Tottenham just repaid a loan that could pave the way for Sonny’s new contract

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Man, it’s been a day, hasn’t it? I feel like we need some good news that doesn’t suck up everyone’s lives, right? Fortunately we have some!

Jack Pitt-Brooke wrote a brief news item in Athletic (£) today which is shameless good news – Tottenham Hotspur is a little less in debt (a bit – we’ll get to that) and now have some extra cash that could lead to Son Heung-Min who finally extends his contract with Spurs!

How is that good news?

Here’s the version from Cliff’s Notes: Tottenham had already taken out a £ 175million loan from the Bank of England to make ends meet at the end of the COVID-19 pandemic shutdown, as they obviously weren’t pulling no income from matches. The loan itself was low interest and Spurs were able to create the cash flow to pay it off recently by restructuring its existing debt into long-term stocks, saving the club around £ 250million. sterling. Of course, this is essentially an accounting trick, but it has allowed the club to get rid of more of that debt when the pandemic restrictions ease and they have (presumably) much more. income to come.

So what is the club going to do with this extra money? Why, finally find out about Sonny’s contract! Pitt-Brooke writes that the club will likely use some of this windfall after paying off the loan to extend Sonny’s deal, which has been in the works for months. And I think we can all agree that if anyone deserves a new contract and get paid a mint to stay in this garbage fire without a club manager, it’s Son Heung-Min.

So Spurs have (a little) a little less debt, and Sonny is about to be extremely happy. Sounds like a win-win to me! Make it happen, Tottenham.


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