You might need to read up fella - we never got the full money for Gazza due to his knee injury and had a debt of £11m when Sugar came in - that size debt was significant at the time.
His own financial advisers advised against buying the club - it made zero sense as we didn’t make money and weren’t very good.
Sugar financially stabilised the club - he effectively built the foundations that ENIC were the. Able to build on further.
Link backs up what I’m saying
Lord Alan Sugar took over a club in a mess. But did he help it progress or stagnate? The Athletic talks to those at the heart of his era
theathletic.com
Cheers. The £11m debt was restructured when Sugar arrived, that’s his achievement, not that he rode in wrote off the debt off and saved us from selling our better players.
The deal that bought him to the club was Sugar £3.5m. Venables £3.5m for a 35% stake. The club at the time was a PLC and Midland bank had ( as best I can recall ) already extended our operating overdraft ahead of their deal, not because of the deal and what he did enabled the terms of the overdraft to be changed.
Sugar has subsequently claimed to have invested £8m, but aside from his own word no evidence seems to exist to support that claim.
Sugar was worth £157m at the time he got involved in Spurs. From memory
and public information, again, there is no evidence of his personal money going towards Spurs and our on field activities at any point in his ten years as Chairman.
Within 12 months of his arrival the Premier League / Sky deal gave every club sums of money never previously never known. That immediately put Sugar (and El Tel) in considerable profit on their original investment. But that deal also had the knock on effect effect of giving the “lesser” clubs more resources to compete with the established “big 5”.
Within a few years players like Ravonelli were @ Boro ! While Sir Alan in his best little Englander voice decried “Carlos Kickaball” and refused to pay wages that at the time were necessary.
So indirectly his involvement in the Sky deal weakened an already weakened Spurs. What followed was years of squad fluctuating and flirting with relegation on a fairly regular basis. Awful / tone deaf football decisions and making Spurs a little big club, something that continues to smell around us to this day.
Sugar was “inconsistent” ( being kind ) before walking away with £28m minimum. Our saviour he was not !
Gazza was sold @ £7.9m, which partly to satisfied the midland bank. This fee was reduced to £5m due to his injury (with £4m coming upfront from Lazio)
At the same time, under Sir Alan. Walsh / Stewart and Lineker were sold, which would
seem to have helped plug that £2.9m difference. I think Durie arrived for over £2m at the same time though.
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