The New York Times has been looking at what would happen should Tottenham Hotspur be relegated. I should preface this report by saying:
· The forthcoming lunar mission will confirm that
the moon is indeed made of cheese
· The Pope will confess that he is not a Catholic
· Bears will reveal they prefer using a Portaloo
to the woods
I don’t think Spurs will be
relegated, but what would be the implications if the unlikely happened?
They are the ninth-wealthiest team in the world game,
according to Deloitte, with revenue of €672.6million in 2024-25 — around €88m
more than the next-richest, London rivals Chelsea. After reaching the upcoming
round of 16 in the Champions League despite their domestic struggles, that
number is in line to increase this season. No club in the 34-year Premier
League era have recorded more than £200million in single-season revenue and
gone down.
While their current wage bill would dwarf any in
Championship history, Tottenham’s relative frugality in terms of salary
spending means they are in a comparatively better position than some of their
competition in the event of relegation. And as covered above, many of the
highest earners would surely depart, whether on loan or for large transfer fees
— though Spurs’ weak bargaining position could mean such players leave for
reduced fees or require the club to pay a wage contribution. It is not yet
clear whether Tottenham have inserted relegation clauses into first-team contracts.
And their stadium, which is set to host Tyson Fury’s return
to boxing in April and a Bad Bunny concert in June, as well as the regular pair
of NFL games in the autumn, is a huge money-spinner. Relegation would have a
limited impact on such operations outside football.
Though dropping to the Championship may not pose an
existential threat to the north London club, television, matchday and
sponsorship revenues will decline considerably.
The Premier League’s UK rights deal is worth £6.7billion for
the years 2025-29, with U.S. rights holder NBC paying £2bn for rights through
2028. The EFL’s deal with Sky Sports, in comparison, is worth £935m over five
years. Needless to say, Tottenham would need to bounce back from relegation at
the first time of asking to minimise the long-term harm.
Industry sources, speaking anonymously to protect
relationships, say they would not be surprised if the club were thinking of
looking for alternatives to the Hong Kong-based insurance company, which will
become the club’s training kit partner from July 2027 until 2032. With a
reduced global audience in the Championship, Spurs would likely renegotiate
deals with other existing partners or secure new short-term sponsorships.
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