Tottenham 'to lose £100m' as Stefan Borson hits out at 'nonsense' transfer budget claim
Tottenham Hotspur will lose upwards of £100million in revenue after a disastrous 2025-26 Premier League campaign.
That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider that no Champions League, or any European football for that matter, will hit the club hard next term.
There have been claims that, due to missing out on European football, thanks to a 17th-place finish in the league, that Roberto De Zerbi will have more cash to spend during the summer.
Despite early deals for Jan Paul van Hecke, Andy Robertson and Marcos Senesi, that couldn't be further from the truth, with funds set to drop significantly in North London.
Spurs continue to be linked with big-money transfers, but multiple stars are also being tipped for exits, and the owners may have no choice but to cash in ahead of the 2026-27 campaign.
De Zerbi wants to be backed by the owners in the summer market, but the Lilywhites' transfer window is likely to hinge on how many players walk through the exit doors over the coming weeks.
Tottenham transfer budget claims are 'nonsense'
Speaking exclusively to Football Insider, Borson explained why Squad Cost Ratio (SCR) is unlikely to play into Spurs' transfers this summer, despite the ability to spend more.
"They've got no Champions League, so revenues are going to be hit quite hard. With squad cost ratios, they should be fine," he said.
"They can do 85 per cent because they've got no Europe, but of course, they've also got much lower revenue.
"Some of the stuff I've heard about that is just... It doesn't make any logical sense. The idea that it's like a loophole that they've got 85 per cent next season is just nonsense.
"It's 85 per cent, but of a much lower revenue number. So, broadly it's the same budget. They've just got lower revenue. You're going to lose £100m minimum, probably, versus this season.
"There's no Champions League or other UEFA revenue. They're going to be heavily down on revenue. But yes, they can spend 15 per cent more of that heavily reduced revenue number."
For context, those in Europe, such as Aston Villa, Manchester City and Liverpool, have an SCR of 70 per cent, rather than Spurs' 85 per cent.
Who could Spurs sell to free up funds?
With Spurs making no mistakes with their early deals, it would not be a surprise to soon see multiple stars heading for the exit doors.
Cristian Romero is expected to leave, likely for Real Madrid or Atletico Madrid, with some question marks remaining over Micky van de Ven's future.
Lucas Bergvall already wants to leave in search of more game time, which presents the chance to make some decent profit, while Yves Bissouma, and Pape Sarr are free to leave.
Guglielmo Vicario could also be replaced in between the sticks, with Spurs fans desperate for a Dominic Solanke upgrade, and especially a non-injury-prone one.