Tottenham face financial difficulty

Yesterday it was announced that Tottenham had failed to secure naming rights for their new stadium.

Whilst calling their ground the Tottenham Stadium is more pure than the FedEx Arena, the lack of naming rights will push them into a financial melt down.

The stadium is already well over budget. It will cost nearly £1bn, with a couple of hundred million pounds worth of hotels and housing developments already cancelled to keep costs down.

The stadium is also set to be delivered at least 3 months late, the project has been a disaster. Were it a new hotel, supermarket or block of flats the investors would probably have ghosted the project a year ago and looked to sell out on to another party, such are the spiralling costs and delays.

The naming rights were key to the financing of the project.

When Arsenal signed their first deal with Emirates, a lot of the money was front loaded, to the extreme point that Arsenal got very little money from the airline in the last few years of the original deal.

The front loading of both the Emirates naming deal and Nike sponsorship allowed Arsenal to balance the books when loan repayments were at their highest.

Spurs had hoped for a 10 year £150m naming deal. Like the Arsenal deal, it would not be £15m a year over 10 years, but a heavily front loaded deal with Spurs receiving the majority of the money in the first 5 years.

That first 5 years is most important.

Tottenham took out loans with 3 separate banks. Each approved five-year loans worth a total of £400m. After five years the outstanding debt can be refinanced or put into longer-term bonds.

In the first 5 year repayments will be at their most aggressive until the club can refinance. As we saw with Arsenal, after 5 years (2011), we were able to renegotiate the terms of our loans – reducing payments dramatically.

In that first 5 years, Spurs are going to have to find in the region of £50m a year to repay the loan. They would have hoped that a naming deal front loaded for the first 5 years would have serviced a lot of the debt. No naming deal leaves them with £100m+ extra to find in the next 24 months.

Spurs are also yet to sell out their season long hospitality packages.

From memory, when Arsenal sold their hospitality boxes for the Emirates, you had to sign up to a 10 year deal. This freed up more money to pay off loans as it meant even more guaranteed income. Empty boxes will further push Spurs into financial difficulty.

You then have the NFL deal.

A lot of Spurs fans go on about the NFL deal like it is the golden egg.

The deal was reported as 10-year agreement between Tottenham and the NFL starting in 2018. Spurs to host 2 games a year.

To bring things into perspective, Wembley’s profit from the NFL games there is between £500,000 and £1 million per game. So without even considering that the Spurs stadium is 2/3’s of the size, Spurs will expect to bring in around £1-£2million for hosting the NFL.

It is understood that the Spurs deal with the NFL is not actually a straight 10-year deal. There have been mixed reports as to whether it is a 2-year deal with an option for a further 8, or a 4-year deal with a further 6-years.

Daniel Levy’s “end game” with the NFL was clearly for Spurs to host a London based franchise, so that from September – February, they could have football one weekend, NFL the next.

The entire NFL deal is in doubt with Wembley set to be sold to Jacksonville Jaguars owner Shad Khan.

It has been Khan’s long term dream to move the Jaguars to England – they have played at least one game at Wembley since 2013. If he does buy Wembley, a London franchise kill off any long-term deal for Spurs.

Spurs will also fail to attract future external income from concerts.

With Wembley, Twickenham, the Olympic Stadium, the 02, Emirates Stadium and Hyde Park, London is currently overly saturated for stadium arenas.

Arsenal have not hosted a concert since the Muse / Green Day double header in 2013 Muse. Since 2016, we have seen a huge rise in artists performing at the Olympic Stadium.

This summer along we have seen the Rolling Stones, Beyonce & Jay Z and the Foo Fighters host 6 nights at the London Stadium. Why would you perform elsewhere when iconic stadiums like Wembley, Twickenham and the London Stadium are available?

No artist will want to travel to Edmonton, with its lack of transport links and facilities for a gig.

Tottenham have bitten off more than they can chew with the new ground. Once they realise the fan base isn’t their to buy 62,000 tickets in the long-term, it will push the club further into obscurity.

Keenos

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64 thoughts on “Tottenham face financial difficulty

  1. Ricky smith

    I spy a bitter gooner concentrate on your own shower of shit of a club pal your on west hams level ffs yet you keep mentioning spurs its ridiculous not 1 of your team gets in spurs first 11

    Reply
    1. Rob

      Fuck off Ricky, come back when youce won something you piece of shit. We’ve won more in 5 years than you have in 30. Fuck off Blackburn have been more successful than you prick

      Reply
      1. Rob

        Yep very adult and very true. No Arsenal fan is jealous of zero league titles in 60 years, so get in there boys keep up the hard work

      2. Ant

        Am not an Arsenal fan, but this article fills me with hope. Tottenham are a pointless club who have done nothing more than exist for too long. No major trophy since 1991, (27 years to the uneducated) yet they call themselves a big club? Leicester, Wigan, Portsmouth – all won a major trophy since them.
        And no, the league cup doesn’t count.

      1. Rob

        And you wanted to go to Stratford?? How does that work then, you lose even at being a gippo

  2. Stephen

    You do realise there are care workers out there to help you during your days. This is the biggest load of dollip tripe I have read on the internet… EVER.

    Reply
  3. Caspurs

    Ha ha, nice try. Perhaps you should concentrate on writing kids stories, as you clearly have a furtive imagination, and absolutely no grasp of reality. If you want to write an informative factual piece, I suggest you should enlist the help of an adult?

    Reply
  4. DVC

    I should go and sit in a dark room. You might even be able to make up a lot more rubbish. Still as a gooner we all understand you need help.

    Reply
  5. Gary

    Ha ha I sense more than a bit of jealousy that Spurs will have a proper football stadium rather than the monstrosity of The Olympic Stadium.

    A deal could have been done ages ago if we had taken the first offer come our way. Levy has shrewdly decided to wait until the stadium opens so potential sponsors will see how good it is and pay a premium. It shows we have faith in the product.

    Also, Missing out on what could well just be a few months of a 15 year deal will be a small price to pay if he can even get an extra 250k a year by waiting for the best deal

    Reply
  6. David

    Gooner pish again because your new stadium is a toilet the jealousy coming out of the Woolwich gippos is growing and growing read the facts before posting garbage like this ( oops forgot most of you can’t read or talk the queens English in it Fam

    The money was there before the project started we never took out 400 mill loans

    Mugs

    Reply
    1. Rob

      Yeah jealous of our trophy cabinet and transforming English football. Truly gutted mate. You like English so much read a history book

      Reply
  7. George Graham (Spuds' most successful manager of the last 20 years)

    How about the Spud trolls rebut the points made by the author instead of the usual (but to be expected, to be fair) insults and ‘our stadium’s bigger than yours’ tripe? Fix up, Spud bloodclaats.

    Reply
      1. Rob

        Doesn’t matter I’ve seen success ar my club. That’ll live with me forever. You lot are chasing dreams

  8. foreverinourshadows

    The desperation of the Tiny Totts who will have a toilet bowl looking stadium with no silverware to grace it, unless the NFL achieves that, your so called up and coming team has done sweet FA, your players next season when you win fuck all again will suddenly wake up and search elsewhere, does Kane really want to stay with a club that will win nothing, no one is that loyal, so enjoy your CL football as it will not last and remember form is temporary and class is permanent. Now go back to your marshes and stay in the shadows

    Reply
  9. Ricky smith

    Sorry rob im busy tuesdays and wednesdays i can do thuradays oh right u cant cos u watching that shower of shit at the home ground that gets invaded on a regs ie koln chelsea you guys are pathetic

    Reply
    1. Rob

      I’ll be pathetic watching arsenal in finals and winning trophies with our worst team in 20 years pal. Whilst your posting comments about a stadium and wacking off over dele allis sex tape

      Reply
      1. Ricky smith

        Lol what trophies you winning with this squad mayb a league cup u deluded fuckknuckle lol

      2. Ricky smith

        You will be crying in to your gin n tonic while your home end gets invaded by rival fans probably while dressed as wheres wally most pathetic club n fans in the league lol

  10. Sergio Pericleous

    Excuse me are you the harbinger of disastrous outlook or a crypto Arsenal supporter on diplomatic steroids….you think Levy wouldve gone into these investments without x2 or x3 checking every detail…and signing key players on extended contracts. Youve killed the project b4 its even started.

    Reply
  11. Pingback: Tottenham face financial difficulty - TACTICS FC

  12. Keenosthecunt

    Poor old arsenal can’t even fill a stadium the size of the Emirates won’t even release official attendance and do it on tickets sold to hide the embarrassment 😂😂

    Reply
  13. Ray

    What evidence and facts do you have to support you’re assumptions? What experience do you have in the financial sector and what qualifications do you have to justify you’re article. It seems to me that you’ve simply cut and pasted various bits of previous articles to piece together your diatribe. Stop referring to arsenal and the problems they faced and in future stick to matters that concern that club.

    Reply
  14. Thenry

    Lol @ all the spuds cunts giving it large
    Infact the author didn’t go far enough in his financial details IMO
    The main point being the loan covenants, they will kick in this year hence no summer spending by the spuds. They will have a minimum amount each year on transfers other than what they sell to buy.
    As for the rest spuds twats should realise you have won 2 trophies in 35 years both being league cup lol
    You have a manager who has never won a trophy so suits your club perfectly
    Who wants a bet that arsenal are back in the top 4 this year ?
    All your players are bottlers they don’t have a winning mentality just
    Like your manager
    Come back and talk when you actually win a trophy

    Reply
    1. Pynert

      If a fly bothers you, you don’t try to reason with it, you just flick the thing away. Arguing with the Middlesex swamp flids is very similar. Don’t waste your time, their limited IQ will not be able to cope with a reasonable discussion. This is mainly due to the hereditary brain damaged caused by generations of inbreeding.

      Reply
  15. Dixta

    3 flights 2 boats and an uber..the joys of following big club afc in the thursday night challenge cup last season. Oh and this one as well 🛫🛫🛬🚣‍♂️🚣‍♀️🚕

    Reply
      1. Dixta

        Done plenty since ’92 ECWC thanks. Seriously saying ropey league 6pm thurs night is better than a CL game? What are you on?

  16. Timmy rathbone

    Keeno why are you concerning yourself with spurs’ financial situation? Are you worried by the fact arsenal have finished behind them for the last 2 seasons?
    No spurs fan is going to deny that arsenal have been more successful than them on the pitch over the last 25-30 years but football runs in cycle, spurs were better than arsenal in the 50s and 60s, arsenal were better in the 70s, spurs were better in the 80’s. So fucking what?
    But for you to suggest that spurs are risking financial ruin is laughable. Do you think Daniel levy and enic have just jumped into this half baked, this new stadium has been planned over the last 10-15 years, they’ll know the risks and the debt involved and that’ll be accounted for. That’s why joe Lewis is a multi billionaire and your not, you don’t see him on here flapping about money and explaining the breakdown of every penny with cheap rhetoric? Jews are born with the talent of making money, enic know what they’re doing or it just wouldn’t of happened to begin with.
    As for the naming rights it’s not a big deal in the short term, spurs will of had scores of offers in the last 2-3 years but they’re rightly biding they’re time and waiting for the offer that suits them.
    Stop worrying about wat spurs are doing, what will be will be. Just concentrate on your own club, dropping out of that big 6 would be more concerning if I was a gooner. Good luck for the new season

    Reply
    1. El Coño Grande

      You lost all credibility with, ‘… Jews are born with the talent of making money… ‘ oh, and Joe Louis is such a successful billionaire but he pays phuq all to HMRC. Phuqqing spud mug; enjoy your khazi seat stadium and the bottlers who let the country down in the WC.

      Reply
    2. Lux

      How was spurs more successful we won the league on Merseyside !!! How was you more successful than that?
      The only thing I would say to all of the Arsenal fans on here
      Stop commenting on all and anything that the spuds do
      We are Arsenal
      And will always be better than them don’t lower your standards to there level
      Just ask anyone were would you rather live Tottenham or Islington!!!!
      Say no more

      Reply
  17. Rick

    Do your homework… the stations and extra lines and extra trains on game days are well advertised… If the Emirates was built and sponsored so perfect why did you lot go through years and years of abusing your board and manager for not spending on players?
    And if Spurs are a pointless club because of lack of success over PL years what does that make the Majority of clubs?
    FOREVER N17
    FOREVER TOTTENHAM
    We ain’t no Pikeys…

    Reply
  18. Bill

    – hotels and housing development phase hasn’t been cancelled
    – stadium phase of the build is 350-400m with the overall cost of the project including hotels/housing being the headline figure of 850m
    – we haven’t failed to secure a naming rights deal, negotiations are on going and will be multi-faceted encompasing the football/NFL and music uses of the stadium – possibly seperate deals for each
    – stadium has been designed with concerts/non sporting events heavily in mind from the beginning and thus will be preferable to the competition in London you list, not sure transport is an issue here as Jay Z and Beyonce won’t be getting the 149 up the high road.

    Other than that though, spot on…

    Reply
  19. Archie

    You only have to look at arsenal fan tv to see what a typical gooner is all about!! There on the Fringes of society. Nothing but loners, nonces & peados

    Reply
    1. Lux

      Tottenham is full of inbreds just look at the place
      How many spuds actually live in that dump
      Trophyless inbred retards

      Reply

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