Finance guru ‘baffled’ by Tottenham blunder as January deal now up in smoke
It is “baffling” that Tottenham appear to have failed to do their due diligence before they signed a commercial deal with now-bust Fast.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the collapse of the payment solutions company.
Spurs announced the deal with Fast, which contained an agreement to provide payment solutions at their stadium and club shops, in January.
But the United States-based firm has now gone belly-up before they paid Spurs a penny, as relayed by the Daily Mail last Sunday (10 April).
Plumley admitted he is shocked that the North London club did not consider the company’s volatile financial health before they signed the deal.
“I thought this would definitely be covered in due diligence,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“It is so important that you scrutinise the finances of a company that you’re partnering with to make sure that everything is okay.
“It would baffle me if clubs are not doing their due diligence in these scenarios You should absolutely be factoring this in.
“So, it is a strange one all around. You would have thought that checking the financial health of a partner would be top of your list of priorities.”
Fast’s branding has been removed from the ‘Our Partners’ section of Spurs’ official website.
The club has 15 primary commercial partners and generated £136million in commercial income in 2020-21.
In other news, expert digs at Tottenham fans after Harry Kane “didn’t turn up”.