Wednesday, June 29, 2022
Bitdefender WW

Spurs default loan payment while Arsenal go forth clearing debt despite losses

- Advertisement -

Tottenham Hotspur were due to repay a taxpayer-backed loan worth £175 million this month, but will reportedly default the payment according to the Daily Mail. The loan was taken from the Bank of England, under their Covid Corporate Financing Facility, and has now been rolled over. 

The money taken was not for transfers, but Spurs have still gone on and spent £75 million on transfers and also have to pay Real Madrid loanee Gareth Bale’s wages. The loan was due in March, with an interest of 0.5% and will have to wait till next year to be settled. 

113592929spursstadium saracens

The London whites have reported losses worth £200 million, and although owner Joe Lewis is worth £3.6 billion, the club will have to bear the weight of debt for another year. The decision to delay the repayment was made right before they decided to join the European Super League, which has been scrapped since. 


When you take into account the fact that Spurs will have a percentage of their income withheld by UEFA, the pressures only rise on the financial end.


In contrast, their North London rivals, Arsenal, took out a similar loan worth £120 million and will be paying it off this month. That is despite them reporting losses worth £47.8 million back in March. They are currently slap bang in the middle of the table, and dropped out of the Europa League against Villareal in the semi finals as well. Both these factors will heavily impact their finances going forward. 

- Advertisement -
Arsh Das
Arsh Das
A music enthusiast, also passionate about football and bringing you the latest in the sporting world every day.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Bitdefender WW

More To Consider

Stay Connected

Myntra [CPS] IN

Hot Topics


Latest Articles


Bigrock [CPS] IN


Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add to your ad blocking whitelist or disable your adblocking software.