Tottenham asks for a credit of 200 million euros to survive the coronavirus

The coronavirus crisis seriously threatens to economically hit the world of football and today has been Tottenham who has acknowledged that he has requested a credit of 200 million euros from the Bank of England in order to get ahead. The money, which must be returned in April next year at 0.5% interest -although it can be extended for another twelve months-, will serve to sustain the structure of the club, and in theory it will not be used to shore up the team of Jose Mourinho.

“We have always managed this club in a way that could support itself from a commercial point of view. On March 18 I already said that, in the 20 years I have been in the club, I had had to face many difficulties, but none of the magnitude of the COVID-19 pandemic, “ explained the president of the entity, Daniel Levy, through a statement. “It is imperative that we all work together – scientists, engineers, the government and representatives of public events – to find a way to recover our spectators in the stands. As a group we have the ability to support the development of new technologies that make it possible and to experience, once again, the passion of our hobby ”.

The Covid Business Financing Line (CCFF) was launched by the Government to support those companies that, despite having a good financial structure, were going to face difficulties in continuing with their activity. The airline EasyJet and the department store Marks & Spencers have benefited from it, among others, but the criteria are so strict that according to the British press, only Tottenham and Manchester United could request it within the world of football.

In fact, the Tottenham, which arrives economically weighed down by the construction of the New White Hart Lane, has already had to take advantage of, despite the fact that it initially rejected, the government aid program to pay the salaries of the personnel that he does not wear boots to jump onto the pitch. This grant covers, at this time and possibly until the end of the year, a monthly salary of up to 3,000 euros. Even so, according to Forbes magazine, the spurs are the eighth largest team on the planet in terms of economic power, since last year they recorded revenues of nearly 500 million euros and almost 75 million profit.