News with views from the No1 Spurs website

Saturday, 22 July 2017

This deserves a wider audience


My article on European TV money demonstrating the disparity between us and our top four rivals produced the following comment in answer to an initial comment. It deserves a wider audience.

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

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.


To simply pretend the things that matter and make the difference, don't matter as they don't fit a blinkered pre-determined agenda, is divorcing yourself from reality.

The football landscape has changed, the Premier League has been won every year by clubs with more money and therefore a higher wage bill than we have had at the time in every year since it's inception except the one extraordinary win for Leicester City.

FA Cup wins in PL era
Arsenal 8
Man U 5
Chelsea 6
Liverpool 2
Man City
Total 25 - 22 won by money

So the top two trophies in this country have produced just 47 winners from 50 attempts for clubs with substantially more money than we have, in other words, who have greater wage bills than we have or can afford. 47 out of 50.

If you can't see the correlation between the two then you, well, I don't think I need to say anything, it speaks for itself.

Without the business side though, the Leicester success wan'ts sustainable, which is what we are after.  Portsmouth now play in League Two, they were built on an unsustainable business model, Wigan are in League One because they overspent on wages and Everton have remained as a mid-table side.

Like it or not, business revenue pays player wages, entrance fees from fans don't. Business generated revenue is absolutely essential for success. fans shout about the amount of TV money etc, but we are not the only club getting it, everyone is so it isn't increasing our revenue to the levels of the teams we are competing against, a fact totally overlooked it seems.

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.

Football does not drive revenue, being a marketing platform drives revenue and you have to drive revenue before you take the football to the level we all want to take it to. Yes it is frustrating, but you don't gamble by throwing money into football that your revenues can not sustain if you don't qualify for the top tier competition in Europe.

Spend and keep your fingers crossed is the route to sending this club backwards, sorry folks, much as you would like it, that isn't the way forward. Buying players is more about wages than a transfer fee, the whole package over 5 years has to be taken into account, a £100,000 wage is £26 million over 5 years, add to that the transfer fee.

You have to have the guaranteed additional income in your wages budget to cover it and if you are buying more than one then you need a higher earner leaving perhaps to free up the wages budget. It needs to remain at a sustainable level against income.

It is no surprise that the teams with the 6 biggest wages budgets in Europe win the UEFA Champions League every season.

But heh, let's ignore all this and complain!

Trending at THBN - No1 Spurs Website
Perhaps Aurier is not the problem he is painted as
Will PSG sell Aurier to Spurs to raise cash for Sanchez?

Previously from THBN - No1 Spurs Website
Transfer Talk: Suso and Pizzi
Pochettino: I have a very good relationship with Daniel Levy
Transfer Talk: Moussa Sissoko
Goddard, Foyth, Mahrez News
Wages dictating Spurs transfer window



  1. Let me ask a really simple question Clive that I must be missing the obvious somewhere.
    If we work on a net zero spend over the last 5 years, other than wages and the cost of running the busines , where has all the revenue gone ?
    Are you trying to say we spend exactly what we bring in on players wages alone ?
    This I find very difficult to believe.
    Ps I like the way our club is run but i'm struggling to to see where has the money gone , we should have millions in the bank.

    1. That is being used up on our facilities and other things.

    2. You have mentioned a zero net spend, I haven't, nor have Spurs so the question.

      Players all had wage increases last season, they were all tied to new ;long term contracts and they will continue to be updated each season. We spend a percentage ratio of our income on wages to the level UEFA suggest is good management. That ratio will remain, what's the issue with that?
      land acquisition, new training ground, new stadium, new medical facilities, etc. All expenditure of a multi million pound business increases year upon year.
      the transfer budget is an annual thing and is worked out by the amount of instalment payment we receive or pay out. Actual transfer figures are meaningless, just paper numbers. We have sold 4 players but we haven't actually received £80m only 80m over the period of each players new contract. Our transfer spend was in deficit for 6/7 years until 2014 when we received more instalments than we paid out.

      it isn't a question that a simple answer can be given to.

    3. If The 0 net spend is our transfers in and out, over the last 5 years. I thought you quoted above unless again i'm miss understanding the example and of cousre I'm aware we have a new training ground and are building the stadium but it doesn't seem to add up with the amount of income we have received. As we have lending in place the stadium it's not going there other than to service the loans.
      With a 0 % transfer equation over 5 years we should be laughing with stacks of cash !

    4. Sorry this was wrote by SP SP , not you Clive . My apologies Clive

  2. I'd love to be an ebay seller when one of these moaning 'pay the money Levy' Spurs fans wanted be purchase something i had for sale. Presumably they'd apply the same logic as they think Levy should use when negotiating for players. Think of the money we could all make selling to these geniuses.

  3. I'd like to think that some of it has gone towards that shiny new stadium 😉. Great writing as always, Clive. I always look forward to your pieces as they represent realistic, balanced optimism and not cynical pessimism masquerading as critical observation or 'the right to complain'

    1. I try to write for the brighter audience like yourself.

  4. Yet another self-justificational idiot who's Stockholm Syndrome'd himself into believing the spin Daniel Levy has pushed out. We're a FOOTBALL TEAM. Yes we're also a business, but the reality is ( aside from one horrific Sissoko signing) Spurs are the only EPL to turn a profit over the last 6 years. That's great, if you win championship / cups with frugality. If your aspirations are at the highest level, you need to SPEND like that accordingly.

    Every single one of European football's elite SPENDS like they're elite. Why? Because you need to speculate to accumulate. No-one is saying Spurs need to increase their wage bill 100% or throw around £150M. But this team's revenue stream has jumped hundreds of percent in the last ten years. It's about time that revenue was pushed back into the team. It's time we spent like Chelsea, instead of like Southampton.

    You apologists make me sick. You seem to forget that Daniel Levy owns about 25% of this team. He's motivated to increase his asset base ( squad, stadium, business ties) while minimizing debt. Because from the first day he became Chairman, his eyes were on selling this team to make a profit.

    Our payroll was around £120M before we sold Walker, the top 5 above us are around £200-300M. If you think adding a world class player at £250K a week would break our 'structure' or the bank, then you're an idiot. Our failure to spend is entirely on Levy's personal greed. This team deserves BETTER.

    1. And our revenue compared to those top five AROUND us was???????

  5. I think the author of THBN works on the old adage "bullshit baffles brains", well it doesn't, so try harder.

  6. There is more to all this than meets the eye.
    For one the other teams want to stop us. We need to add some players, but if we go for certian top players the likes of Chelsea will bully us by offering more money to them.
    These clubs just buy players or are throwing big money around to stop their decline but we have a stable first TEAM.
    We don't need to add quickly this time and can wait it out somewhat as the other clubs cannot buy everybody and we will get the right few players in as and when is possible.

    1. Without the need for spending for the sake. Perhaps their top targets have not moved yet and these situations are ongoing. Barkley is the main one obviously and we will only pay what he is worth with one year. We have to wait to get that done obviously but if someone else wants to pay over the odds just to stop us, then let them.

    2. There are plenty of players in the world. Nobody had heard of Lemar before last season but now we MUST pay big for him.
      I trust the club to get it right as they ultimately have over the Levy's time by being in the position they are in.
      Some fans are like this: When we were bottom we MUST get out the relegation zone. When we were 17th we MUST get in the top half. When we were 8th we MUST get into Europe. When we were 5th we MUST get into the top 4. When we have back to back top fours and punch above our weight, we now MUST win the title and do whatever to achieve that.
      Not possible for us to do that now financially, but perhaps the long term is not going to be about unsustainable spending, but actually having to be secure in that regard.

  7. what frustrates me more is the terrible recruitment. Sissoko, n'koudou, n'jie, jannsen.... and that is only in the last 2 years. We dont spend enough money and when we do, it is usually on rubbish like nobby soldado

    1. Pe Alli, or Alderweireld, or LLoris, or Vertonghen, or Christian Eriksen, or Wanyama, or Dier, shall I go on?

    2. I think that you know that you have missed the point here.

  8. hear hear, glad to see some fans woth common sense. A remarkable accomplishment by Levy and Poch. Something to applaud. The Spurs has a very similar vibe to the young Manchester United team when Alex Ferguson first took over. This is a time to enjoy this great football team of ours, I for one am counting my blessings and enjoying these past two years. Can't wait for this season to start.



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