You sound like my girlfriend/parents/friends/boss/psychiatrist
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Daniel Levy
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I think that's probably closer to the mark than anything else written here.
Somebody pointed this out earlier and it hasn't really been spoken about enough.
How can any chairman of a football club of our size, with our fanbase and our wealth oversee a 17th place finish, avoiding relegation by just 1 position.....after 25 years in charge....
..., and expect to keep his job!
That must have been the final nail in his coffin. And deservedly so.
How can any chairman of a football club of our size, with our fanbase and our wealth oversee a 17th place finish, avoiding relegation by just 1 position.....after 25 years in charge....
..., and expect to keep his job!
That must have been the final nail in his coffin. And deservedly so.
At the end of the day, it was a gentleman’s agreement between Joe and Daniel. “I’ll front up the money to buy it, you develop it and I won’t interfere, and when the time comes to sell it we both profit.”
There’s something delicious in that ultimately Levy was brought down by a gentleman’s agreement. He never had it in writing.
But we’ve been told so many times by the Levy in people that it’s manageable debt at low interest blah blah. So are we moving to the unsustainable levels now? Please tell me how every other club on the same income and even below us manage? The goalpost just keep being moved to suit a certain narrative from what I can deduce .And 3rd highest in the list of clubs with debt..
In the 2023/24 financial year, cash reserves dropped from £174 million to £79 million, pushing net debt from £677 million to £773 million.
Football Clubs With the Most Debt in 2025
Barcelona continue to top the football clubs with the most debt in 2025, with the Spanish club surpassing the €2bn mark.www.sportscasting.com
Because the debt on the stadium at historical low increments is actually considered good debt, yep seems illogical but it makes us more not less attractive to buyers.
I think Sugar was getting out of his depth towards the end. Football was changing from a millionaire's game into a billionaire's game and we needed an ownership model with a bigger vision than boom and bust retail. If we had continued with Sugar beyond Y2K, we would have been relegated within five years.
They may have been turning a small profit, but the liquidity from this period was in steady decline.
I know a lot of the debt is long term at low interest but if the club have so much money and is so rich why have Tottenham Hotspur Football & Athletic Co. Limited taken out some sort of loan on the 29th August with MACQUARIE BANK LIMITED, LONDON BRANCH, a companyregistered in the Australian Capital Territory, registered in England and Wales with company number FC018220, acting through its London branch at Ropemaker Place, 28 Ropemaker Street, London EC2Y 9HD (the "Lender").
All the info is at Companies House.
Probably a loan against future income to ease cash flow concerns, as I think we had a substantial sum due this summer in player acquisition instalments.
Some keep claiming we are the 9th richest club in football, not exactly accurate , we have the 9th highest revenue in football so it's not quite the same is it, we are finacially sound but I am not quite sure who is the richest , the club with the most cash in the bank I would have thought with no debts.
The stadium debt is covered for 20-30 years by bond issuance. Investment banking, essentially it makes no difference, however it might cap what we are allowed to do if we want to raise money etc, much like if you had a massive mortgage in interest only repayments.
Because 500M is long term and low interest and fully funded by the stadium revenue increases - which still create a massive net profit. Fair point on the shorter debt but that’s low when you carve out the long term mortgage of the stadium (good debt)
They don’t have a 1B loan to pay off. We are restricted to what we can do as we are not friendly to people that want to loan us money. Regardless of whether we have it guaranteed we won’t get favourable loans. The financial debt markets are a mess meaning it’s not straight forward
They've done it to start acting like a big club. Lots of clubs take out loans tat good rates. Frees up more cash. Lots of our cash went into Tottenham holding or whatever it was for property development. Now we can do both if desired.
It's a tiny amount of money per year, spread over like 25 years at inflation busting rates. The stadium debt gets paid back after the equivalent of two home games revenue. Or, a concert or two. The debt is good debt.
Yeah, I agree with you here.. The debt is an eye-watering sum - yes - but it's financed on very attractive terms and the relative pace of growth in revenues and financing available to top-level clubs far outstrips the immediate obligations.
It was very sharply set up, and the stadium itself is a cash cow. The only time it was a problem was during covid lockdown, when the stadium stood empty.
The club is set for success, it just needs more effective and insightful management in the sporting realm.
If you were really Levy out you wouldn't be against a supporter group organising protests against the way the club is run, and basically calling for Levy to be out.
You also like to try and negate the article about Rangers when Levy is quoted as saying in his own words that football is a cash cow.
Good spot. We know that the club was struggling with cash flow a few months ago so this could well be in relation to that. Clubs do take out loans so that they can buy players. It’s one thing I’ve suggested we do.
I’d suggest it’s part of the real reason Levy has been let go. He wasn’t running the club as well as is perceived financially.