Tottenham’s owners want to stop putting their ‘own money’ into the club – ‘it’s surprising’
Tottenham’s owners have made a surprising financial decision just a couple of weeks after the sacking of Daniel Levy.
On September 4, Levy was removed from his role as executive chairman after 24 years in the position.
A week later, it was confirmed that Tottenham would be receiving £90million through a financing deal with Macquarie Group Ltd.
Spurs have agreed to give the Australian lender a percentage of their future Premier League broadcasting rights revenue, in exchange for an immediate sum of money.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that despite it being relatively normal practice to take out loans, this situation is particularly surprising.
Tottenham owners want to stop funding the club
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that the club will be getting a big interest rate on their loan from Macquarie Group, and questioned why the owners are not putting their own cheaper money in.
Following Levy’s departure, Tottenham have pushed back on rumours of a takeover, making it clear that there will be no sale.
Wyness added that the Spurs owners are looking to make the club a standalone business that runs itself, rather than needing heavy investment.
He told Football Insider‘s Inside Track podcast: “Macquarie Bank from Australia have been one of the big lenders. I’ve also worked with them in the past. It is quite common in football these days to do this.
“The big sign for me though is that we’ve seen the Lewis family coming in and making the big decision about Daniel Levy, if we’re to believe that.
“Then the question is, if you’re getting money from Macquarie Bank against outstanding receivables, which is quite normal, but you’re paying a big interest rate on that, then why wouldn’t you put your own money in, as it is presumably cheaper money?
“That surprises me, but of course, they want to now make it stand alone as a business and run itself, rather than put their own money in.
“Still, I think that would have pleased a lot of Spurs fans if they’d put in some of their own money in. But this is normal practice, it’s nothing unusual, lots of clubs do it.”
Premier League clubs race for Tottenham midfielder
Meanwhile, West Ham United and Everton are both likely to reignite their interest in Yves Bissouma when the transfer window reopens, sources have told Football Insider.
Bissouma has been frozen out at Tottenham following the appointment of Thomas Frank over the summer.
The Mali international had the chance to move to Turkish giants Galatasaray, but rejected the switch, as he wants to remain in the Premier League.
Sources say that West Ham and Everton could both be in the race for the 29-year-old in January, as he now seems certain to complete a move away from North London.
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