City AM

Tottenham Hotspur have taken out a £90m loan from Australian bank Macquarie in a move that improves the heavily indebted Premier League club’s cash flow.

Spurs have borrowed the sum against future media rights revenue that they are due to receive from the Premier League during the current season.

Such loans are not uncommon even in the top flight of English football and typically reflect a short-term squeeze on liquidity resulting from outgoings. Bloomberg first reported the loan.

Tottenham spent heavily in the summer transfer window, committing around £180m on new signings including Xavi Simons and Mohammed Kudus, before wages and agent fees are taken into account.

Spurs also have long-term debts which stood at more than £750m at the last count, much of it in long-term financing related to construction of their stadium.

The Lewis family, which majority owns the north London club through company Enic, ousted executive chairman Daniel Levy in a surprise move last week, although there is no suggestion that decision was related to the Macquarie loan.

It led to fresh speculation that Enic could sell Tottenham, who are valued at around £3.5bn, although the Lewis family shot down sale talk earlier this week.

Spurs owners ‘know club needs investment’

They also revealed they had “received, and unequivocally rejected” proposals from financier Amanda Staveley’s PCP International Finance Limited and US-Chinese consortium Firehawk Holdings Limited.

“The Board of the Club and Enic confirm that Tottenham Hotspur is not for sale and Enic has no intention to accept any such offer to acquire its interest in the Club,” they said.

Spurs chief executive Vinai Venkatesham added on Monday that it had been made “unambiguously clear that Tottenham Hotspur is not for sale”.

“I think it is very fair to say that we have firm backing from the Lewis family against our ambitions to be successful on the pitch, both on the men’s side and women’s side,” he said. “They know that’s going to require investment, and we have their firm backing.”

What next for Tottenham Hotspur after Daniel Levy departs?

When it finally came, Daniel Levy’s departure as chair of Tottenham Hotspur took everyone by surprise – even those within the club.

On Thursday, just before 6pm, Spurs announced that the man tasked with running the club for the Lewis family for almost a quarter of a century was stepping down.

Before the evening was out widespread reports emerged that the Lewis family had forced the move, which followed a summer of boardroom upheaval in N17.

First, former Arsenal CEO Vinai Venkatesham was hired in the same role, then Levy’s right-hand woman, Donna-Maria Cullen, left after three decades at the club.

Soon after, chief football officer Scott Munn was shown the door, while Levy’s exit has seen former Citibank boss and long-time Lewis ally Peter Charrington appointed non-executive chairman.

It has led to a growing feeling across the game that Tottenham are being prepared for investment and perhaps even a full takeover.

Why Spurs are attractive to buyers

On paper, the club is already an attractive asset – in large part due to the money-making potential of their stadium, which also hosts NFL games and high-profile concerts.

That has helped to make Spurs the ninth richest club in the world, according to Deloitte’s most recent Football Money League, which ranks teams by revenue.

On top of that, naming rights to the Tottenham Hotspur Stadium remain unexploited, not least because Levy was unable to achieve the sponsorship value he had hoped for.

They are also basking in the glow of a first major trophy for 17 years, having won the Europa League last season, and have a highly-rated manager in Thomas Frank.

The club are valued in the region of £3bn to £3.5bn, although given the scarcity of Premier League teams and rising valuations across sport, could command more.

Why Levy exit makes sale easier

Levy’s departure makes a sale of some kind easier – and perhaps necessary, given that he effectively owns a significant chunk of Spurs.

He has just shy of 30 per cent of equity in Enic, the Lewis company which controls Tottenham through its 86 per cent shareholding.

Given that he has effectively been pushed out of the club he has shaped for 24 years, it is hard to see Levy hanging onto involvement – lifelong Spurs fan or not.

His absence may also increase the appeal of an investment in Tottenham; his famously iron will combined with his equity would have made him a potentially tricky partner.

Now Spurs have a more conventional corporate structure, with CEO Venkatesham running day-to-day matters and reporting to non-exec chair Charrington.

Who could buy Tottenham?

Several suitors have shown interest in buying into Tottenham in recent years, from existing football owners to big players in the sport investment space.

Qatar Sports Investments, owners of European champions Paris Saint-Germain, held talks with Levy about buying a minority stake in Spurs more than two years ago.

QSI baulked at the price tag, however, and dropped its interest. It is not expected to revive it, preferring to pursue a deal to buy Malaga in Spain’s second division.

Former Newcastle United minority owner Amanda Staveley has also been linked with assembling an offer for Tottenham since leaving St James’ Park last year.

The US, however, is seen as the most likely source of proposals, given the sheer volume of private capital that has flowed across the Atlantic in the last few years.

Jahm Najafi of MSP Sports Capital was reported to have offered a deal of £3.1bn earlier this year, in conjunction with investors from the Middle East.

Tottenham Hotspur have the chance to bag €5m (£4.3m) in prize money as they face PSG in the Uefa Super Cup on Wednesday.

Spurs are set to receive €4m (£3.4m) regardless of the result, but a win against the Ligue 1 champions would add an extra €1m (£0.8m) to the prize pot.

The Uefa Super Cup is an annual match played by the Uefa Champions League and Uefa Europa League winners.

Spurs’ Europa League triumph

Tottenham Hotspur booked their place in the competition by lifting the Europa League trophy with a 1-0 win in an all-English final against Manchester United.

PSG are facing Spurs as the reigning Uefa Champions League holders. Luis Enrique’s side won their maiden Champions League trophy by thrashing Inter Milan 5-0 back in May.

The Uefa Super Cup prize money could come in handy with Spurs linked with several transfer targets over the summer, most recently Crystal Palace’s Eberechi Eze and Manchester City’s Savinho.

However, the sums pale in comparison with the financial rewards Spurs got from winning the Europa League.

Tottenham’s triumph in the European competition was estimated to be worth £124m, including prize money, ticket income and qualification to the Champions League in the upcoming season.

The Uefa Super Cup gives Thomas Frank the chance to win a trophy on his first competitive game as Spurs manager. Frank joined the North London club from Brentford back in June.

This year’s Uefa Super Cup will take place at the Bluenergy Stadium in Udine, Italy.

The 2024 edition was won by Real Madrid, who defeated Atalanta 2-0 in Warsaw, Poland.

Tottenham Hotspur director Cullen steps down after 30 years’ service

Tottenham Hotspur have announced further boardroom change this summer with the resignation of highly regarded executive director Donna-Maria Cullen after more than 30 years’ service.

Cullen, 62, began working for the club as an adviser in 1992 before joining the board in 2006 and has been a key member of chairman Daniel Levy’s operation.

Her departure comes as former Arsenal CEO Vinai Venkatesham takes up the same post at local rivals Spurs, who are also mulling the future of manager Ange Postecoglou.

“This has been such a hard decision to make. The club has been my life for the past three decades,” said Cullen.

“I have had the privilege of working with Daniel, whose vision and energy has driven the club forward, and so many talented and wonderful colleagues.

“It has been quite some journey, starting at White Hart Lane, with a brief stay at Wembley and finally our new home – amazing memories home and away. Ending this season with the Europa League trophy was a dream come true.

“The time is now right for me to gather more time for myself and my family, whom I thank for all their support over the years. I shall spend the coming months ensuring there is a smooth handover with my staff. Thank you all. I wish everyone at the club all the success in the world.”

Cullen steps down with the club on a high from their success last month in the Europa League, which secured their place in the Champions League next season.

Prior to joining Tottenham she worked in management consultancy and corporate affairs, including for Lord Bell’s group of companies, Chime plc.

Cullen ‘instrumental’ in Tottenham stadium

“Donna has made an immense contribution to the club, over an extensive period. Her diverse responsibilities grew significantly and replacing her roles with a single individual will be impossible,” said Levy.

“While many may associate her primarily with marketing and communications, Donna’s impact extends far beyond those areas.

“Notably, her leadership and political acumen at planning committees, was instrumental in the club being able to build one of the finest stadiums and training centres in the world.

“She deserves recognition for the contribution she played in the formation of the Tottenham Hotspur Foundation, which has positively impacted countless individuals in our communities, and in establishing the London Academy of Excellence, providing children with exceptional educational opportunities.

“Donna has pushed the conscience of the club to be at the forefront of environmental and diversity initiatives. She also played a crucial role in supporting the amateur part-time Spurs Ladies, enabling the development of our professional women’s team.

“Her daily input will be greatly missed, however she fully deserves to take time for herself, and I know that we shall be able to call upon her advice when needed. We wish her well for the future.”

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You’ll be supported by our award-winning event staff and, if desired, can add referees, mascot appearances, and bespoke team kits to bring your game to life. There’s even the option to be managed for the day by a Spurs legend! Post-match, unwind in The Tunnel Club – our exclusive premium pitchside lounge – with full catering options tailored to your group’s. Want to go bigger? Opt for a trophy presentation, professional photography, and even stadium tours for a fully immersive day.

Whether you’re marking a company milestone, building camaraderie, or just treating your team to an unforgettable away day, our Play on the Pitch sessions offer the ultimate experience in an iconic setting.

Tottenham Hotspur Stadium is more than just a football ground; it’s a state-of-the-art event destination in the heart of North London. The first of its kind built for dual football and NFL use, it blends innovation, luxury, and versatility across its event spaces.

From the cutting-edge conference spaces and purpose-built NFL Locker Room to private suites overlooking the pitch, the stadium has been built as a multi-purpose events destination. And with excellent transport links, on-site catering by award-winning chefs, and technology to support everything from product launches to team-building sessions, it’s no surprise the stadium is one of London’s best for conference and events offerings.

Lace up your boots and experience the thrill of playing a match on the iconic pitch at Tottenham Hotspur Stadium. These unique events will be taking place on Tuesday 13th and Thursday 15th May 2025.

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Tottenham Hotspur chairman Daniel Levy has hit out at the club’s transfer spending critics after the north London club made a loss after tax of £26.2m last year.

The figure is a reduction on the £86.8m loss suffered in 2022-23 and the accounts for the year to 30 June 2024 showed a huge decrease in Uefa prize money from £56.2m – when the club reached the last 16 of the Champions League – to just £1.3m, in the season Spurs failed to qualify for European competition.

Chairman Levy said: “Since opening our new stadium in April 2019, we have invested over £700m net in player acquisitions.

“I often read calls for us to spend more, given that we are ranked as the ninth richest club in the world. However, a closer examination of today’s financial figures reveals that such spending must be sustainable in the long term.”

Spurs revenue streams

The 63-year-old, who has held his position at Tottenham since 2001, added that the club “cannot spend what we do not have” and will not “compromise the financial stability of this club”.

Much of the club’s loss of income from football has been cushioned by revenue gained from hosting events such as the NFL, rugby and concerts – including a run of Beyonce shows which will return this summer.

The club last year received local authority permission to increase the number of non-football events at the stadium to 30 per year, and will this month host the high-profile boxing bout between Chris Eubank Jr and Conor Benn.

“I want to thank everyone who supports us through good times and bad. We are resilient and passionate about our club,” Levy concluded. “We shall aim to finish this season as strongly as we can and continue to build for success on the pitch.”

Spurs are 14th in the Premier League, 15 points off the top four with nine games to play.

Elsewhere, Everton recorded a seventh straight loss. Though their £53m deficit is lower than the £89m sum from 2022-23, the club’s total losses over the last seven years are now £570m.