By Kevin Phillips

11th Jun, 2020 | 8:00pm

Kevin Phillips Exclusive: Spurs may sign Chelsea striker after big development

Kevin Phillips has tipped Tottenham to make a second attempt to sign Olivier Giroud this summer after the club announced they had taken out a £175million loan from from the Bank of England.

The former England international, speaking exclusively to Football Insider correspondent Dylan Childs, claimed Jose Mourinho needed to address four areas in the transfer market to make his squad capable of challenging for silverware next season.

A club statement confirmed that a £175million loan, repaid at 0.5% interest, would be taken out from the Bank of England to help combat the financial losses suffered as a result of the coronavirus pandemic.

The Lilywhites made a move for Giroud, who is under contract at Chelsea until June 2021, in January but Frank Lampard pulled the plug on a potential deal.

However, the Express claim Jose Mourinho remains interested in the France international who is available for £7million this summer.

When asked by Football Insider if the club could be seen to be spending after taking out such a substantial loan, Phillips said: “It is tough because it is a lot of money to borrow.

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“You wonder whether the funds are going to be given to Jose.

“I imagine will have to dip into the transfer market and wheel and deal.

“If Spurs want to challenge for any honours next year then there is three or four areas which really need to be addressed and that will cost money.

“It looks like Giroud is back on their list so that could be a possible. It would not be a bad price and he would be a good fit as a back-up striker.

“It will be interesting to see what comings and goings come at Tottenham.”

In other Tottenham news, former Lily-white is blown away by current senior ace he is told is first to do everything behind the scenes.