Tottenham Hotspur’s deal to sign Souza from Santos has already produced off-pitch effects in Brazil, as the club moved quickly to bring forward its share of the transfer fee to ease cashflow pressure.
Santos used an international banking operation to bring forward the money owed by Tottenham. As a result, the club secured immediate access to the funds instead of waiting for instalments.
The structure follows a similar move made in 2024, when Santos anticipated income from striker Marcos Leonardo’s transfer to Benfica.
Upfront Tottenham funds secured through international operation
From the total fee paid by Tottenham – around £15.7m (€18.5m) – Santos are entitled to 87.5%. That share amounts to just over £13.7m (€16.2m), which the club received upfront through the banking deal.
The interest rate stood at 3%. Internally, Santos consider those terms favourable given the club’s financial position.
Tottenham’s financial credibility played a decisive role in the process. The low perceived risk allowed Santos to structure the operation outside Brazil and secure better conditions than those usually offered domestically.
Behind the scenes, club officials see the anticipation of future receivables as one of the few viable ways to keep the club operating in the black at this stage.
Limits of the strategy and payment risk
Club sources admit the strategy cannot apply to every sale. The bank released the funds with limited requirements largely because of Tottenham’s reliability.
In contrast, Santos failed to advance a similar operation in the past. During negotiations involving Nottingham Forest centre-back Jair Cunha last year, concerns over payment risk stopped the process from moving forward.
Debt pressure and financial restructuring
The move comes at a delicate moment for Santos. The club’s total debt stands close to £165m (€195m), while annual revenue sits around £79m (€93m). That imbalance leaves little room for manoeuvre.
At the same time, Santos recently extended its agreement with an investment fund for another six months. The firm helps manage cashflow and financial planning during the restructuring process.
For Tottenham, the episode underlines how their financial standing continues to carry weight abroad, even after the transfer itself has been completed.