Simon Jordan has moved to praise Tottenham Hotspur chairman Daniel Levy following a recent piece of news about the club.
It was reported earlier this month that Spurs had taken a £175 million loan to protect themselves against projected losses of £200 million over the next 12 months.
The global health crisis is wreaking havoc on many clubs around Europe but it’s particularly true of Tottenham, who moved into a new £1 billion stadium a little over a year ago.
In addition to that, it looks likely that Jose Mourinho’s side, who are seven points and four places behind fourth-placed Chelsea in the Premier League, will miss out on Champions League revenue for next season.
And former Crystal Palace owner Jordan has lavished praise on wily chairman, describing his latest move as ‘smart as paint’.
He told talkSPORT: “Tottenham have got various levels of borrowing financing that particular development, and what Daniel is doing is taking slices of borrowing and replacing some borrowing with different borrowing, and rebooting it in a more economic way.
“It’s as smart as paint what he’s doing. He’s basically saying if I’ve got a ticket out there for £500m at six per cent and I can borrow from the government with a 0.5 per cent interest rate, thank you very much I’ll take a slice of that.”
Spurs get their season back underway on Friday week with a visit of Manchester United.
If Tottenham drop points in that and Chelsea win away to Aston Villa on the Sunday then it’ll be ever so hard seeing the North Londoners finish in the top four.
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