Not promising news

[sendorange]

A bit unusual for the club to put this on the webpage:
http://www.spurs.co.uk/article.asp?article=169290

Maybe the Telegraph are being a little quick to be pessimistic, but the initial reaction is certainly not encouraging:
http://sport.telegraph.co.uk/sport/main.jhtml?xml=/sport/2003/10/24/sfntot24.xml&sSheet=/sport/2003/10/24/ixfooty.html

Amid growing concern that Tottenham may have severe financial problems, the club yesterday announced to the Stock Exchange that Paul Viner, their financial director and company secretary, had left by mutual consent.

Spurs postponed the announcement of their yearly figures yesterday and put Andrew Fearn, their senior group financial controller, in charge of Viner's responsibilities.

[sendorange]

http://football.guardian.co.uk/News_Story/0,1563,1069950,00.html

This Guardian article makes things a bit clearer, so no "severe financial trouble" but certainly things look a bit sticky.

[sendorange]

Here's the Evening Standard, who are usually the most reliable as they have the local sources.
http://www.thisislondon.co.uk/sport/football/articles/7339344?source=Evening

Sounds to me like it's not a major issue, just that they still haven't sorted out that refinancing deal to give us a bit more bite in the transfer market and to cover our expenditure.

[Joe E]

I have a tendency to worry. can someone reassure me we're not about to become the next leeds...i don't understand anything about this kind of thing.

[sendorange]

I don't think we're in any danger of being the next Leeds, there's no mountain of debt. It's just that without the refinancing, we're pretty much going to have to sit tight on what we have, quite likely until the end of the season.

Levy's plan was to get this refinancing to give us some more financial muscle to help redevelop the training facilities and academy and of course to give us a boost in January with some more cash.