Finance guru issues 'major' claim after £112m Tottenham reveal - 'this has a big impact'
Tottenham may have the third-biggest operating income in world football – but that does not necessarily mean they are competing on the same financial plane as the game’s top clubs.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about Spurs’ presence on Forbes’ esteemed list of football’s top-20 most valuable clubs.
Forbes claim that Spurs, who are one of 11 Premier League sides to make the list which was published earlier this month (9 September), are worth just over £2billion.
But while several other clubs in Europe eclipsed their value, only two could better the Londoners’ annual operating income of £112m.
But Plumley explained that, while still a positive number for Spurs, the figure may be a little misleading.
“Operating income is earnings before interest, taxes, depreciation and amortisation, player trading and disposal of registrations,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
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“So, we have to contextualise this. If you look at some of the biggest clubs on this list, you have to take into account their transfer market activity. They might have sold or bought a lot of players, which impacts their place on the list.
“And, furthermore, you have to look at the wages they are paying. Do they have a bunch of stars on major contracts? How are those contracts amortised?
“So, this isn’t necessarily saying Spurs are £112m better off than, say, Barcelona. However, it is still a good figure for them.”