Tottenham transfers for the next five years laid bare by Times report, fans will be horrified
By Harry Sykes
Tottenham are facing up to five years of restricted activity in the transfer market, according to a report.
The Times claim the costs of the club’s stadium redevelopment will adversely affect recruitment in the same way as it did to Arsenal a decade earlier.
In a warning which will horrify Spurs supporters, it is said that “the funds available to Mauricio Pochettino for transfers will be limited for the next five years”.
The Times report that Spurs are committed to borrowing nearly half of the £750million rebuilding of White Hart Lane, with a £350million funding package agreed with investment banks HSBC, Goldman Sachs and Merrill Lynch.
The rest of the funding will come from advanced ticket sales, a ten-year ground rental arrangement with American Football ruling body NFL and a possible naming-rights deal.
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This means the total cost of borrowing for Tottenham’s new stadium, which will be built adjacent to the historic home of the last 118 years, will be £90million more than Arsenal.
Spurs’ old foes moved into Emirates Stadium in 2006 and were severely restricted in the transfer market over at least the following five years.
Arsene Wenger’s spending over that period was dwarfed by the likes of Manchester United, Chelsea, Manchester City and Liverpool.
Pochettino, who signed a five-year contract last May, is facing similar restrictions despite the revenue advantages that the new stadium will bring.
It means Tottenham will be unable to sign the big names that fans crave and they will have to likely continue their policy of snapping up the best youngsters for Pochettino and his coaching staff to mould into first-team stars.
Spurs’ annual accounts for the year ended June 2016, as posted on their official website on Wednesday, highlight healthy finances and a ‘net cash’ sum of £47.6million.
Most tellingly of all, Tottenham made a record profit after tax in 2015-16 of £33million, as well as an increased in turnover to £209.8million.
Spurs currently sit second in the Premier League and are on course to qualify for the Champions League for the second consecutive season.
Mauricio Pochettino’s side return to action on Saturday when they travel to Burnley for a Premier League fixture aiming to keep their slim title hopes alive.
In other Tottenham transfer news, the London giants have won the race to sign a 32-goal striker who has taken the league by storm.