EIGHT games to rise into Champions League spotGossipALL GONE PETE TONGVertonghen wanted by host of Italian clubs as long Spurs spell nears endBELOW PARRSpurs suffer blow with Parrott to miss Prem restart after appendix operationPicturedSHIRT STORMNew Spurs 2020/21 home top leaked but angry fans slam silver design as ‘awful”STEP BY STEP’Jose fears for players’ welfare during restart as stars begin ‘pre-season’KAN’T HAVE THATVictor Osimhen keen on Spurs move but only if they sell Kane this summerYOU KAN DO ITKlinsmann quit Spurs to win trophies but says Kane’s better off stayingTURBULENT PAIRINGDrogba and Mido had mid-flight brawl after stewardess prank went wrongAnd the Spurs chief is also keen to make the new stadium the “Madison Square Garden in London” with sports, concerts and other events at the arena, just like the New York venue.Deals have already been arranged for two NFL matches there each year for a decade and an annual Saracens rugby union game for the next five years.Levy added: “Clearly if you have a stadium of this magnitude and quality, to only have 25 to 30 games a year being played by Tottenham Hotspur, it’s not making use of the capital we have invested.”2 The new Tottenham Hotspur Stadium cost around £1billion and they needed to borrow significantly to help finance the constructionCredit: PA:Press AssociationTottenham boss Pochettino reacts to Olympiakos draw in the Champions Leaguelast_img

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