Tottenham owners would be ‘big losers’ as £100m injection required after relegation – Stefan Borson
Tottenham Hotspur’s owners will be the “big losers” if the club are relegated from the Premier League this season.
That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider a £100million injection is likely to be required in the Championship.
Tottenham are majority owned by ENIC, with the Lewis family’s shares in the British investment company worth 70.12 per cent and former executive chairman Daniel Levy holding a 29.88 per cent stake.
Spurs have given themselves a chance of avoiding relegation after picking up two wins on the bounce in the Premier League, moving them above West Ham into 17th place.
Tottenham’s financial situation would receive a significant boost if they can manage to secure their top-flight status over the coming weeks.
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VISIT THE FINANCE HUBHow Tottenham’s owners could respond to relegation
Spurs posted their accounts for 2024-25 in March, showing their revenue improved from £528m in 2023-24 to £565m last season.
However, Tottenham’s revenue could drop by around £200m if they were to lose their Premier League status.
| Financial metric | Value |
| Commercial revenue | £277m |
| Broadcast revenue | £162m |
| Matchday revenue | £126m |
| Total revenue | £565m |
| Wages | £256m |
| Pre-tax loss | £95m |
| Other expenses | £202m |
Speaking exclusively to Football Insider, Borson discussed what relegation could mean for the north London giants’ finances.
“I would expect them to win the Championship very comfortably,” said Borson.
“It’s extremely unlikely that they would have a problem that meant that they had multiple seasons in there. One season out of the Premier League is not going to be the end of the world for the club.
“Of course, it’s going to be painful, but really it’s going to be painful for the ownership. The ownership will effectively have to fund it let’s say by another £100m in that season, so they’re going to be the big losers.”
How Tottenham’s finances would be impacted after relegation
Borson revealed how Tottenham’s broadcast revenue would drop if they were to be relegated to the Championship.
“The club will have to have a reset,” said Borson.
“It will be a complicated thing for them to adapt to because every aspect of the club is set up for the Premier League and Premier League revenues.
“If they did get relegated, not only are they going to drop the 50 per cent of TV money on the parachute to about £55-60m of broadcast revenue, they’re also going to lose probably about £80m of Champions League revenue.
“It’s going to be an enormous hit to revenue. There’s just no question about that.”
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