Tottenham Hotspur and Chelsea are soon set to do battle on the pitch in the Premier League, but the two London clubs are also set to go head-to-head off the pitch in regards to PSR.
Just like on the pitch and in the stands, notoriously, Tottenham Hotspur and Chelsea rarely see eye-to-eye at boardroom level.
In terms of spending power, the two clubs are quite the opposite, with the Blues well known for flexing their financial muscle; meanwhile, Spurs are a lot more frugal with their outlay.
Therefore, it is no wonder that Chelsea and Tottenham are split over PSR, and ahead of this weekend’s Premier League clash, TBR Football spoke to the site’s head of finance, Adam Williams, about why they are quite so divided.
The ‘Premier League is more divided than ever’ following the Man City case
In the aftermath of Manchester City’s 115 charges, the ‘Premier League is more divided than ever’ away from the pitch, according to Williams.
One of the biggest divisions is where clubs sit on PSR, and in the near future, there is set to be a shareholder meeting to vote on the matter.
Discussing the situation, TBR Football’s head of finance stated: “There are two kinds of rivalries in the Premier League when it comes to the relationships between big clubs: 1) on the pitch and 2) behind the scenes.
“The fallout from Manchester City’s financial charges, the Associated Party Transactions case and differences on matters such as state ownership mean the Premier League is more divided than ever.
“Broadly speaking, there are two loose factions, and Spurs and Chelsea are certainly in opposing camps.
“They have cooperated when it is in their shared interests to do so, such as when it came to the European Super League. In terms of the distribution of prize money, the fixture calendar, the Independent Football Regulator and so on, they are broadly aligned.
“However, Spurs and Chelsea don’t agree on PSR, which is the defining issue of the current era.”
Tottenham and Chelsea’s PSR disagreement
It will come as no surprise that Tottenham and Chelsea are in disagreement over PSR, given the difference in the way both ENIC and Clearlake Capital operate.
The North London club are keen on stronger rules being put in place, whereas the West Londoners are very much opposed to such restrictions.
Williams went on to add: “Spurs would be quite happy to have a stronger PSR system. At the upcoming Premier League shareholder meeting, for example, I expect them to vote in favour of the new anchoring rule, which will limit spending to a five-times multiple of what the bottom-placed clubs earn from the Premier League.
“Why? Because, unlike Chelsea, Tottenham’s owners don’t want to have to put any more money into the club. True, they have injected a bit more cash recently.
“But in 25 years of ownership, ENIC have only put their hand in their pocket on three or four occasions. On the whole, they spend what they earn – and the presence of clubs that go beyond their means makes it harder for them to compete using that model.
“Chelsea are at the opposite end of the spectrum. The owners have pledged to invest £1.75bn in the team and infrastructure. And the club is running operating losses of £200m-plus every season at the moment.
“That’s why they are in trouble under UEFA’s spending rules, which don’t have as many loopholes as the Premier League’s. So I would expect them to vote in favour of more lenient PSR measures.”