Spurs £175mil Covid loan

[Arcland]

Where does the BoE get the extra 2% from to pay the interest?

In theory from the taxpayer. However, gilt rates are significantly lower than 2% and the fact that real interest rates are currently negative means that the taxpayer does not need to pay any extra as the payment is accounted for (eaten away) by inflation.

 

[Deleted User 11453]

In theory from the taxpayer. However, gilt rates are significantly lower than 2% and the fact that real interest rates are currently negative means that the taxpayer does not need to pay any extra as the payment is accounted for (eaten away) by inflation.

Thank you. Free money then?

 

[Father Jack Hackett]

It’s the Bank of England
Joe Lewis is worth billions isn’t he? And it’s a private company? Why are the tax payers funding them @EssexYid ?

Second richest man in the UK iirc

 

[Arcland]

Thank you. Free money then?

Kind of. It’s why Boris, after slating Corbyns spending plans was able to replicate them

 

[peil]

It’s the Bank of England
Joe Lewis is worth billions isn’t he? And it’s a private company? Why are the tax payers funding them @EssexYid ?

Facebook likes, 5k likes = £1k is the current exchange rate iirc

 

[Zweiguys]

Well Spurs are not owned by Joe Lewis alone, Daniel Levy owns about 30% and 15% of the club is still owned by our fans, Spurs are a UK club and pay income tax, £26m was paid out in tax for the last set of accounts if I remember correctly and that is without a much bigger contribution of tax that will have been paid out to the tax man by our players, so don’t worry the UK economy does very well from Spurs contributions to the tax man, taking into account that Spurs post large profits nearly every year.

There’s doing what’s legally allowed and then there’s doing what morally corrupt. The pot of money the owners drew from isn’t an infinite amount. There’s only so much to go around. Should have graciously declined so that others cloud keep their necks above water.

Boycott Ruth’s Chris trends as Shake Shack gives back PPP loan money

Update 4/25: Ruth’s Chris has agreed to give back the money after a federal announcement that those who misuse the funds will be invesitgated and after hundreds of thousands petitioned for th…

carloseats.com

 

[EssexYid]

There’s doing what’s legally allowed and then there’s doing what morally corrupt. The pot of money the owners drew from isn’t an infinite amount. There’s only so much to go around. Should have graciously declined so that others cloud keep their necks above water.

Boycott Ruth’s Chris trends as Shake Shack gives back PPP loan money

Update 4/25: Ruth’s Chris has agreed to give back the money after a federal announcement that those who misuse the funds will be invesitgated and after hundreds of thousands petitioned for th…

carloseats.com

Yet another “financial expert” giving us his enhanced wisdom on a subject that he actually knows Jack shit about in reality, just as many others have before on this thread, I would suggest that you and any others on here that have idiotically been digging Spurs out over this BOE Covid loan read the link below.

Basically it isn’t denying any small businesses or individuals from gaining financial help during the current crisis, this particular BOE Covid loan is solely for what it describes as large companies that have big annual revenues that also employ large amounts of staff, Tottenham Hotspur are small fry in comparison to many of the companies that have taken up this loan offer, M & S for example have a £10.2bn annual revenue, I guess all of those companies are fine though and won’t rile you lot up simply because they are not Tottenham Hotspur.

Department stores, a bakery and a football club claim BoE Covid cash

 

[chunkyshanhawk53]

Yet another “financial expert” giving us his enhanced wisdom on a subject that he actually knows Jack shit about in reality, just as many others have before on this thread, I would suggest that you and any others on here that have idiotically been digging Spurs out over this BOE Covid loan read the link below.

Basically it isn’t denying any small businesses or individuals from gaining financial help during the current crisis, this particular BOE Covid loan is solely for what it describes as large companies that have big annual revenues that also employ large amounts of staff, Tottenham Hotspur are small fry in comparison to many of the companies that have taken up this loan offer, M & S for example have a £10.2bn annual revenue, I guess all of those companies are fine though and won’t rile you lot up simply because they are not Tottenham Hotspur.

Department stores, a bakery and a football club claim BoE Covid cash

To be clear, I am a financial expert.

The difference is clear, M&S are not owned by a tax exile. It’s a private company. I said the same about Branson.

 

[chunksafc]

To be clear, I am a financial expert.

The difference is clear, M&S are not owned by a tax exile. It’s a private company. I said the same about Branson.

Dont bring common sense and facts to the argument, it will only confuse him

 

[daveybigpotatoes]

Yet another “financial expert” giving us his enhanced wisdom on a subject that he actually knows Jack shit about in reality, just as many others have before on this thread, I would suggest that you and any others on here that have idiotically been digging Spurs out over this BOE Covid loan read the link below.

Basically it isn’t denying any small businesses or individuals from gaining financial help during the current crisis, this particular BOE Covid loan is solely for what it describes as large companies that have big annual revenues that also employ large amounts of staff, Tottenham Hotspur are small fry in comparison to many of the companies that have taken up this loan offer, M & S for example have a £10.2bn annual revenue, I guess all of those companies are fine though and won’t rile you lot up simply because they are not Tottenham Hotspur.

Department stores, a bakery and a football club claim BoE Covid cash

Its smart financial management for sure. But anyone with an ounce of financial expertise can see it is taking the piss a bit. No one is having a dig at Spurs for being Spurs - replace the name with any other in the Premier League and it would still be taking the piss. This is effectively state support for a niche millionaire making machine, has relatively little benefit benefit to society, is only being used to decrease the overall cost of capital, and really isn't in the spirit of the very quickly drafted legislation.

 

[EssexYid]

To be clear, I am a financial expert.

The difference is clear, M&S are not owned by a tax exile. It’s a private company. I said the same about Branson.

Firstly Joe Lewis is only a part owner of Tottenham Hotspur, Joe Lewis and Daniel Levy own ENIC between them 70/30% split, ENIC are the majority owners of Spurs with shares of around 85% the other 15% is owned mostly by Spurs fans.

You claim to be a financial expert and that may well be the case, but the fact is Tottenham Hotspur are a UK registered company and they pay huge amounts of Tax compared to the vast majority of other football clubs £26m in the last year alone, that is before any Spurs players contributions towards tax from a £180m wage bill, maybe you should do a little bit more research in future before being so damming with your opinions, just as lots of others on this thread should as well.

How much for example do Sunderland contribute to the treasury in tax returns probably about £3.50 over the last 20 years or so in comparison to Spurs.

 

[chunkyshanhawk53]

Firstly Joe Lewis is only a part owner of Tottenham Hotspur, Joe Lewis and Daniel Levy own ENIC between them 70/30% split, ENIC are the majority owners of Spurs with shares of around 85% the other 15% is owned mostly by Spurs fans.

You claim to be a financial expert and that may well be the case, but the fact is Tottenham Hotspur are a UK registered company and they pay huge amounts of Tax compared to the vast majority of other football clubs £26m in the last year alone, that is before any Spurs players contributions towards tax from a £180m wage bill, maybe you should do a little bit more research in future before being so damming with your opinions, just as lots of others on this thread should as well.

How much for example do Sunderland contribute to the treasury in tax returns probably about £3.50 over the last 20 years or so in comparison to Spurs.

That’s absolutely irrelevant, they’re privately owned with the majority offshore

the Sunderland comment is even more irrelevant

 

[Lo Ursem]

Firstly Joe Lewis is only a part owner of Tottenham Hotspur, Joe Lewis and Daniel Levy own ENIC between them 70/30% split, ENIC are the majority owners of Spurs with shares of around 85% the other 15% is owned mostly by Spurs fans.

You claim to be a financial expert and that may well be the case, but the fact is Tottenham Hotspur are a UK registered company and they pay huge amounts of Tax compared to the vast majority of other football clubs £26m in the last year alone, that is before any Spurs players contributions towards tax from a £180m wage bill, maybe you should do a little bit more research in future before being so damming with your opinions, just as lots of others on this thread should as well.

How much for example do Sunderland contribute to the treasury in tax returns probably about £3.50 over the last 20 years or so in comparison to Spurs.

Spurs reported a record English football profit of £123,000 during their 1961 double season.
In 1964 as a second division club Sunderland became only the second other club in England to post a six figure profit - £107,000.
Times have certainly changed.