TBR Football

The ownership of Daniel Levy and ENIC is a divisive issue among Tottenham fans, but there can be no debate about their merits as commercial operators.

Since the move to the Tottenham Hotspur Stadium in 2019, matchday and commercial income have nearly trebled.

They have achieved this without a stadium naming rights deal, which Levy valued at £20m per season and exit-bound commercial director Todd Kline said was his top priority in North London.

Spurs‘ revenue stood at £550m in the last financial year. That put them 8th in Deloitte’s Football Money League, earning more than Chelsea and Arsenal and almost double AC Milan and Atletico Madrid.

As well as generating more cash through the turnstiles and on the concourses, the Tottenham Hotspur Stadium has established the club as a global brand – as much as fans might hate that word.

That has given them huge leverage in negotiations with sponsors such as Nike and AIA, who pay a combined £70m per season to be associated with the club.

And Levy, who has a hand in all commercial deals, has managed the club’s sponsorship portfolio carefully.

Liverpool are the only Premier League club with a more diversified commercial income, with just 36 per cent of Spurs’ revenue coming from their front-of-shirt, sleeve and kit deals.

And the club have just struck yet another sponsor deal, taking their total number of official partners to 23.

Tottenham’s latest commercial agreement

Spurs’ sponsorship prtfolio encompasses some of the biggest brands in the world, such as CocaCola, HSBC and Castrol.

Now, there is a new name on that list: the customer relationship manager brand Salesforce.

The partnership will also see Salesforce become the CRM partner for the Formula One-sponsored karting experience at the Tottenham Hotspur Stadium.

Accompanying the announcement of the deal, Spurs’ chief technology officer Rob Pickering said: “This innovative partnership will see the integration of Salesforce’s industry-leading software to create tailored, enriched digital experiences for our ever-growing fanbase.

“Importantly too, the partnership will be driven by purpose, with the delivery of vital STEM education to our local young people through Salesforce’s expertise and leadership in its field.”

Tottenham on course for £250m commercial revenue

No value has been reported for the partnership between Spurs and Salesforce, but industry benchmarking suggests that it will be in the low seven-figure bracket.

Tottenham’s commercial income was £228m in the last financial year and those consulted by TBR Football, such as sponsorship brokers and the finance expert Kieran Maguire, say £250m is on the cards.

It is telling that the Salesforce deal has a provision specific for the Tottenham Hotspur Stadium with the Formula One tie-in.

Spurs have turned their home ground into a money-printing machine, and the news that Haringey Council have green-lit proposals to allow them to host twice as many non-football events is a real boon.

Spurs staged the opening weekend of the NFL London games last Sunday and are set to welcome the Jacksonville Jaguars and Chicago Bears this weekend.

The partnership with the NFL, as well as becoming the go-to London venue for acts like Beyonce, means Spurs’ commercial acceleration will not slow down any time soon.

Understandably, there are some frustrations from supporters about the club’s emphasis on sponsorship and merchandise.

But with ENIC unwilling – and, due to their relative lack of wealth compared to some Premier League owners – potentially unable to underwrite financial losses, commercial strategy is key to the transfer kitty.

Tottenham Hotspur have been able to scout some of Europe’s very best young talents over recent years.

Even prior to Ange Postecoglou‘s arrival, there has been a big focus put on investing in some of Europe’s promising youngsters.

That has been seen through the signings of players like Destiny Udogie who was signed from Udinese before spending a year back in Italy ahead of his arrival.

More recently, Tottenham have been able to get their hands on some even younger players with the likea of Archie Gray and Lucas Bergvall arriving this year.

And this is all on top of promoting their own homegrown talent with Mikey Moore impressing the likes of Harry Redknapp in his early Tottenham career.

There could now be a 17-year-old in their ranks who could offer Postecoglou long-term cover for Cristian Romero.

Tottenham could have their Cristian Romero replacement

Argentina’s World Cup-winning centre-back Romero has been linked with a potential move to Real Madrid of late.

The 26-year-old has now won the World Cup and two Copa Americas with his national side but is yet to lift any silverware in north London.

Although the defender has three years remaining on his deal at Spurs, there are questions now being asked about his long-term future with the Lilywhites.

However, Spurs now have a seriously exciting young centre-back coming through their ranks who could offer long-term cover for Romero.

Luka Vuskovic was signed by Spurs last year and he has since made a number of loan moves to various clubs across Europe to gain some further experience.

The 17-year-old has been unable to join up with Tottenham just yet as he has needed to acquire some further GBE points towards his move to England.

However, during his latest loan move to Belgian side KVC Westerlo, the young Croatian has shown just how promising of a talent he is.

The centre-back has made 10 appearances in the Belgian top flight this season where he has already returned a sensational four goals and one assist.

Westerlo’s only clean sheet did come on the opening day of the term but the 17-year-old has clearly established himself having played ever minute in all but one of their games.

How Luka Vuskovic compares to Cristian Romero

Standing at 1.93m, Vuskovic is certainly a player who would provide this Tottenham defence with some further height.

The 17-year-old is considerably taller than Romero which is something that the Argentine has struggled with of late when it comes to defending aerial balls.

Romero was at fault for the only goal of the game in the North London Derby with Gabriel Magalhaes beating him in the air.

Aerial duels is just one of the categories which Vuskovic is already boasting over the World Cup-winning Spurs defender.

Cristian Romero coming under Tottenham criticism

Fabrizio Romano has provided his understanding of Romero’s situation with no release clause in the Argentine’s Tottenham contract.

However, Spurs legend Glenn Hoddle has not been impressed by Romero this season with the defender coming under heavy criticism following the Brighton defeat.

Tottenham fans have seen Romero’s quality since he landed from Italy, but it is clear the vice-captain is not providing that level currently.

Perhaps his future may be away from Tottenham in the coming years but with the likes of Radu Dragusin and Vuskovic in their ranks, Spurs are in good hands for the future.

Whilst neither have struggled for goals in the Premier League so far this season, both Tottenham Hotspur and Aston Villa could be in the market for a new attacking midfielder.

Tottenham sold Giovani Lo Celso to Real Betis this summer, a player Unai Emery was thought to be keen to bring to Villa Park.

In the end, Villa didn’t add a new number 10, perhaps mindful that Emi Buendia would soon be returning from injury.

Spurs also didn’t quite find the right signing in that regard either in the summer, failing to launch moves for Eberechi Eze or Villa’s very own Jacob Ramsey.

That being said, TBR Football understands that both Spurs and Villa are keeping a close eye on Viktoria Plzen midfielder Pavel Sulc.

Tottenham and Aston Villa have both been watching Pavel Sulc this season

Playing for Viktoria Plzen last season, Sulc managed an incredible 18 goals in 29 games playing in midfield, form that he has continued this term.

Sulc already has five goals to his name domestically and he has transferred that form internationally, too.

The midfielder now has six caps for Czechia and scored two goals against Ukraine in the Nations League back in September.

Some of Europe’s stop clubs are now paying close attention to Sulc and there’s also interest emerging from the Premier LEague.

Manchester City, Tottenham and Villa are all among the clubs that have watched Sulc in action this season.

On the continent, Napoli, Atalanta, Marseille, Borussia Dortmund and Bayer Leverkusen are also interested in the goal scoring sensation, who certainly knows how to hit the ball cleanly.

Viktoria Plzen would sell Pavel Sulc for the right price

Interestingly, Sulc’s manager, Miroslav Koubek, has admitted that the club would sell their star player for the right price.

Plzen aren’t keen to deny their players a path to Europe’s top clubs, and Koubek said the club would wish him well were the right offer to arrive.

Speaking in May via Denik, Koubek said: “I’ve already said it once, in Plzen, departures are set up in such a way that they will only be dealt with in the case of an offer from the top five elite European leagues.

“And if someone like that comes, I’ll shake Pavel’s hand and congratulate him.”

Therefore if either Spurs or Villa decide to take their interest one step further in January or next summer, it seems as if a deal should be with their reach.

A former Tottenham Hotspur striker is earning comparisons with Premier League icon and England captain Harry Kane these days.

And not because of his goalscoring.

While Harry Kane has 10 already from just nine Bayern Munich appearances, his former Tottenham Hotspur team-mate has found the net just three times in the opening few months of the current campaign.

But with his tally of assists outweighing his goals’ return – five assists to three goals – Vincent Janssen is taking to his new role like the proverbial duck to water.

The manner in which Janssen set up Tjaron Chery’s finish during Royal Antwerp’s 3-0 triumph over Cercle Brugge last weekend was right out of the Harry Kane playbook. Dropping deep and outmuscling a defender off the ball, Janssen then fed a well-placed pass in behind the Cercle Brugge backline for Chery to run onto.

The former Spurs flop then pulled into more of an advanced midfield role again before laying the ball off for Jacob Ondrejka to lash home Royal Antwerp’s third of the afternoon.

Vincent Janssen channelling Tottenham Hotspur legend Harry Kane

“The assists for Janssen are particularly striking,” former Jupiler League glovesman Frank Boeckx, who now works as a goalkeeping coach for Anderlecht, tells Sporza.

“I don’t think he’s the most clinical finisher this year, but he actually plays more like a number 10. He did that last year too, but now he’s the only one up front.

“He’s actually approaching things like Harry Kane is.”

Janssen flopped badly in North London.

During 31 Premier League appearances, the luckless Dutchman hit the target just twice. Janssen departed Tottenham just £6 million back in 2019, too, Spurs taking a massive financial hit on a player who arrived in the English capital after winning the Eredivisie’s Golden Boot with AZ Alkmaar.

Five years on, Janssen has carved out a pretty respectable career, putting that dismal Spurs spell firmly behind him after escaping the glare of the media spotlight.

The striker scored 38 goals in his first two seasons at Royal Antwerp, helping to end their long wait for a Belgium title alongside former Tottenham defender Toby Alderweireld.

But while his return has taken a dip this term, Janssen is adding another string to his bow to ensure that, even as his off-days in front of goal continue, he can still contribute to a team sitting just three points off the top of the table.

Belgium legend Franky van der Elst is keen to see Janssen return to doing what he does best, however.

Kane came in for plenty of criticism during England’s Euro 2024 campaign with some feeling that he did far too much of his work outside of the penalty area. Van der Elst is warning Janssen against doing the same.

“He should not look for that [number ten] role too much,” argues Van der Elst, who earned 86 Rote Duivels caps in the 1980s and 1990s. “Last season, that didn’t work anymore when he looked for it too much.

“He really has to function from the striker.”

Janssen explains Harry Kane role in his difficult Spurs spell

Janssen, by his own admission, ‘struggled’ due to the competition posed by a rapidly-improving Kane during his short-lived spell at Tottenham under Mauricio Pochettino.

“I can talk about it now because I have nothing but praise for Harry,” Janssen told reporters in 2023. “But, at the time, I struggled to cope with his presence. It just wasn’t fun for me to be on the training ground with Harry and do finishing sessions.

“He was my big rival for the position of striker. And, when I faced up to it, there was not really much I could do against a geezer like him. I just knew he was so incredibly brilliant.

“When I look back now, I realise I should have studied him and should have learnt much more. But I was frustrated and I was not able to turn the switch in my head.”

Tottenham Hotspur find themselves reflecting on another dismal result going into the latest international break.

It is becoming somewhat of a reoccuring theme for Ange Postecoglou‘s side to lose in frustrating fashion ahead of the international window.

It looked as if Tottenham were finally getting their season on track following an impressive win at Old Trafford.

The Lilywhites have also secured themselves six points from a possible six in the Europa League having played their opening two games.

But the defeat against Brighton & Hove Albion over the weekend will only raise further questions with Spurs having only taken 10 points from a possible 21.

And it seems as if there could soon be a significant departure from Hotspur Way over the coming weeks.

Tottenham coach favourite to become Anderlecht manager

There have been some frustrations floating around the north London on the back of the defeat to Brighton over the weekend.

Journalist Alasdair Gold was not impressed by what Potsecoglou had to say in the wake of the defeat about making his changes earlier than he did.

But it seems as if there is one of the Australian’s coaching staff who could soon be set for a new challenge after years at the club.

According to the Sky Sports, Ryan Mason is now in talks with Belgian side Anderlecht over becoming their new manager.

It is claimed by reporter Michael Bridge that Mason is one of the final candidates being considered for the role as their next head coach.

This would see Mason’s time at Tottenham come to an end following years in the dugout at the Tottenham Hotspur Stadium.

But after a number of interim roles as the Spurs boss, it seems the 33-year-old is now ready to take his first steps in a managerial role.

What Gareth Bale previously said about Ryan Mason

During Gareth Bale’s second stint in north London, he was managed by Mason who took over on an interim basis from Joe Mourinho.

Mason famously oversaw the Carabao Cup final defeat against Manchester City but he did earn the praise of Bale for his efforts in their league win over Southampton.

“There were a few positional issues with the team, and he told us to be a bit more patient on the ball,” Bale told the media back in 2021.

“He gave a good team-talk at half-time. Then we came out in the second-half and played pretty well.”

For all Tottenham’s faults, their reputation in football’s business sphere is almost peerless and Daniel Levy has ensured the club has steered well clear of any FFP issues while others have struggled.

Many supporters will rightly point out that their financial prudence may also be one of the reason for their lack of silverware for the last 14 years.

The counterargument to that is that ENIC and Daniel Levy are actually in the bottom half of owners in the Premier League in terms of wealth.

For that reason, Spurs have been reluctant to spend huge sums – at least compared to their ‘Big Six’ peer group – on player wages and transfer fees as the owners cannot bankroll major losses.

With the current regime actively looking for a minority investment in Tottenham, it is hoped that the capital could go towards making improvements to the squad.

Spurs value themselves at £3.75bn, and any investment at that rate would be a major boon.

However, ENIC would be under no obligation to funnel the cash back into the playing budget and could quite easily pocket it themselves or, as they have said is their aim, put it towards infrastructure projects.

But if they did, Tottenham have ample wriggle room under the Premier League‘s FFP (now called Profit and Sustainability Rules, or PSR) system.

Johan Lange reflects on PSR and Daniel Levy’s ‘strength’

On paper, Spurs are flirting with the upper limit of the Premier League’s PSR system, which limits clubs to losing £105m over a rolling three-year period.

However, infrastructure costs are among the expenses exempt from the calculation, meaning Spurs’ circa £70m-a-year depreciation charge on the stadium opened in 2019 steers them well clear of that threshold.

Analysis from the world renowned football finance analyst Swiss Ramble projected that the North London club had almost £140m worth of PSR headroom going into 2024-25.

Now, in a rare interview, Spurs’ director Johan Lange has outlined the club’s approach to PSR and recruitment in the current regulatory landscape more generally.

‘The club is also investing in the academy, and developing more Harry Kanes is essential in what Lange believes is an “increasingly complicated” market, thanks to financial fair play rules, Brexit and global restrictions on loans,’ the report reads.

Speaking directly about Levy’s role in transfers, which has been questioned by elements of the fanbase, Lange said: “Daniel has great experience and a fantastic network.

“Not to play to that strength would be silly. Ange and I have ongoing discussions all the time about the squad. It’s far from only about transfers… [but] of course, when we come close to the window, it’s about how we want to ideally end up after the window.

“When I speak with Daniel and Scott Munn [chief football officer], it’s more about strategy and developing the club overall. Daniel’s network can play a part of some transactions, case by case, but he will never go in and have an opinion about whether a certain player is a good fit or not.”

Tottenham’s role in Man City’s APT case

As one of the clubs whose PSR status has never been in question, it is natural that Spurs would back retaining or even strengthening the Premier League and UEFA’s spending rules.

On that note, Spurs were one of the teams that gave evidence against Man City in the recent arbitration case over the Premier League’s associated party transaction (APT) rules.

City have claimed victory in that case – although these matters are rarely as straightforward as a win or a loss, and some analysts believe that its it the Premier League who have come out of the case best.

The APT rules, which aim to stop clubs from striking artificially inflated sponsorship deals with owner-related companies, were introduced after clubs including Spurs voted them through after the Newcastle United takeover in 2021.

Tottenham Hotspur boss Ange Postecoglou has steadied the ship in recent weeks, embarking on a five-game winning run.

Plenty of Spurs players have stepped up since the North London derby and the mood at the Tottenham Hotspur Stadium is positive ahead of the international break.

Tottenham have one more game to see out – Sunday’s trip to Brighton – before Postecoglou can once again take stock of everything at Hotspur Way.

One key aspect of Spurs’ upturn in form has been Dejan Kulusevski, who has dazzled since switching to a central midfield position.

The 24-year-old was predominantly used as a winger by Postecoglou last season, but he has impressed in a box-to-box No. 8 role this term.

Kulusevski scored his first goal of the season and created a multitude of chances as Tottenham ran out 3-0 winners at Manchester United last weekend.

Postecoglou has now given his verdict on the Sweden international, including what the player himself thinks about playing centrally.

Ange Postecoglou says Dejan Kulusevski is enjoying playing at No. 8 for Tottenham

The Tottenham boss said Kulusevski’s form has been “out of this world” and that there’s still so much more to come from the player.

In addition, the former Juventus man is enjoying his time at No. 8, added Postecoglou.

“Deki [Kulusevski] is doing great,” Postecoglou said, as per the Evening Standard. “He’s been out of this world in many respects as to what he’s able to do in a central role.

“We used him wide last year because we didn’t have too many options out there and that’s where he was comfortable. We started using him inside and I felt he felt that it unshackled him a little bit.

“He has an unbelievable capacity to run on and off the ball, his physical numbers are ridiculous and he has the quality to hurt teams with that.

“At times out wide he might’ve felt suppressed, especially in our system where you have to hold your position and not be involved, he’s a player who wants to be involved.

“We brought a couple of wide players in this year and I thought let’s go with him inside.

“We played with him as a nine in pre-season and he made an impact. The beauty of Deki is he’s just getting started, he enjoys the role.

“He brings a different dimension to us because there’s not many players like him.”

Kulusevski created nine chances at Man United, more than any other visiting player in history.

Tottenham team news v Brighton

Kulusevski is now set to return to the XI for Sunday’s visit to Brighton after being rested against Ferencvaros.

On Friday, Postecoglou said he expected Tottenham captain Son Heung-min to miss out as he continues to nurse a muscle issue.

Son pulled up in last week’s Europa League win over Qarabag and missed the victories over Manchester United and Ferencvaros.

However, Postecoglou expects Destiny Udogie to be back for the game after he came off at half-time at Old Trafford and didn’t travel for the Europa League clash.

“Out of the guys who sort of stayed back, Destiny we think will be okay,” the Tottenham boss said, as per the Evening Standard.

“Sonny unlikely, he’s pushing hard but I just don’t think the turnaround will be quick enough for him to be available at this stage.

“And then that’s it, the others are kind of long-term.”

Tottenham Hotspur have now made it five wins in a row in all competitions after running out 2-1 winners over Ferencvaros in the Europa League on Thursday night.

Pape Matar Sarr opened the scoring for Spurs in the 23rd minute before Brennan Johnson doubled the Lilywhites’ lead in the 86th minute.

And though Barnabas Varga struck late on for a nervy finale, Tottenham hung on to secure their second consecutive win in the tournament.

Johnson’s goal was his fifth in five games, a remarkable turnaround since he deactivated his Instagram account in wake of the North London derby loss.

Ange Postecoglou spoke to the press after the Ferencvaros game and shared what he found “curious” in terms of what he heard about Johnson.

Ange Postecoglou says Brennan Johnson has now ‘probably bypassed’ other Premier League wingers

Postecoglou, speaking to football.london, stressed that Johnson finding the bottom corner is not a coincidence, and expressed how happy he was with how confident he is now.

The Spurs boss also admitted he didn’t understand why Johnson received such criticism, because his numbers “always stacked up” when compared to other wingers in the Premier League.

Alasdair Gold asked Postecoglou: “Brennan Johnson, another goal and he keeps finding the bottom corner, it’s not a coincidence is it?”

“No,” replied the Tottenham boss, “and I thought he was unlucky with the one that hit the bar as well.

“Look, he is in a great vein of form and obviously feels good about himself at the moment, really confident.

“I guess with all attacking players, goals and assists, they kind of thrive on that stuff, but I’ve said before he has been fantastic for us.

“Even if you look at his figures last year. He moved to a big club and still got a decent return of goals.

“It was always curious to me why people were singling him out because if you compare him to other wingers in the league.

“His numbers always stacked up anyway and now he has probably bypassed all of them.

“I had no doubt he would make a massive impact for us. Now he is making not just an impact but changing games for us.

“Again, still a young guy, still working hard and wants to learn, so that’s great for us.”

Johnson flying high and silencing his doubters

It’s baffling to think that, just a few weeks ago, Johnson was on the receiving end of so much criticism that he ended up deactivating his social media account.

Footballers sometimes need time to fully get up to speed and get the ball rolling in terms of confidence and, ultimately, getting results on the pitch.

It can be weeks, as in Dominic Solanke’s case, or a bit longer, as has proven the case for Johnson.

Luckily, the Wales international has embarked on a rich vein of form that has left many doubters eating humble pie.

Tottenham Hotspur have made a topsy turvy start to the new Premier League campaign.

The North Londoners have won three of their opening six games and reside in eighth place ahead of this weekend’s clash against Brighton and Hove Albion.

But first, they are in Europa League action this evening as they take on Hungarian outfit Ferencvaros at 17:45.

It’s become evident, that if Tottenham are to challenge at the top end of the table, they must make further additions in the January transfer window.

Though, they must not lose any key assets, either, and with that said, Real Madrid are eyeing one of their first-teamers.

Real Madrid are eyeing Pedro Porro

According to CaughtOffside, Real Madrid have lined up Tottenham Hotspur right-back Pedro Porro as an alternative to Trent Alexander Arnold.

Madrid are planning an attempt for Alexander-Arnold next summer as he continues to stall on penning a renewal.

However, should they fail to persuade him to make the switch to La Liga, Real will make a move for Porro instead.

Tottenham are already fearful that they could lose the 25-year-old, with a return to his homecountry a tempting offer.

It’s understood a bid of around £54m could be enough to get Spurs thinking.

Tottenham should sell Pedro Porro if substantial bid arrives

Whilst it obviously wouldn’t be ideal if Porro left, an offer in excess of £50m would certainly be good business.

Plus, the former Manchester City man is replaceable, especially if they were to sign long-term target Michael Kayode.

Tottenham Hotspur are set to open their journey in the Europa League this week in what may be a welcome break from the Premier League.

Ange Postecoglou‘s side have pulled themselves back into the top half of the table over the weekend with victory over Brentford.

It has not been a straightforward start to the new campaign for Tottenham who have been unable to take their opportunities in front of goal.

But there have been plenty of positives to come from the opening five games with Tottenham looking a threat – despite not always being able to take their chances.

And it seems team spirit has remained high despite some of the frustrating defeats to the likes of Newcastle United and Arsenal over recent weeks.

Heung-min Son waxes lyrical about Tottenham defender

Following a busy summer for Tottenham, some of the key figures at the club have took part in a Q&A session with some selected fans in north London.

Daniel Levy responded to criticism being received from some Tottenham fans after a turbulent start to the campaign.

But it was not just Levy who faced questions from the media with Ange Postecoglou and Heung-min Son also in attendance.

The South Korean captain was asked a number of questions during the evening at the Tottenham Hotspur Stadium.

One of the questions put to the 32-year-old was which player is his favourite to ever play for Tottenham.

To which Son simply replied ‘Ben Davies’ despite playing alongside the likes of Gareth Bale and Harry Kane during his time in north London.

Heung-min Son has created more chances than anyone in the Premier League

It has been a solid but not spectacular start to the season for the Spurs captain who has provided two goals and two assists.

Those two goals did come in the victory over Everton which will see him wanting to get back on the scoresheet sooner rather than later.

But Son has also show his strengths in creating opportunities for Spurs with two assists recorded on the weekend against the Bees.

There is no player in the Premier League who has created more chances from open play than the Spurs captain this season.

And that is exactly what players like Dominic Solanke will be hoping for as he looks to make a real impact in north London.