Insider reveals how Lewis family have actually funded Tottenham's extraordinary signing spree
Tottenham Hotspur may have used their recent bank loan from MacQuarie to help fund their extraordinary summer transfer business.
That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that the Lewis family haven't been spending all of their own money in the market.
This comes after an eye-watering summer of investment saw them spend around £320million on new additions to Roberto De Zerbi's squad.
The exact value of their recent loan from MacQuarie remains unclear, but Wyness is adamant that they cannot continue to rely on borrowing long-term.
The Scottish businessman is clear that loans could spell trouble ahead for the Lilywhites if they allow it to become a regular "habit."
He outlined that their new deal with the Australian bank should not provide cause for concern for now at least.
Keith Wyness explains 'clever' Tottenham investment
Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that the loan from MacQuarie has been a "clever" way for Spurs to help supplement their own spending.
The Lilywhites have added 10 new faces to their squad this summer, and their initial loan deals for Omar Marmoush and Mykhailo Mudryk also contain significant purchase options.
Speaking on the latest edition of Football Insider's Inside Track podcast, Wyness explained why loaning from MacQuarie could become an issue for the club long-term.
"It's very commonplace. I've done it. Lots of clubs do it still. It's a regular thing now to factor forward some money from the payments you're going to be receiving," he said.
"Spurs have been spending a lot of money. I think it's about getting up towards £320m by the time all these deals are done, which is a big number.
"But they've obviously been either contributing the money themselves or they've been using situations like MacQuarie to do this as well. So they've been quite clever and quite canny in the way that they brought the money in.
"The only thing I'd say is that when it starts becoming a habit, and you start doing this before every season, and you're factoring forward all your income, that's not the best habit to get into.
"Somebody with the vast wealth of the Lewis family, I would expect them to wean themselves off this sort of thing if they can."
Tottenham have overpaid for their 10 signings
Former Spurs scout Bryan King told Football Insider on Wednesday that he feels his former club have "overpaid" for many of their summer signings.
The former recruitment man labelled the £100m fee for new midfielder Sandro Tonali as "hugely overpriced," and questioned who had signed off on the deal.
King suggested that the Lilywhites have paid "silly money" for some of their additions, compared to what they are arguably worth.
De Zerbi's men have endured a poor start to the season, and the manager will be under pressure to turn their fortunes around.