Tottenham Hotspur are now London’s richest club yet fans have found one of the most frustrating aspects in recent years has been a lack of transfer activity. Until the summer signings of Jack Clarke, Tanguy Ndombele and Giovanni Lo Celso, Tottenham failed to sign anyone in the two previous transfer windows, a record in Premier League history.
The news that Tottenham Hotspur are now officially the capital’s richest club means it is surely time for the club to start fighting back off and on the pitch.
London’s Richest Club – How Did Tottenham Get There?
A Shrewd Businessman
Love him or loathe him, Tottenham chairman Daniel Levy is a shrewd businessman. In nearly 20 years, he has taken a near bankrupt club forward financially to a point where they are solvent and profitable as a business. That has been no mean feat, so just what has contributed to this financial success?
The run to their first ever Champions League final played its part, adding €52.1 million to the club’s income. The move to the new Tottenham Hotspur Stadium is also starting to pay off, although final figures have not yet been released. Considering that the new stadium has a capacity of 62,000 along with countless bars and food outlets, it is not hard to see how the new ground will provide a boost to the clubs income.
Prudence in the transfer market has meant few outgoings and assisted in pushing Spurs to eighth in the latest Deloitte’s football money league ahead of rivals Arsenal and Chelsea. The 2019/20 season is Tottenham’s first full season at ‘home’ and revenue is predicted to rise. The club are also still in the Champions League so they are likely to be ahead again when next years money league is revealed.
London’s Richest Club Can Have No Excuses
Whenever spending money at Spurs comes up, you can guarantee the arguments that will appear on social media and in the stands. ‘Don’t you remember the bad old days?’ No fan would want Tottenham to go back to the days of financial hardship under Irving Scholar and points deductions.
Those past failures have guided Daniel Levy and ENIC in their prudent running of the club whilst also delivering possibly the finest stadium in world football.
The lack of ambition, as it may be perceived in the transfer market, has had an impact on the club’s on-field success, or lack of it. Spending money does not guarantee success. Manchester United in recent years, as well as Fulham and Aston Villa, can all attest to that fact. Strengthening, though, is needed if you want to win trophies and be competitive. After five years of over-prudence, Tottenham are now struggling to keep pace with the teams above them and are starting to look like they face a huge task to reach the top four. Failure to qualify for next season’s elite European competition would hurt revenue for the following season and that could undo the hard work that has been done off the pitch.
Tottenham do not need to bankrupt themselves, but the excuse about lack of funds or not being able to pay top wages or transfer fees is now defunct. Tottenham Hotspur are officially London’s richest club. Now it is time to act like it on the pitch and start delivering trophies and success.
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