TBR Football

Daniel Levy is potentially one of the most divisive figures in football, but there is no denying that the Tottenham chairman and co-owner knows how to run a business.

The ENIC Group, whose former owner Joe Lewis has now divested his stake in the club following his conviction for insider trading last year, paid less than £50m for an 86 per cent stake in the 2000s.

Levy, now the top ENIC representative at Spurs, owns around 30 per of the club. His stake is now worth 75 times what it was worth two decades.

As part of the clubs search for strategic investment to strengthen its capital base, Spurs valued themselves at £3.75bn.

Strategic investment is likely to take the form of a minority buy-in, but a full takeover at that price would make Spurs the most expensive football team in history.

Some analysts have balked at the valuation, but the mere fact that Levy and his peers in the boardroom believe they can justify that valuation is testament to how far they have come.

And the latest data illustrates one of Levy’s key tactics when it comes to creating value.

Tottenham among the clubs least reliant on TV cash

The Premier League’s TV deal is worth more than £10bn over its current rights cycle and, relative to country size, is the biggest sports broadcasting agreement in the world.

Around half of that figure comes from the domestic rights, while the remaining half – and the one that makes the Premier League far more successful than its competitions – comes from overseas.

Spurs earned £228m in commercial income over the course of the last financial year and have been one of the most successful clubs at monetising their international fanbase.

However, while some clubs are almost solely reliant on the broadcast deal as their main source of income, Spurs have one of the most diversified revenue bases in the Premier League.

According to Sports Business Institute Barcelona, Tottenham are second only to Man United in terms of their lack of dependence on the TV deal.

The North London club earned £204m in media income in 2022-23, the last financial year on record. That was 37 per cent of their turnover.

For context, Bournemouth got 87 per cent of their revenue from the TV deal, while the so-called Big Six’s percentage ranged from 44 per cent (Chelsea) to 32 per cent (Man United.

What groups or individuals might invest in Spurs?

A diversified revenue base is all well and good, but what profile would take a minority stake in Spurs without being guaranteed significant operational power?

Speaking to TBR Football earlier this summer, Liverpool University football finance lecturer Kieran Maguire said Daniel Levy is likely to stay as CEO whatever the outcome of the Spurs talks.

It seems likely that a private equity firm, such as Raine Group or Carlyle who wanted to invest in Man United before Sir Jim Ratcliffe beat them to it, is the best bet.

These groups are prepared to wait a long, long time before they get a return on their investment.

Tottenham’s move to the new stadium in 2019 is widely viewed as the single most transformative event in the club’s history, but the club appear to have missed the mark in one particular area.

Spurs now expected to generate over £100m in matchday income each and every season at the Tottenham Hotspur Stadium, while concerts and NFL rental fees significant increase the venue’s value.

What’s more, Spurs recently received permission to almost double the number of non-football events they can hold annually.

The 62,850-seater stadium is a money-printing machine and played a huge part in Spurs’ commercial income of £228m over the last financial year.

And while Daniel Levy and his ENIC colleagues continue to want Tottenham to fund themselves, the revenue generated is absolutely central to Ange Postecoglou‘s recruitment budget.

But there is currently a conspicuous absence from the department whose chief responsibility is to raise commercial revenue to facilitate improvement on the pitch.

Todd Kline still yet to formally leave Tottenham despite official announcement in February

When Spurs took residence in their new stadium, much was made of the possibility of stadium naming rights and how lucrative they could be for the club.

When he was appointed as chief commercial officer and board member in 2021, Todd Kline said his number one priority was to secure a naming rights deal.

Reports suggested that the club was looking for a partnership worth £150m to £250m over the next decade.

However, those aspirations appear to have been a touch misguided as five years into the Tottenham Hotspur Stadium the club still does not have a deal.

In February, Spurs announced that Kline had left the club in a cursory statement that subsequent reports claimed may have said something about the manner of his departure.

It has since emerged that Kline will join Todd Boehly and Clearlake Capital’s Chelsea.

But six months on, Spurs are yet to announce Kline’s successor, while Chelsea have not announced that Kline has formally joined the club.

In the first update in months, The Telegraph have reported that Kline is still seeing out his notice period at Chelsea and is expected to join the club soon.

After that juncture, Spurs will presumably announce their new chief commercial officer.

How much are Spurs stadium naming rights really worth?

Naming rights are historically an American phenomenon that has gathered a head of steam within British sport in recent years.

In rugby, the Twickenham Stadium has recently signed a £100m, 10-year deal with German finance firm Allianz, who also sponsor Bayern Munich’s stadium and were previous in talks with West Ham.

That will have given some comfort to Spurs fans, who have been told by some analysts that the value of their rights has declined markedly since 2019.

The pressure on Ange Postecoglou’s job will ramp up during his second season in charge.

Having lost Harry Kane just weeks after his Spurs appointment, Ange Postecoglou earned himself a lot of admirers by leading Tottenham to a fifth-placed finish last season.

His energetic and gung-ho style of play was welcomed warmly by fans who previously had to put up with the bore-fest football played by Jose Mourinho and Antonio Conte.

Now heading into his second season, the expectation at Tottenham will be for Postecoglou’s side to improve and compete for a top-four finish.

If Postecoglou wasn’t already feeling the pressure, he certainly will be now after his side surrendered a lead and took just one point from their opening game against Leicester City.

Tottenham transfer figures add to Postecoglou pressure

After an impressive first season as manager, the hierarchy at Spurs have reached into their pockets to back Postecoglou this summer.

Tottenham have made five new signings, including a headline £65million deal for Dominic Solanke.

Solanke, Archie Gray and Lucas Bergvall all featured in Tottenham’s draw against Leicester, and it is now Postecoglou’s job to make sure he gets the most out of his new arrivals.

According to Sky Sports, Tottenham have the highest net spend of any Premier League side this summer at £104million – joint with Manchester United.

Tottenham’s club chiefs will be expecting a return on their investment this summer or else fingers will be pointed in Postecoglou’s direction.

Tottenham can have no excuses

There can be no complaints about any other side’s spending if Tottenham top the net spend charts when the window slams shut at the end of August.

Tottenham’s spending this summer may not yet be over too, with Spurs preparing a £27m bid for Vanderson as they look to strengthen at right-back.

Ultimately, there is nowhere to hide for Postecoglou this season. He is under huge pressure to get Spurs ticking and he must begin with their upcoming clash against Everton.

Although he didn’t score against Leicester City during his Tottenham Hotspur debut, Dominic Solanke impressed on the whole at the King Power.

Ange Postecoglou decided to start his big-money signing immediately, and Solanke did appear to fit seamlessly into Spurs’ forward line.

Solanke wasn’t able to take one of his chances, but he did demonstrate all that he can offer to Postecoglou as a spearhead of his team.

The England striker was full of industry and determination – not deterred by any early misses in the game.

Perhaps the only concern attached to his debut may be Son Heung-min’s struggles out on the left-wing, who was unable to affect the game.

Tottenham were reportedly very keen to get Son back out wide, but the inside forward wasn’t too effective in the role on this occasion.

That being said, when speaking via Tottenham’s website, Solanke was very impressed with two other Spurs players making their full debut on Monday as well.

Dominic Solanke praises Tottenham pair Archie Gray and Lucas Bergvall after debuts

Although both Archie Gray and Lucas Bergvall have featured heavily throughout pre-season, Monday evening represented their first competitive minutes in a Spurs shirt.

The pair entered the game in the 78th minute alongside Timo Werner and Dejan Kulusevski, tasked with revitalising a dwindling performance.

And in fairness, both enjoyed some tidy moments, proving their confidence on the ball and what they can offer Postecoglou long-term.

Solanke shared that excitement when speaking after the game, saying he was looking forward to playing alongside the pair going forward.

Solanke said: “They’re top players. I think they had a great pre-season from what I saw. Obviously I have been with them for a week now and they are great talents.

“There is great talent throughout the whole team so I am looking forward to playing with them for the rest of the season.”

Of course, Tottenham will now be looking to deliver their first three points of the season against Everton on Saturday, hoping both Gray and Bergvall can contribute again.

Tottenham Hotspur fans had to wait a little longer for their Premier League campaign to get under way, compared to most of the other clubs’ supporters.

Spurs were handed the Monday night slot as they took on newly-promoted Leicester City at the King Power Stadium.

Tottenham began brightly, dominating the Foxes on their own turf and breaking the the deadlock in the 29th minute of the match.

James Maddison curled in a cross for Pedro Porro to ghost through and head home a deserved opener for Spurs.

It was one-way traffic for most of the first half, but Tottenham couldn’t capitalise on their dominance, and they were duly made to pay.

Not long before the hour mark, Abdul Fatawu floated the ball to Spurs’ back post, where the unmarked Jamie Vardy was on hand to nod home with ease.

Gary Neville delivers positive verdict on Tottenham debutant Dominic Solanke

Despite the disappointing result, there were positives for Tottenham, not least Dominic Solanke’s debut display.

Spurs broke their transfer record to bring the England international to the Tottenham Hotspur Stadium from Bournemouth in August.

Solanke’s movement, pressing and hold-up play were impressive, and he tested the Leicester keeper with a number of chances.

Although the 26-year-old couldn’t mark his debut with a goal, Sky Sports pundit Gary Neville was still pleased with how the player did.

Indeed, the pundit had some words of advice for the Spurs newcomer on Sky Sports’ Monday Night Football.

“I think he will feel like everything went as well it could have done apart from the fact the most important thing, that just there [the header],” he said.

“The goal, I hope he doesn’t take it to heart to much. His pressing is really important to Spurs and why they have signed him.”

Neville continued: “My view on Solanke is that this is a test for him because there will be people, there will be murmurs that he should have taken his chances.

“He had moments, like Richarlison at the end, but I think his overall performance was good.

“But he will judge upon moments like this where he had two or three decent chances.

“He needs to make sure he doesn’t beat himself up too much in the next two or three days.

“I would like to think he looks on the positives that he had a really good game apart from the most important things.

“He will get goals if he keeps doing that as I thought his overall performance was good.”

Dominic Solanke stats in Tottenham draw at Leicester

As per Sofascore, Solanke registered an xG (expected goals) of 0.34 and an xA (expected assists) of 0.15.

Solanke had three shots on target, completed three dribbles, took 35 touches of the ball, completed 15 of 19 of his passes, and made one key pass.

The Spurs forward also won seven of his eight ground duels and one of his two aerial duels, whilst also weighing in with two tackles.

Joe Cole has decided who he thinks will finish higher in the Premier League table this season between Tottenham Hotspur and his former club Chelsea.

Tottenham finished three points and just one place above Chelsea during the 2023-24 Premier League campaign.

Both sides looked set to take part in the UEFA Europa League this season, but Chelsea dropped down to the Europa Conference League as Manchester United gained an automatic place in the group stages of the former by winning the FA Cup.

Tottenham will look to build on their fifth-place finish from last season under Ange Postecoglou, while Chelsea are once again set to start from scratch under Enzo Maresca after the Italian replaced Mauricio Pochettino at the helm.

And now, Joe Cole believes Chelsea will fare better than Tottenham this season, unlike what was the case last time around.

Joe Cole predicts Tottenham to finish outside top four

When asked by TNT Sports News to pick his Premier League top-four, Cole went for Arsenal to win the league and Manchester City to finish second, with the former England international predicting the Gunners to get their hands on the Premier League title for the first time since 2004.

He picked Liverpool to finish third in their first season under Arne Slot, with Chelsea tipped to occupy the final UEFA Champions League spot.

Although Cole didn’t elaborate on his claims, he believes Tottenham will finish outside the top four in the 2024-25 campaign, with the Lillywhites finishing fifth last time around.

Tottenham started the 2023-24 Premier League campaign in flying form and were top of the league until late October as Ange Postecoglou got off to a flying start at his new club.

However, injuries to key players derailed their season as they faltered over the line to book a spot in the Europa League.

What to expect from Tottenham Hotspur this season?

Spurs have been active in the transfer market and have already got Dominic Solanke, Archie Gray, Lucas Bergvall and Wilson Odobert through the door.

Gray was wanted by Arsenal earlier this summer but the young Englishman ended up on the other end of the north London divide, a deal that was seen as a massive coup in footballing circles.

Solanke’s arrival, on the other hand, will reduce the goalscoring burden on Heung-min Son, with the English striker scoring 19 Premier League goals last season for Bournemouth.

Jamie Carragher believes Spurs paid over the odds to sign Solanke, with Postecoglou’s side parting with a hefty fee of £65m to snap him up earlier this month.

Tottenham have played some good football since Postecoglou’s arrival and with the likes of Liverpool and Chelsea in transition under new managers, they could look to capitalise on the situation to secure a top-four finish.

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Tottenham Hotspur have been busy on the transfer front this summer as Ange Postecoglou looks to strengthen his squad.

So far, Spurs have made four new permanent signings and re-signed a player on loan after having him at N17 last season.

Tottenham have signed Archie Gray, Yang Min-hyuk, Dominic Solanke and Wilson Odobert, while Timo Werner will keep playing for Spurs on loan.

In addition, Lucas Bergvall has arrived at Tottenham after the Lilywhites agreed a deal with Djurgardens earlier this year.

There’s a good chance Spurs aren’t done just yet, and may well be looking for additional recruits in defence and in midfield.

Now, the manager of a £36million midfielder said to be on Tottenham’s radar has confirmed that his player won’t be in this weekend’s matchday squad.

Tottenham-linked Conor Gallagher out of Chelsea matchday squad

The player in question is Chelsea’s Conor Gallagher, who has been linked with a switch to Spurs for most of the summer.

Gallagher looked set to complete a move to Atletico Madrid, but discussions stalled between the two clubs and he returned to London for the time being.

Enzo Maresca has confirmed that the England international will not be in the Blues squad to face Manchester City on Sunday.

“Conor is back and training a bit apart,” Maresca said, as per BBC Sport.

“He is doing some medical tests and training, he won’t be involved in this game.

“You know better than me that he is trying to find a solution with the club and we will see what happens.

“Hopefully Conor’s situation finishes with the player, the club and all the people happy.”

Gallagher set to change clubs this summer

It remains to be seen whether Tottenham opt to make a move for Gallagher in the last two weeks of the transfer window.

Obviously it mostly depends on whether Atletico can make a breakthrough with Chelsea over the £36million-rated player.

However, should talks between Chelsea and Atletico collapse, the likes of Tottenham will sense an opportunity to pounce.

At just 24 years of age, Gallagher has already captained Chelsea and is a regular for England.

The situation he finds himself in is not the norm for a player of his quality, so hopefully he will be able to leave Chelsea as soon as he can.

Tottenham Hotspur smashed their transfer record to sign Dominic Solanke from Bournemouth this summer.

Ange Postecoglou earned the trust of Daniel Levy in his debut season at the club, and the Spurs chairman has backed him in this window so far.

Tottenham spent a lot of money on 18-year-old Archie Gray, and he is viewed by many in the game as a truly brilliant signing by Spurs.

But, the player everyone is talking about is Solanke, and Jamie Carragher has now delivered his verdict on the move.

Jamie Carragher shares what surprised him about the Dominic Solanke to Tottenham deal

Tottenham Hotspur agreed a club-record £65 million deal to sign Solanke this summer.

Spurs’ luck with their last few big-money signings hasn’t been great. Tanguy Ndombele proved to be a disastrous signing, while Richarlison hasn’t done enough to justify his price tag either.

Now, Postecoglou and Levy both decided to place their bets on Solanke after the Englishman’s fantastic performances in the 2023/24 season.

He scored 19 goals in the Premier League for Bournemouth – only Erling Haaland, Cole Palmer and Alexander Isak managed more.

It will be interesting to see how Solanke will fare in Tottenham’s colours this season, but Carragher has expressed his surprise about one thing – his price tag.

He said on Sky Sports (August 16 2024, 6:39 pm): “I must admit, we were looking at Dominic Solanke at the top of there. It was something that surprised me in terms of the fee. Just the fee – £65 million.

“Yeah, I did, yeah (think that it was too much).”

Tottenham could’ve signed another top striker for just £30m

Tottenham were linked with a number of strikers in this summer’s transfer window.

It was clear that Spurs needed a new number nine. They were brave not to replace Harry Kane when he left in 2023, but Postecoglou knew he couldn’t ignore that position again.

Solanke is the chosen one, but many people including Simon Jordan have claimed that Tottenham should’ve signed Ivan Toney instead.

Reports have claimed that Toney is available for just £30 million, which is less than half of what Spurs have agreed to pay for Solanke.

It remains to be seen if Tottenham’s decision to go with him will pay off this season.

Tottenham Hotspur get their Premier League campaign under way on Monday night with a trip to Leicester City.

Spurs boss Ange Postecoglou has been working hard over the summer to fine-tune his tactics and squad ahead of the new season.

Tottenham have been fairly busy on the transfer front since the window opened in June, with several new additions to their ranks.

Spurs’ first signing of the summer was Archie Gray, one of English football’s most talented youngsters. He arrived from Leeds United.

Tottenham have also signed Dominic Solanke from Bournemouth and re-signed Timo Werner on loan from RB Leipzig.

In addition, Lucas Bergvall has finally arrived from Djurgarden and Yang Min-hyuk is now on Spurs’ books, though he won’t join until next year.

Postecoglou, speaking to football.london at his pre-match press conference, was asked about some of his new signings.

The Tottenham boss outlined how one of his new arrivals has a “really strong mentality” and how happy he is with how he has fared at N17 so far.

Archie Gray could play for Tottenham on Monday

Postecoglou spoke highly about Gray, confirming that the 18-year-old is very much in contention to play against the Foxes on Monday.

When asked whether Gray is in contention to replace the suspended Yves Bissouma, the Spurs boss said: “Yeah, Archie has settled in really well.

“Again, great kid but a really, strong mindset. We’ve asked him to play different positions, but he’s handled it really well.

“Part of the attraction of bringing someone like Archie to our club… he can play more than one position. So when it’s required, we can use him in those areas.

“He is going really well, I am really happy with him and he has every chance to play on Monday.”

Gray will fancy his chances of featuring often for Spurs this season

Although Gray is just 18 years old, he has done more than enough to prove he’s ready for the highest level.

He clocked up over 50 competitive appearances for Leeds and was one of their brightest players in their run to the Championship playoff final.

Gray, who Elland Road cult hero Jermaine Beckford has described as “incredible” on Sky Sports via Leeds Live, has also impressed for Tottenham in pre-season.

With Spurs set to compete in the Europa League, Gray is likely to get a decent amount of game time – maybe even some starts – early on in his N17 career.

It has been reported that Postecoglou plans to use Gray as cover at right-back initially, but his long-term future is said to be in midfield.

Writer’s Tottenham prediction for the season

Tottenham were impressive for most of last season and were in top-four contention until April, when a downturn in form cost them a Champions League spot.

This season, Spurs’ goal will be to cement a spot in the top four and qualify for Europe’s premier club competition once again.

At the same time, Tottenham will be eager to end a trophy drought that goes back 16 years, and the cups are the best chance of doing so this season.

Spurs are in the Europa League and will fancy their chances of a good run in the competition, and the FA Cup and League Cup cannot be discounted either.

The writer’s prediction for Tottenham is a fourth-placed league finish and a great cup run – potentially even the final – in at least one of the competitions.

The Conor Gallagher transfer saga is showing no signs of nearing a conclusion, and the likes of Tottenham Hotspur, Aston Villa and Arsenal cannot yet be ruled out.

Spurs have been heavily linked with Gallagher for most of the summer, while Villa reportedly opened talks for the Chelsea man and the Gunners are said to have enquired about him too.

Meanwhile, Gallagher has been frozen out at Stamford Bridge and is expected to secure a move away from west London before deadline day.

It looked as though the likes of Tottenham, Villa and Arsenal were set to miss out on the England international after he agreed a move to Atletico Madrid.

Gallagher had agreed a £36million move to the Wanda Metropolitano and he even travelled to the Spanish capital with a view to completing the deal.

However, talks between the Blues and Atletico stalled, and the midfielder has since returned to London for the time being.

Fabrizio Romano has now shared an update on the Gallagher saga, taking to YouTube on Thursday evening with the latest.

Fabrizio Romano says Chelsea and Atletico Madrid still in talks over Conor Gallagher and Joao Felix

“I can guarantee that at this time, Thursday night, Chelsea are still actively working on the Joao Felix and Gallagher story,” began Romano.

“I know it’s a crazy saga, I know it’s gone quiet in the last 24-48 hours and probably – for all parties involved, including agents, players, clubs, directors – is better.

“Including fans, too, because we had too many things happening in the last 10 days on this story.

“It’s been a crazy couple of days with the story, now it’s gone quiet in the media, but behind the scenes the conversations are taking place.

“So I can guarantee that Chelsea are still working on the Joao Felix deal with Atletico Madrid and with the agent of the player, Jorge Mendes.

“Atletico Madrid are still trying to find a way for Conor Gallagher because they want (him), so they are still working on the deal with Chelsea and with the player.

“The player already did everything with Atletico Madrid, so the contract is done, it’s ready, they just need to fix the situation with Chelsea after the Samu Omorodion issue.

“So now, work in progress for Joao Felix, negotiations ongoing, let’s see what happens… I will keep you posted!”

Gallagher would be an asset for any Premier League club

The likes of Tottenham, Villa and Arsenal will no doubt be keeping tabs on the Gallagher situation.

Should talks between Chelsea and Atletico collapse, they will sense an opportunity to pounce.

At just 24 years of age, Gallagher has already captained Chelsea and is a regular for England.

The situation he finds himself in is not the norm for a player of his quality, so hopefully he will be able to leave Chelsea as soon as he can.