Kieran Maguire: Kane could hold key for Tottenham amid £4.4bn development
Tottenham are not likely to have to take advantage of a new Uefa credit facility – but the sale of Harry Kane could shore up their position.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the proposed £4.4billion lending scheme.
Bloomberg reported on 19 August that Uefa is planning the relief fund to help top European clubs amid the pandemic.
Tottenham took out a £175million loan from the Bank of England in June 2020 and later refinanced this through private placements.
Sources close to Kane told Football Insider in April that he is “hell bent” on leaving Spurs, and the striker has since gone public.
The England skipper, 28, is under contract in North London until 2024 and is the subject of intense interest from Man City.
Maguire claimed that his future could have a signficant bearing on Spurs’ long-term financial security.
“I think a lot will depend what happens with Harry Kane,” he told Football Insider corresponent Adam Williams,
“If they suddenly have another £150m in the bank account, it’s diffiuclt to see them needing to go for a bailout from Uefa.
“Spurs have significant debt but the debt has already been borrowed on low terms.
“I would expect them to be cash generative in future years. The new stadium is after all very much focused on premium pricing.“
“So I don’t think Spurs will need to go down this particular route. But they are a club that spends a lot of time poring over spreadsheets.“
In other news, pundit predicts that Tanguy Ndombele could now stay at Tottenham after Daniel Levy reveal.