TBR Football

Thomas Frank is about to make his first mistake at Tottenham, he’s just approved the wrong £60m deal

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Thomas Frank is about to make his first mistake at Tottenham, he’s just approved the wrong £60m deal - TBR Football
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New Tottenham Hotspur manager Thomas Frank will soon get to work in N17, assessing the squad he’s inheriting from Ange Postecoglou.

Despite Spurs’ Europa League win under Postecoglou, many Tottenham fans believe that the squad’s talent wasn’t being utilised to its full potential.

Of course, that’s something Thomas Frank will need to prove — his first task will be improving the players he’s already got in north London.

And fortunately for Spurs fans, Frank did an exceptional job of doing exactly that at Brentford.

But Daniel Levy will also make life easier for Frank by trying to add one or two stand-out talents during the transfer window — when the likes of Johan Lange will be working tirelessly.

Eberechi Eze would be a much better signing than Mohammed Kudus

That being said, Tottenham are interested in signing Mohammed Kudus from West Ham United this summer, a deal that is beginning to gather pace.

In fact, Frank has just approved a move for Kudus, meaning there’s a real possibility that the Ghana international could become a Spurs player.

However, Tottenham might be making a mistake if Kudus is being signed instead of Eberechi Eze this summer.

For a long time, Spurs have been interested in Eze and a lot of fans in N17 probably believed that the Crystal Palace player would one day wear their club colours.

However, Spurs now look to be edging towards Kudus having cooled their interest in Eze — and from the outside looking in, the club’s logic is hard to follow.

Kudus does have a lot of talent, but Eze is the standout attacking midfielder who is somewhat available in the Premier League this summer.

Mohammed Kudus isn’t a huge upgrade for Thomas Frank

If Tottenham sign Kudus, he will predominantly come in to compete with Brennan Johnson in a right wing role, even if he is versatile across most attacking positions.

However, if Eze arrived in north London, he’d be an immediate and undisputed starter in a number 10 or eight role, perhaps replacing James Maddison.

Eze would immediately improve Tottenham’s starting eleven, whereas Kudus might prove similar to Johnson, Mathys Tel and even Maddison in a lot of ways.

Kudus is a supremely talented player but after a strong first season for West Ham, he was quite inconsistent last term — something that could never be said of Eze.

Eze is ready to leave Palace this summer, and it’s not very often that a player of his quality is available.

In fact, Tottenham can even pay Eze’s release clause in installments, and it is really hard to understand why Frank’s new side have suddenly lost interest.

And given his eye for talent, the Danish manager should already be demanding that Spurs change course in the transfer market — Eze is worth the hassle.

Eze will cost around £60m this summer, and it seems as if a similar fee might also be enough to tempt West Ham to sell Kudus.

But as things stand, Spurs will potentially be sending their bid to the wrong London rival.

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Jermain Defoe shares what Daniel Levy text him right after Tottenham won the Europa League

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Jermain Defoe shares what Daniel Levy text him right after Tottenham won the Europa League - TBR Football
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Tottenham Hotspur had a terrible season last time around, but they capped it off in some style.

Indeed, Tottenham won their first trophy in 17 years with a Europa League triumph in Bilbao.

Brennan Johnson was the man of the hour after his winning goal vs Manchester United, while Ange Postecoglou will go down in history for delivering the first piece of silverware to Tottenham’s new stadium.

Daniel Levy didn’t take much credit, but, like it or not, he has had a big part to play here.

Speaking on Open Goal, Jermain Defoe has been discussing the Tottenham chairman, and he shared an interesting exchange he had with Levy after the Europa League final.

Jermain Defoe shares Daniel Levy text exchange

Defoe shared the message he received from Levy after Spurs won the Europa League.

Defoe has often defended Levy from criticism, and he remains close with the Tottenham chairman.

According to the former striker, Levy text him to say how much the win meant to him after the match.

“Do you know what it is with Daniel. People don’t know Daniel. He has this sort of perception. Daniel is a proper businessman. I know people have opinions, but if you want to go into business and run a club, who would you look at? The best training ground, the best in class, the best coaches in the academy, the best stadium, he’s managed to do that,” Defoe said.

“Now that Tottenham have won a trophy, it meant so much to him, I messaged him before the game and he said to me that ‘this means so much to me, he said this means so much to me and the football club,’ and you saw some clips afterwards and you could see afterwards he was buzzing.”

Jermain Defoe is excited for Thomas Frank’s arrival

Levy was over the moon after winning the Europa League, but that happiness soon faded as he made the difficult decision to sack Ange Postecoglou.

Postecoglou went from hero to zero at Tottenham as he went from lifting a major trophy to the unemployment line almost overnight.

Thomas Frank has replaced Postecoglou, and Defoe has already got behind the manager.

“I spent a day with him last season, I went to Brentford with Justin Cochrane, who is the coach. I spent a day, just to watch training and how they did things there, and it was amazing. I was so impressed,” Defoe said.

When asked if Frank would be a good fit for Tottenham, he said: “Unbelievable! Unbelievable man, unbelievable coach. For all the Tottenham fans listening, you’ve got a top manager there.”

Tottenham may have had a disappointing campaign last time around, but it could well be onwards and upwards from here after their Europa League win.

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Tottenham fans convinced ‘unbelievable’ player could instantly become a vital player under Thomas Frank

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Tottenham fans convinced 'unbelievable' player could instantly become a vital player under Thomas Frank - TBR Football
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Plenty of Tottenham Hotspur players are set for clean slates under Thomas Frank during pre-season training.

In the next few weeks, Spurs players are due to arrive back at Hotspur Way to begin preparation for next season, in which Thomas Frank will be assessing his new squad.

The 2025/26 campaign is set to be a big one for the North London club as they return to the Champions League, along with the hope of improving on last term’s 17th-place finish.

Spurs supporters have now been discussing one player who could suddenly benefit from the arrival of Frank and play a key role next term.

Tottenham fans think Pape Matar Sarr could become key under Thomas Frank

Tottenham Hotspur fans actually think that Pape Matar Sarr could become a key player under Frank next season and he hasn’t yet shown his full potential.

The midfielder played a pivotal role in the Europa League final for Spurs as he played the ball in which Brennan Johnson eventually turned home to win 1-0.

Last pre-season, Ange Postecoglou called Sarr ‘unbelievable’, although the youngster struggled to break into his plans on a regular basis.

The 22-year-old still managed to play 55 times last term, but was often in and out of the starting line-up, and there is a sense he can still improve so much.

Spurs fans share that sentiment and have taken to X to share their views on the young Senegalese international.

One fan said: “So much potential with this lad under Frank. Has the engine to run for days. The fact that Ange never coached him was criminal. He will be so pivotal for when we play a 3-5-2.”

Another claimed: “Did it with Johnson at his lowest point and he won us the UEFA Europa League. Invest in Sarr, this man is going to be phenomenal next season.”

There was yet more praise for Sarr: “Think he is gonna shine under Frank in the double pivot role. We have so many options now with Bergvall, Gray, Bentancur and Maddison.”

Finally, another supporter added: “There’s no reason Archie Gray and Pape Sarr can’t become the mystical ‘proper’ midfielder everyone keeps talking about. They are extremely high-ceiling players and anyone who thinks the club is dropping significant money on a player to block their development is insane.”

Tottenham still need to sign another midfielder this summer

Regardless of the role that Sarr could play, Tottenham still need to sign another midfielder this summer.

Spurs need a holding midfielder who can add some real steel to the middle of the park for the Lilywhites, which was certainly missed last term.

Frank’s system means that his midfield set up could change a fair bit, with a double pivot used at times, or that could change to a three at times.

Therefore, plenty of options in the middle are needed, but with Yves Bissouma potentially leaving Tottenham, the signing of a number six could be key.

Lucas Bergvall is likely to be the first name on the teamsheet next season, and it will be about finding him a partner who is happy to sit and do the dirty work.

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Tottenham are now starting to worry that Chelsea could try to sign £60m player

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Tottenham are now starting to worry that Chelsea could try to sign £60m player - TBR Football
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Tottenham Hotspur are staring at a very important summer transfer window ahead of them.

After finishing 17th in the Premier League last season, Spurs need to seriously improve, and that means that new signings have to arrive.

Luckily, help is on the way, Kota Takai is set to join Tottenham, while Spurs are also interested in Mohammed Kudus.

However, as always, things aren’t that simple for Tottenham.

Indeed, while Spurs want to sign Kudus, they’re not the only interested party, and according to Dean Jones, writing on the Ranks FC Ultras Patreon page, Spurs are starting to worry about the prospect of Chelsea coming in for Kudus.

Tottenham worried Chelsea will move for Mohammed Kudus

According to Jones, Spurs are accelerating talks in their move for Kudus, but they are concerned that Chelsea could make a move.

Christopher Nkunku could leave Chelsea, while Arsenal want Noni Madueke, so therefore, there could soon be space in the attacking roster for a player like Kudus, something Spurs are particularly wary of.

Kudus has been valued at £60m lately, so this would be another big-money move for the Blues.

“Tottenham are pushing to move talks forward for Mohammed Kudus this week, with growing concern inside the club that Chelsea could make another move for the West Ham attacker,” Jones wrote.

“There is an expectation that Chelsea will make space in their squad, with Noni Madueke available for transfer and Christopher Nkunku also being lined up for a quick exit. Nicolas Jackson may follow if the right offer arrives.

“Spurs believe two attacking departures at Chelsea could open the door for them to pursue Kudus again. They remain wary, knowing contact between Chelsea and West Ham last month has not been fully closed off.”

Chelsea’s past transfer hijacks

If there’s one team you don’t want threatening to hijack one of your players it’s Chelsea.

Indeed, over the years the Blues have become the kings of the transfer hijack, and Spurs know all too well what can happen in these cases.

Tottenham were set to sign Willian back in 2013 before Chelsea swooped, while the Blues pinched Mykhaylo Mudryk from Arsenal in 2023.

On top of that, Liverpool bid for Moises Caicedo in 2023, but Chelsea stole that deal too at the last minute.

Kudus could be another example of this phenomenon, and Tottenham are starting to get worried here.

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‘Spectacular’ teenager has just committed his future to Tottenham, ‘top clubs enquired’ to sign him

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'Spectacular' teenager has just committed his future to Tottenham, 'top clubs enquired' to sign him - TBR Football
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One of Tottenham Hotspur’s top youngsters has just committed his future to the North London club in a major boost for the Lilywhites.

Tottenham Hotspur have produced some great young players over recent times, including Harry Kane, Ryan Mason, Danny Rose and Andros Townsend.

It was three teenage talents from their academy, in Mikey Moore, Dane Scarlett and Damola Ajayi, who came off the bench to score against Elfborg, helping them reach the round of 16 in the Europa League.

There is now another serious teenage talent coming through their ranks, and he has just committed his short-term future to the club.

Luca Williams-Barnett signs new Tottenham deal

Luca Williams-Barnett has signed a new deal with Tottenham, with the North London club securing the future of one of the best U-16 talents in the country, according to The Secret Scout.

The 16-year-old had several ‘top clubs’ ask about signing him, however, the player and his family had no interest in leaving this summer.

Williams-Barnett will have just seen the likes of Moore and Callum Olusesi secure Europa League winners’ medals, showing a pathway into the first team.

Frank should look at Williams-Barnett during pre-season, as the youngster featured on the bench for Ange Postecoglou’s team last term.

The teenager was allowed to travel with the first team for Europa League matches against Galatasaray, AS Roma and Rangers.

Last term, Williams-Barnett, who’s excited Tottenham fans, was playing for the club’s U-18s team, and his goal-scoring record was quite remarkable.

Despite playing two years up, the attacking midfielder netted 20 goals in 23 matches, along with getting a further 12 assists.

The midfielder’s versatility to play as a number ten, a centre-forward and out wide is another reason why he is so highly rated.

Tottenham have very high hopes for Luca Williams-Barnett

Williams-Barnett, who’s been called ‘spectacular’, has been at the North London club for several years now and the club have high hopes for him, according to Alasdair Gold.

Spurs look at him as an academy player they hope can eventually break into the first team at the Tottenham Hotspur Stadium.

The North London club are very proud of him as a young player, and it will be interesting to see Frank’s plans for him this summer.

Gold told his YouTube channel: “I’m interested to see whether Luca Williams-Barnett gets a little chance in pre-season to show Thomas Frank what he can do.

“He’s, putting a finer point on it, a potential top talent within the academy, he’s one they look at with a great deal of pride and hope that he’s going to become something special for Spurs.”

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£84m player ‘really wants’ to join Tottenham, but Premier League rivals could try to hijack deal

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£84m player ‘really wants’ to join Tottenham, but Premier League rivals could try to hijack deal - TBR Football
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One of Thomas Frank’s top transfer targets is now more than open to a move to North London, TBR Football understands.

Tottenham Hotspur are looking to step up their transfer moves following what has been a quiet start to the summer window.

Mathys Tel’s move being made permanent is the only new addition at this stage, but talks are ongoing to secure one of Frank’s key targets.

With pre-season just around the corner, Spurs will be eager to ensure that the Danish head coach has at least one new addition to his squad.

Mohammed Kudus is very keen on Tottenham transfer

TBR Football chief correspondent Graeme Bailey has been told that Mohammed Kudus would really like to join Tottenham this summer.

The 24-year-old has been keen to stay in the Premier League, and he appears to have plenty of interest from English clubs.

Arsenal held talks for Kudus. Meanwhile, TBR Football understands that Chelsea have had swap offers already rejected by West Ham United. The Blues remain keen on the player.

But at this stage, Tottenham have held the most advanced Kudus talks, and the North London club are pushing hard to bring him to N17.

Crucially, the player is open to the move and sees it as a ‘great opportunity’, although he would likely think the same about most top six clubs.

Spurs are not concerned by interest from the Blues, and Levy is in contact with David Sullivan about a transfer for the Ghanaian.

West Ham must sell Kudus to fund their own moves in the transfer window, as they hope to bolster Graham Potter’s squad.

The Hammers want around £60 million for the attacker, despite him having a £84 million release clause at the London Stadium. The East Londoners are open to selling to whichever club pays their asking price.

Mohammed Kudus could be superb under Thomas Frank’s guidance

Frank could be just the coach to help Kudus’ career get back on track following what was a disappointing campaign for the forward.

Last term, he netted just five goals and managed four assists, which is quite a drop-off from the 2023/24 season, when he got 28 goal contributions in total.

The former Brentford manager worked his magic to help improve players like Ollie Watkins, Ivan Toney, Bryan Mbeumo and Yoanne Wissa.

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‘Significant progress’ could be made for Tottenham’s £60m player to be sold this week

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‘Significant progress’ could be made for Tottenham’s £60m player to be sold this week - TBR Football
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Tottenham Hotspur could be about to lose one of their top players shortly, with talks ongoing over a deal.

Thomas Frank will soon start welcoming his new squad back to Hotspur Way as Tottenham Hotspur’s players return for pre-season.

The 51-year-old will be hoping that all his key players will be back at the training centre in the coming weeks, and there are no surprise departures.

But, in the case of one of his key men, ‘significant progress’ could be about to happen this week in terms of him leaving the club, which would be a major blow.

Atletico Madrid tipped to make ‘significant progress’ to sign Cristian Romero

Atletico Madrid could well make ‘significant progress’ to sign Cristian Romero this week, Diario AS are reporting.

The Spanish newspaper claims that Rojiblancos are prepared to go ‘all out’ to bring the 27-year-old to the Metropolitano this summer.

Romero is seen as a ‘cornerstone’ of Atletico Madrid’s project, and as already made clear, he is a player whom Diego Simeone has requested.

Simeone keeps contacting Romero about a move, and the Spanish giants are now desperate to satisfy the Argentine’s desire to sign him.

Atletico are willing to pay £47 million fixed and another £13 million in add-ons to sign the defender, while Spurs are asking for £60 million.

TBR Football confirmed earlier this week that Atletico offered around £55 million for Romero, with Daniel Levy holding out for about £5 million more.

Levy won’t sell Romero for cheap and has made it clear to the Spaniards that he is willing to make the Argentine Tottenham’s best-paid player.

Thomas Frank wants to build around Romero, therefore, losing such an important player so early on would be a major blow for the Danish head coach.

Luka Vuskovic could be ready-made Cristian Romero replacement

Luka Vuskovic became a Tottenham player as of July 1, with the youngster finally joining the club, two years on from his transfer.

Tottenham signed Vuskovic for £12m back in 2023 and beat strong competition from clubs like Manchester City to land him.

The 18-year-old is one of the most talented young defenders in Europe and already has a vast amount of experience despite his young age.

The Croatian international has made 61 senior appearances at club level and has already made his debut for the national team.

Tottenham are excited by Vuskovic’s potential, given his impressive performances on loan at Westerlo in the Belgian Pro League last season.

The defender showed he is more than just a centre-back as he netted seven times for the Belgian club, thanks to his impressive aerial ability.

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Tottenham are desperate to deliver ‘superstar’ talent for Thomas Frank, the player is ‘open’ to move

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Tottenham are desperate to deliver 'superstar' talent for Thomas Frank, the player is 'open' to move - TBR Football
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Tottenham Hotspur are currently working on making a marquee addition for Thomas Frank.

The North London club have been rather quiet in the transfer window up until this point, with Mathys Tel signing permanently as their only new addition.

But with Frank now a few weeks into the job and pre-season just around the corner, the Lilywhites are working to ensure he has new signings to work with.

Spurs have identified one player in particular whom they would love to give to their new head coach, and ‘serious work’ is going into a deal.

Tottenham think Mohammed Kudus would be an ‘excellent’ signing

Tottenham Hotspur want to deliver Mohammed Kudus for their new manager, Thomas Frank, and believe he would be an ‘excellent’ addition, according to Fabrizio Romano.

Frank likes Kudus and has already approved Spurs’ move to lure him away from the London Stadium this summer.

The North London club are now working hard to get a deal done for the 24-year-old, with talks ongoing with the player and West Ham United.

Kudus, who’s been called a ‘superstar’, is open to making the switch across London, as the Lilywhites continue their push to bring him in.

Romano told his YouTube channel: “Tottenham are seriously working for Mohammed Kudus, conversations are ongoing, and the player is open to making a move to Tottenham.

“Tottenham want to give the player to Thomas Frank. Tottenham believe Kudus will be an excellent addition for his summer transfer window.”

Chelsea remain in the race for Mohammed Kudus

The worry that remains for Tottenham is that Chelsea also want Kudus, and the Blues are still in the hunt to sign him, despite their deals for Joao Pedro and Jamie Gittens.

As already revealed by TBR Football, the Blues had swap offers rejected by the Hammers earlier in the window, for players like Robert Sanchez, Kiernan Dewsbury-Hall and others.

“As I told you, Chelsea also remain interested in the player and there is one more club keeping a close eye on the situation, so the race remains open, but Tottenham are pushing,” Romano added.

Arsenal target Noni Madueke is a player who could depart Stamford Bridge this summer and make room for the potential arrival of Kudus.

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Daniel Levy prepared to make £70m star Tottenham’s highest earner, warning issued to interested club

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TBR Football understands that Daniel Levy is ready to make one of Tottenham Hotspur’s top players the best-paid player in N17.

Tottenham Hotspur are keen to keep hold of their best players this summer to avoid disappointing their new manager, Thomas Frank.

Frank has made it clear to the North London club that he wants to keep the player who is subject to strong interest from another team.

However, Levy is ready to intervene in the situation and is sending a strong warning out, which could deter the interested club from making a move.

Daniel Levy wants £70m to sell Cristian Romero

Daniel Levy is eager to keep Cristian Romero at Tottenham and has placed a £70m price tag on the defender, sources have told TBR Football chief correspondent Graeme Bailey.

The Spurs chairman has warned Atletico Madrid he is prepared to make Romero Tottenham’s best-paid player, showing just how highly rated he is at the North London club.

Levy has accepted the fact that the 27-year-old could well leave, as his heart appears to be set on a move to the Spanish capital.

Bailey told TBR Football: “Daniel Levy, as we said this week, is accepting that Romero might leave, but he won’t allow him to leave for cheap.

“He’s telling Atletico he’s prepared to make Romero the highest-paid player at the football club. That’s evidence of how highly he rates him.”

Should Romero push to leave and Spurs decide to sell, then Levy’s £70m asking price is unlikely to be matched.

A deal being done for around £60m would be more likely, as Atletico are currently offering £55m for Romero.

“So that’s where Levy is pushing back. I think he’s looking for £70m. He’s not going to get that. Will he get £60m? I think that might be the key figure. Atletico are about £55m,” added Bailey.

“But Levy is emphasising to them just how highly he rates the player. Levy, as we know, will keep a player if you don’t offer what he wants.

“Atletico think they know the value of the defender and Diego Simeone is pushing massively for him, thinking we’ll get him.”

Tottenham’s plans to replace Cristian Romero

The North London club will push to sign another top defender should Romero’s move to Atletico eventually materialise.

But even if they were to lose the World Cup winner, their defensive options mean they are already well equipped for life without him.

Luka Vuskovic became a Tottenham player on July 1, two years on from the young Croatian signing from Hajduk Split for around £12 million.

Meanwhile, Kevin Danso is highly rated by Tottenham, and there’s a sense he could become a starter at the Tottenham Hotspur Stadium next term.

Bailey added: “Kevin Danso, they like him an awful lot, but they will sign someone else if Romero goes.

“Currently, they have (Kota) Takai, (Ashley) Phillips, Vuskovic, Danso, (Micky) Van de Ven, and (Radu) Dragusin, who could leave Tottenham. I wouldn’t rule out Dragusin going back to Italy at some point.

Three options include Crystal Palace defender Marc Guehi, although he is expected to leave next summer instead, Ousmane Diomande from Sporting CP and Benfica’s Antonio Silva.

“Spurs still like Guehi, but I think he will move on a free next summer, if I’m being honest,” Bailey continued.

“Do we see Tottenham getting involved in a situation like the one for Ousmane Diomande, something like that? Yes, I wouldn’t rule that out at all. Antonio Silva, you know, I think we will see something like that for them.”

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Group that met Daniel Levy over Tottenham takeover just had a £550m Premier League deal approved

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Group that met Daniel Levy over Tottenham takeover just had a £550m Premier League deal approved - TBR Football
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Tottenham have been for sale for a long time – far longer than since last April, when Daniel Levy first announced he was seeking external investment in the club.

Privately, ENIC have said for years that they would consider selling a portion of their stakes at the right price. No wonder, really, when so much of their wealth is wrapped up in Tottenham.

In a tale as old as time, Daniel Levy’s asking price for Spurs is said to be a sticking point. But there has been genuine interest in the North Londoners, some of it public, some of it under wraps.

Via her PCP Capital Partners investment group, former Newcastle United director Amanda Staveley was said to be exploring a £500m minority stake in the club. It has been almost a year since that story first broke, however, and there has been little in the way of updates since.

Earlier, the private equity firm MSP Sports Capital was linked. They conducted due diligence on Spurs with a view to a full takeover, but nothing materialised. Similarly, another U.S. investment firm, Liberty Media, has also been loosely linked. Again, though, no dice.

Crystal Palace shareholder David Blitzer is another name mentioned in football finance circles, though he would need to first divest his stake in the Premier League club he already co-owns. But given that John Textor will soon be out the way, the prolific sports investor may now be in no hurry to leave Selhurst Park.

One name that has never gone away is Qatar Sports Investments (QSI), the sovereign wealth-backed fund fronted by Paris Saint-Germain and beIN Sports supremo Nasser Al-Khelaiffi.

Al-Khelaifi has met with Levy for investment talks a few years ago, though both parties have always denied the substance of the meeting. If they were ever to pitch up in North London, it would be an extraordinarily complex deal because of their involvement with PSG.

And as a new development highlights, another layer could complicate the would-be investment.

Could QSI’s interest in Tottenham be a conflict of interest at Premier League level?

In Ligue 1, Al-Khelaifi is the dominant presence at shareholder meetings because of both his link with PSG and his position as the president of one of the league’s biggest broadcasters, beIN.

In fact, in the absence of DAZN, who recently cancelled their partnership with Ligue 1, beIN are the league’s only domestic broadcaster.

BeIN are also a major partner of the Premier League and recently struck a new £550m deal to air the competition in the Middle East and North Africa.

If QSI took over Spurs or bought into the club on a minority basis, could their links to the broadcaster be considered a conflict of interest? Probably not – but the government blocked BSkyB’s proposed takeover of Manchester United in 1998 because the Sky Sports connection was deemed too deep. In the modern era, Aston Villa are co-owned by the private equity firm Atairos, who are funded by Comcast, who own Sky.

“We’ve got the same situation with PSG,” says University of Liverpool football finance lecturer Kieran Maguire, speaking exclusively to TRB Football.

“With the broadening of portfolio interests we’re seeing today, and with sport – football in particular – now viewed as part of the entertainment industry, it makes sense that whoever is broadcasting that entertainment would want a closer relationship with it. You can see the logic from BeIN’s point of view: having both a content producer (the club) and a content distributor (the broadcaster) under the same umbrella.”

When will the Spurs takeover or minority investment actually happen?

As well as the price issue, there are several factors said to be holding up the potential sale of Tottenham – some of them coming from the buy side, others from the sell side.

Among those is the fact that the lenders that supplied Spurs with the loans for their new stadium have change-of-control clauses that would allow them to renegotiate at a higher rate if there is a takeover. For Spurs, that would likely mean paying much higher interest, as Levy secured such a sweet deal the first time around. Simply put, the deal might be too good to walk away from.

On the flip side, several sets of talks are said to have collapsed over confusion over who would actually run the club after the deal is complete.

Multiple reports have suggested that Levy would demand a management contract to continue acting as chairman in the event of a full or partial sale. So what is in it exactly for a new partner, especially if it is a minority deal with limited control?

The club also has 30,000 minority shareholders who may need to be bought out in the event of a full takeover. If QSI are interested, it seems likely they would want 100 per cent control.

So, there are myriad factors that suggest that a deal is not close.

Even when a suitable partner is found, the machinations of the deal itself will likely take several months to play out, with both in-house and external checks demanding a lot of time.

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