When Mauricio Pochettino was at the peak of his powers in North London, Tottenham were often spoken of as a model club. With a new stadium on the way, a young and vibrant side tied down to long-term deals, and low-cost signings turning into sensational high-value assets. Throw in some academy graduates, too, and it was easy to see why Spurs had such an exciting future. Since the defeat in Madrid in the 2019 UEFA Champions League Final, though, the club has endured a slow but significant slide back the way. Champions League qualification is now the challenge again, as opposed to competing for the title itself.
And for Spurs fans, the news of a massive debt pile that is growing to be among the largest in the Premier League might cause concern. With the clubs notoriously cost-effective front office, too, it is likely that Spurs will need to either make the Champions League or start considering long-term cost-cutting measures. In the midst of trying to agree on new deals with key players like Son Heung-Min, this could prove a huge challenge.
Indeed, analysis from experts like football finance expert Kieran Maguire leaves a worrying sign for the future to consider. Otherwise known as Swiss Ramble, Maguire has become an authority figure on analysing the reality of football finance. And his latest utterings on the Spurs situation make for some pretty terrifying reads.
What do the numbers say about Spurs and the future?
The numbers say a lot – the club is currently expected to be in total debt of a staggering £1.77billion. This would put them comfortably at the top of the debt pile, exceeding next-placed by Barcelona who sits at around £1.04billion in debt. The vast majority of the debt, of course, relates to their new 62,303-seater stadium, the Tottenham Hotspur Stadium. It’s a massive investment and is seen as one of the most impressive venues in the world. At a long-term cost of £1.2billion, though, it could become a noose around the club’s neck long-term.
Through sponsorship deals and agreements with other competitions, including the NFL, paint a picture that the stadium could pay for itself, it is going to be a long-term process to pay back all of that money. As it stands, then, Spurs fans might want to shelve any hopes and dreams of big-name signings rocking up to North London wearing white.
The club is also likely to find that a loss of revenue associated with having no fans present and also having no UCL revenue could begin to really bite. With coach Jose Mourinho among the highest-paid in the league and one of the highest wage bills for a squad of now-experienced veterans, turning around a profit is going to become a major challenge for Spurs.
At the moment, the future looks bright on the pitch in many ways. Without sustained success, though, can a club that has not to win a trophy since 2008 really overcome the crippling costs associated with their massive debt?
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