Turbulent would probably describe the current times at Tottenham Hotspur Football Club, with long-term CEO Daniel Levy having been brutally removed from his post, and the Lewis Family stating that the club was not for sale.
Now Bloomberg says that the club is marching to a different tune, and the first of the changes includes a receivables financing deal with Macquarie Group Ltd, thought to be worth around £90 million.
:Tottenham, which has been losing money after constructing a new stadium, agreed to give the Australian lender income from future broadcasting rights for a lump sum of cash, according to people familiar with the matter. The rights are tied to money due to the club from the Premier League from December 2025 to May 2026, said the people, who asked to not be identified because the details are private”
This is not a unique deal; previously, Nottingham Forest took a loan option with Macquarie, although this was contingent upon a player sale.
What fans are looking at here is a new and hopefully improved playbook, whereby the ownership of the club is no longer in question. The Boy Hotspur understands that one of the key decisions in removing Daniel Levy was his drive to sell all or some equity was based upon his significant share ownership. Placing his own benefit ahead of what might be good for the club and supporters was viewed by the Lewis family as insufferable.
As far as the future is concerned, the club are clearly looking to reposition itself both in terms of stability, and to lose the mockery dished out regularly by bookmakers etc.
Recently, Spurs fell to ninth place in the Deloitte Money League of European sides.
Levy faced years of protests from supporters, who accused him of prioritising profits over ambition (e.g., frugal transfer spending and tough negotiations). His reputation as a shrewd but unpopular negotiator was well-known in football circles.