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Spurs rise above rivals
The brand of football that is being delivered under Ange Postecoglou this season has undoubtedly quelled some of the anger that had been sent the way of Tottenham Hotspur chairman Daniel Levy in recent years. The fact that Spurs are one of the few clubs to be engaging in the market this month, with £26m spent on Genoa’s Radu Dragusin and a loan deal for RB Leipzig striker Timo Werner, which could turn into a £15m permanent deal if all works out as hoped, has hinted that the tide may be turning in Spurs’ favour.
Figures presented by football finance expert Swiss Ramble last year looked at the potential PSR position of each Premier League club, and just how much they could lose before being in breach of the regulations.
For some the margins were fine, but for Spurs, through a considered transfer strategy and the fact that much of the losses that the club has incurred can be attributed to the building of the £1bn new stadium, with such costs an allowable deduction when it comes to PSR, the picture was rather serene when compared to the rest of the League. Liverpool, a club that has a similarly cautious approach to spending and a strong balance sheet, also fared well.
Spurs emerged as the club with the best PSR position in the Premier League, with allowable losses of £276m, a figure aided by the fact that much of the losses attributed to the club can be linked to the building of the Tottenham Hotspur Stadium (THS), with stadium and infrastructure costs not factored in when it comes to PSR calculations. Liverpool were the next best with an allowable loss of £156m, with Manchester City next on the list at £139m.
Speaking to University of Cambridge students at the Cambridge Union in March last year, Levy said: “Debt isn’t really a problem for anyone that understands finance, providing you can match long-term income streams with long-term debt. As long as it is financed properly it isn't a problem.
“It is effectively a 30-year mortgage at a very low interest rate. It’s not a problem at all. When you are building a club and building long-term value there are a number of ingredients. One is profitability; some clubs are valued at a lot of money that aren’t profitable, therefore revenue becomes important. Physical assets, success on the pitch; there is no one asset, you need them all to come together.”
The lack of on-pitch success and perceived lack of investment in the playing squad has been a major bone of contention of Spurs fans when it comes to assessing Levy’s time as chairman. Of the ‘Big Six’, Spurs have operated on the fringes, flirting with the odd spot of glory before being hamstrung by a lack of consistency on the playing side. The tide may be about to turn, though, and there is little that some of their rivals can do about it.
Spurs have been getting their ducks in a row for quite some time. The new stadium, the extra revenue deals with the likes of the NFL and the Formula One Experience, as well as a rigid pay structure and lack of willingness to engage in paying inflated prices in the transfer market, all form part of a plan that is likely to see the club head into the next 10 years with one of the healthiest outlooks in the Premier League.
It looks like Spuds are leading the race to the bottom for the PL, where they spend relatively little on players so are unable to sustain title challenges, but are now happy to drag the rest of the League down with them for the "Net spend on the cheap" trophy aka PSR.
Not being willing to spend, Spuds are happy for the chasing pack in the Premier League being unable to spend to level up the playing field & challenge them for the coveted fifth Champions League spot.
It used to be the Italian League, then the Spanish League, now it's the Premier League which dominates European football. Which league stands to gain because the PL are prepared to slay the goose that laid their golden egg, as long as it hammers Manchester City, & stops the likes of Newcastle, Villa & Everton from joining the top five CL qualification challenge?
News is breaking that Newcastle maybe forced to sell Almiron, Wilson & Trippier by the end of the season, & are facing an austere summer transfer window, so as to avoid PSR sanctions like Everton.
Other reports are saying even this may not be enough, which is casting doubts on Newcastle's most saleable assets in Botman, Guimarães & Isak.
Newcastle could be pecked to the bone by their rivals as they try to avoid Everton's fate, & with PSR in play, not even being the richest club in the world can help them.
The Red Top Mafia & Spuds have finally done it. They're killing the dreams of other football fans, that they could win the lottery & become the next Manchester City or Newcastle.
It's now evident that you can have the richest owner in the world, but you can barely spend a penny of those riches to compete, just because the Red Top Mafia & Spuds don't think it's fair on them to be challenged.
Unless something is done to end this madness, the PL will be fucked. How long will the other 16 PL teams stand by & watch the destruction of the most competitive & richest league in the world, just because it suits the four founding members? ¯\_(⊙_ʖ⊙)_/¯
https://www.football.london/tottenh...iel-levy-masterplan-leaves-tottenham-28479054
