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Friday, 21 July 2017

Lack of European TV money holding Spurs back


Chasing the spending of Chelsea, Arsenal, Manchester United, Manchester City or Liverpool is a recipe for disaster. It would put our stable club at risk of overstretching itself at a time when we have the massive expense of building a new stadium.

Our expenditure, as usual, has to be generated from sales and we have made sales to invest in future purchases, but we don't have the wages budget to just got out and buy ready made stars. If we overstretch ourselves by relying on UEFA Champions League income and we don't qualify for the tournament, then we reduce our income, which places us in financial danger.

The following screenshot from The Swiss Ramble, an excellent bog on the finances of football shows the problem we have, just with European TV money. The figures are in euros.

Arsenal as we know, have a £100 million greater income than we do, Chelsea, Manchester City and Manchester United even more. Liverpool have something like £60 million greater income annually. Until we close those gaps we can't pay their wages, with all the knock-on effects that has. You have to be clueless not to see that.

The off-field battle has to be won before the on-field battle can be won, it's why we are building a new stadium and have the goal of joining the elite, a goal the anti-Levy folk on Twitter scoff at and suggest we shouldn't have those aims or be trying to accomplish them. In other words they don't want us to grow and be in a position to win trophies regularly.

There is plenty of them suggesting a marquee signing, which we can't afford, to make a statement, when, in truth, these things mean absolutely nothing, or we hear now is the time to show ambition. However, our financial situation doesn't allow the type of ambition these people are asking for. the reality is, we have to continue with our current strategy, which is clearly being successful in improving us.

It has served us well and these are not the only set of players who can perform to the level they are. If some move on and have to be replaced, so be it, the cub is bigger than any player, what we have to do is prepare and have players like Kieran Trippier who can simply step into a pair of shoes with minimal, if any, reduction in quality.

People need to chill and stop panicking.

Trending at THBN - No1 Spurs Website
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Previously from THBN - No1 Spurs Website
Juventus NOT signing Spurs striker target Schick
Sissoko fee not an issue
Spurs game boosting MLS franchise application
Neymar, Barkley and the US Tour Squad
New Dele valuation miles adrift
Barkley terms agreed



  1. Great article! Its stating the obvious, however its needed as there are a few spurs fans with blinkers on. COYS

    1. They would still just ignore it. It doesn't matter how many times these things are explained.

      The club is run by the revenues generated by the club - all clubs should be. How Lewis and Levy could be siphoning off huge sums of cash while improving the club drastically on zero net spend is beyond me. It is ludicrous that anyone does. There are five teams that have higher revenues than us, but we have finished lower than fifth once in the last eight seasons. We are regularly outperforming teams with much higher revenues than us. The wage policy is as suggested by UEFA even down to the percentages. Our rivals are not. They earn more revenues than us and then pay a much higher percentage of those revenues in wages. Liverpool's percentages are horrible - I don't know (or maybe don't want to know) how they sustain then. The only one of our rivals to adhere to a similar wage policy is Arsenal. And all certain of our fellow Spurs fans do is join in the media generated witch-hunt against Levy for being financially responsible.

      You always get the same thing with them - if only he spent a little more to get deals done earlier, if only he accepted a little less to get rid of players sooner. Okay, I always ask them, we operate on zero net spend, we do this, and, hypothetically, we buy five players and sell five players every season (not wholly unrealistic). That means we've paid five million more in buying players to get deals done quicker, and accepted five million less to sell players quicker. That is £10 million over net spend, or in other words £10 million in debt. After five years operating like this we are £50 million in debt. After ten years £100 million in debt. Are you happy with that? The only answer you'll get is effective off! 😂

      We just have to be glad Daniel Levy is thick skinned and we have a manager who holds a degree in economics.


  2. Thanks for this. It really clarifies the temporary problem we have. Thanks to Mr Levy (best Chairman in football) and Pochettino (one of the great managers) our long term future is secure.
    By the way, does anyone know how to remove a contributor from "Newsnow". A certain ignoramous is getting on my nerve. Can't believe anyone actually reads him!

    1. Click on the contributor name and a mini menu will appear with the option to 'hide publication' which will work for all that contributor's postings but....close your browser and that contributor will reappear.
      Maybe setting up an account with NewsNow will allow a
      permanent suppression?

  3. That graph will soon need to be restructured. Woolwich won't be getting anywhere near that amount being in the Europa league.

  4. An absolute nonsense of an article.In order to gain revenue from our european exploits we have to compete in it.Similarly in domestic cups,apart from our semi final defeat we simply do not stay in the competition long enough to get any benefit from it.We need strength in the squad,we need to give our regular players cover when they are injured,tired or simply out of form.We need a blend of youth and experience through out the squad ,not a megastar(s) who will disrupt the fabric of the team.We have entered a new competition this season in which we can give young players a more serious challenge.We have achieved so much in getting into Europe we must develop a squad that can compete in it,progress and eventually gain the financial rewards necessary to reap the ultimate rewards.Finally,every supporter of Spurs is entitled to a view (provided it falls within the rules),and should be treated with respect.

    1. I have to agree with the article not this post. Were you by any chance in charge at Leeds United when O'Deary was manager. We are building the sort of strong foundations that Arsenal worked towards. It takes time, patience and determination. So far, so good. Yes you are entitled to your opinions, which are rational, but some fans certainly justify being labeled "clueless".

  5. This is all true and I do totally agree, however it is this time next year which is a real concern for me and as if we dont make the CL there is a real danger that our best players will 'Walker out' on us. We should not go crazy like the others, but I fear if we dont show 'any' ambition in this window, the danger of an exodus next year increases significantly. Should spend the Walker, Fazio, Nge wonga plus a now modest 20 million on a couple of real quality proven young players with sell on value to establish our position and show our existing players our intent. If we sell on Sissoko, or Wimmer may not need a positive net spend.

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  7. Another shockìng article from the absolute nobody that writes this blog. Our current strategy is serving us well?? Yes, the signings of Sissoko, N'Jie, Nkoudou, Janssen (among others) were all huge successes...i'm so glad our strategy is serving us so well! Poch has made some very astute signings in defence and the middle of the park at reasonable prices, however, in attacking midfield and upfront he is clueless and needs help. He cannot afford to get it wrong again. You DON'T need to go and spend £50m on one player to do it successfully. Improve your scouting network. Dortmund, Monaco, Porto etc are great examples of this...

    1. A bit late there son!, didnt he just do exactly that, change his scouts!!! I guess you stating the obvious too... LOL

    2. You clearly haven't read the articles saying we need to improve our scouting network!!!

  8. As I have stated before Levy needs to think passed the £ and stop diluting the squad to fund the stadium.

  9. Laugh? I almost wet myself. Incredible how nothing on this planet is ever enic's fault. I swear if levy was found with a smoking gun over Poch's body you would say it was actually a bald clone of levy wearing a condom and planted there by uefa.

    1. Thanks for your intellect, we could win a treble and you'd still complain



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