TBR Football

Cristian Romero is far from the first person involved with Tottenham to document their frustrations with Daniel Levy and ENIC, the club’s owners since 2001.

In recent years, there have been thinly veiled digs from the likes of Jose Mourinho and Antonio Conte, who criticised the prevailing culture at Spurs in broad terms.

Then there has been less subtle rhetoric from supporters, many of whom have grown weary of what they see as the club’s prioritisation of revenue over success on the pitch.

Since the move to into the Tottenham Hotspur Stadium in 2019, Spurs’ revenue has almost trebled compared to their last season at White Hart Lane. But still no silverware.

There have been a couple of near misses in that time – the Champions League final defeat to Liverpool in 2019 and League Cup loss to Man City two years later – but not the glory that fans crave.

After one win in their last six matches, albeit an impressive on against Manchester City, their chances of a podium finish in any competition under Ange Postecoglou this season look slim too.

In fact, they are now the same number of points from the bottom of the Premier League table as they are to the top.

Daniel Levy and ENIC, who together control the vast majority of Tottenham’s equity and voting rights, would argue that is not because of a lack of investment.

The accounts show spending on amortisation (how clubs account for transfer fees over time) and wages have indeed risen every season since 2018-19, reaching a combined £360m in the last financial year.

However, the gap between revenue and player costs is growing wider. Spurs’ squad cost is also the lowest of any of the so-called ‘Big Six’ clubs.

What’s more, as a percentage of revenue, Spurs have the lowest squad cost in the whole top flight. In fact, they are complete outlier in this metric.

They spent 66 per cent of revenue on wages and amortisation. Brentford and Brighton are next with 78 per cent, then Arsenal with 80 per cent.

Again, the riposte from Levy and ENIC would be that spending is out of control across the Premier League. Tottenham, they would argue, are one of the only clubs whose business model is sustainable.

They have a point – that much is impossible to deny.

But the reality of modern football, of which Cristian Romero is keenly aware, is that it’s nigh on impossible to compete for silverware without wild spending.

The sovereign wealth funds, private equity titans, and multi-sport empires that dominate the game’s financial ecosystem have made sure of that.

In a Premier League table ordered by the private wealth of club owners, Tottenham are bottom-half.

Premier League owners by net worth

Romero, who is being courted by Real Madrid, suggested after Spurs’ 4-3 defeat to Chelsea last Sunday, in which he went off injured when his side were two goals up, that more investment is needed.

He also alluded to a culture in N17 that, regardless of changes to the player or staff setup, makes success tough to obtain.

What exactly did Cristiano Romero say about ENIC and Daniel Levy?

As quoted by BBC Sport, the World Cup winner told Spanish media: “Manchester City competes every year, you see how Liverpool strengthens its squad, Chelsea strengthens their squad, doesn’t do well, strengthens again, and now they’re seeing results. Those are the things to imitate.

“You have to realise that something is going wrong, hopefully, they [the board] realise it.”

“The last few years, it’s always the same – first the players, then the coaching staff changes, and it’s always the same people responsible.

“Hopefully they realise who the true responsible ones are and we move forward because it’s a beautiful club that, with the structure it has, could easily be competing for the title every year.”

How much does Daniel Levy earn at Tottenham?

Like every other Premier League owner or co-owner, Levy does not take a dividend through his ownership of Tottenham

However, unlike most major shareholders of those clubs, Levy is also Tottenham’s chairman. And he is handsomely rewarded in that position.

Spurs’ accounts since 2001, when Joe Lewis and ENIC took control of the club from Alan Sugar and installed Levy as head of the board, show that Levy has earned £51m in that period.

That figure includes salary and bonuses.

£51m is comfortably the highest of any other Premier League director in that period.

The next closest challenger was Man United, where the best-paid directors on an annual basis since 2001 – probably a combination of David Gill and Ed Woodward – earned £41m over the same timeframe.

Amanda Staveley’s investment plans: Will part-takeover unlock extra funds for Ange Postecoglou?

Many Spurs are praying that salvation is around the corner, with Amanda Staveley looking to invest in Tottenham having raised £500m through her PCP Capital Partners.

Tottenham are actively courting a fresh capital injection which, in Levy’s own words, will be used to “invest in the teams and undertake future capital projects.”

However, it is unlikely that a minority investment will yield a major, sustained increase in the club’s expenditure in the transfer market.

Staveley has already briefed that she hopes her next investment – be that at Spurs or AS Monaco, where she has also been linked – will open up a pathway to full ownership.

But until an outright takeover of the club, the budget made available to Ange Postecoglou and sporting director Johan Lange is unlikely to match their peers in the ‘Big Six’.

For any Premier League club, the sight of one of your most promising youngsters joining a bitter rival – Arsenal or Tottenham Hotspur, in this case – always makes for pretty unhappy viewing.

And with the teenager’s contract running down, there appeared to be a very real chance that Chelsea would find themselves contending with a situation they would have much rather avoided.

Sources informed TBR Football back in October that Chelsea were growing frustrated with Josh Acheampong’s camp in their attempts to tie him down to a new deal.

That frustration, however, went both ways. Acheampong’s representatives would argue that, with the 18-year-old right-back still overlooked Enzo Maresca at the time despite Reece James’ ongoing injury issues, why would he commit himself to a club with whom his role appeared highly uncertain?

Chelsea’s response, meanwhile, was to inform Acheampong that he would not be training or playing with the club until he signed a new deal.

With his current contract expiring in the summer of 2026, the ultimatum was simple; Either put pen to paper now, or look for a new club in the New Year.

Arsenal and Tottenham blow as Chelsea reach Josh Acheampong breakthrough

Arsenal, Tottenham, Liverpool, Newcastle, Aston Villa and Brighton and Hove Albion were all watching closely. So too were Borussia Dortmund, AC Milan and Marseille.

Reports, via The Independent, even suggested that Real Madrid or Paris Saint-Germain could pursue a £12 million deal for a teenager who’s one and only Premier League appearance came in May’s 2-0 win over the aforementioned Spurs.

But Chelsea’s hardline stance – one they have taken with a number of homegrown talents in the Clearlake era – now appears to have paid of.

Blues boss Enzo Maresca confirms that Acheampong is likely to make his first senior start when Chelsea face Kazakh outfit Astana in Thursday’s Europa League clash.

Considering that Chelsea were unwilling to involve Acheampong in their senior set-up until he was willing to sign that contract, one can assume this means a breakthrough has finally been reached.

“He’s in the squad and is probably going to play from the start [against Astana],” Maresca said during his pre-match press conference. “With Josh, it’s quite clear. We all love Josh, the club loves Josh, and I love Josh.

“We are trying to find an agreement with the player. [A new contract] is close. We are almost there.”

Enzo Maresca thinks Acheampong can be ‘a top defender’

London-born and a representative of the English national team at Under 20 level, Acheampong is perhaps the most exciting of this current crop of Chelsea youngsters. His potential is evident, meanwhile, by the fact that Arsenal, Real Madrid, Paris Saint-Germain and more appeared willing to offer him the kind of assurances he was looking for at Cobham.

Assurances that, from both parties, now appear to have arrived.

“I really like Josh,” Maresca said a few months back, handing the young defender a half-hour run out during that 5-0 EFL Cup hammering of Barrow and appearing to see Acheampong as something of a project going forward.

“For me, he can potentially be a top defender in the future.

“With young players, I like to modify them a little bit. Today, they can change really quickly. They can think they are so good, or so bad, but you need to moderate [them].”

Two key Tottenham Hotspur players are at risk of being suspended in the Premier League due to an accumulation of yellow cards.

Ange Postecoglou’s injury and suspension crisis threatens to get worse as he could lose two very important players to bans. Spurs are currently without Cristian Romero, Guglielmo Vicario, Richarlison, Wilson Odobert, Mikey Moore, Rodrigo Bentancur and Yves Bissouma.

The 59-year-old has just seen Bissouma suspended for picking up a yellow card ban and two more of his stars could now face the same fate.

Micky van Ven and Dejan Kulusevski at risk of suspension

Micky van Ven and Dejan Kulusevski are at risk of yellow card suspensions as the Dutch defender has four and the attacker is on three. Five yellow cards before Gameweek 19 would result in a one-match suspension.

Van de Ven has struggled with a hamstring injury this season and appeared to be hurt in his return to action against Chelsea. Luckily though the 23-year-old is expected to be fine and available to face Southampton in their next Premier League fixture.

Losing Kulusevski would be a huge blow for Tottenham as he has been their most creative player this term. James Maddison has struggled to recapture his form from last season and has been unable to fill the Swede’s boots when given the chance.

Elsewhere, Rodrigo Bentancur, who is currently serving a seven-match ban, is also on four yellow cards and Pape Matar Sarr has three.

What is the latest on Micky van de Ven’s injury?

Van de Ven is facing good news in terms of his latest hamstring setback. The defender is likely to miss just a week of action having struggled with just muscle tightness against the Blues.

He managed longer than expected against Chelsea as he came off in the 79th minute with Postecoglou revealing the plan was for him to play 60 to 70 minutes. Van de Ven’s minutes will need to be closely monitored across the coming weeks to avoid a recurrence of his hamstring troubles.

Rangers fans are preparing for the return of one of their biggest rivals on Thursday as Ange Postecoglou takes his Tottenham Hotspur team to Ibrox.

The former Celtic boss is back in Scotland for Spurs’ Europa League clash with Rangers amid speculation over the security of his job. The 59-year-old looks to be safe for now but another bad result at Ibrox could ramp up the pressure on his position at Tottenham Hotspur Stadium.

Postecoglou and Rangers are very familiar with one another having played out many intense Old Firm Derbies during the Australian’s time at Celtic. Now, the Gers are ready to welcome him back and are seeking revenge for his treble-winning season at Celtic Park.

Rangers send Ange Postecoglou warning

Rangers fans are ready to welcome Ange Postecoglou back to Ibrox in the Europa League and will want to increase the pressure on him. Postecoglou is expecting Rangers to create a tough atmosphere and he will need to ensure his team are prepared.

The 59-year-old heads to Rangers with a strong record at their stadium having played there 11 times, winning six and losing on three occasions. Not only is this a crucial match for his future but it is also an important clash for the Europa League standings.

Rangers currently occupy the final spot in the top eight and Tottenham are just behind them in ninth place. Thursday’s result between the two teams could go a long way to determining which side qualifies for the knockout stages.

Ahead of the clash, the Gers’ supporters have taken to X to share their warnings for Tottenham and Postecoglou. One Rangers fan said: “The ironic timing of it all is that with a good result, we could be the ones that get Ange Postecoglu (ex-Celtic) sacked.”

“Spurs fans want Ange Postecoglou sacked? Don’t worry Philippe Clement is ready to him packing. You can thank Rangers shortly. Justice is coming,” stated another.

“Ange being ex-Celtic too will be a big factor in the atmosphere at Ibrox on Thursday,” added another Rangers supporter.

Ange Postecoglou faces big selection worry vs Rangers

Tottenham’s injury crisis has continued to get worse with both Cristian Romero and Micky van de Ven suffering new issues. Romero looks set to miss six weeks with a quad injury whilst Van de Ven is likely to be fit for their next Premier League fixture against Southampton.

However, that leaves Postecoglou with Radu Dragusin as his only centre-back option and he is expected to be partnered by Archie Gray. Pape Matar Sarr may need to fill in at full-back to allow Destiny Udogie a rest. Heung-min Son, Dominic Solanke and Dejan Kulusevski could all also be rested.

Tottenham’s predicted lineup vs Rangers: Forster; Porro, Dragusin, Gray, Sarr; Bentancur, Bergvall, Maddison; Johnson, Werner, Lankshear.

Tottenham have a number of players they may want to sell in upcoming transfer windows.

Indeed, after a slow start to this season, Ange Postecoglou may want to change up his squad a little bit in the coming months.

Real Madrid are keen on Pedro Porro, so that’s a situation to keep an eye on, while Yves Bissouma may have lost Ange Postecoglou’s trust after his poor performance against Chelsea on Sunday.

Richarlison has long been linked with a move away from Tottenham, and according to Ben Jacobs, speaking on NUFC Matters, the Brazilian has now changed his stance on his Tottenham future and has decided that he is open to leaving the club.

Richarlison is open to leaving Tottenham

Jacobs shared what he knows about the £60m striker.

The journalist says that Richarlison was adamant that he wanted to stay at Spurs at one point, but now, he’s open to leaving the club next year.

“The situation with Richarlison, the player was absolutely adamant last summer that he wanted to fight for his place at Spurs and we were all pleased to see him happy, most of us wanted it to work at Spurs, and Richarlison to be that £60m player and thrive.

“But now, I’m told the player has changed his mind in the last few months and he’s willing to leave Spurs in 2025.

Richarlison’s stats for Tottenham

Richarlison is open to leaving Tottenham next year, and Spurs probably aren’t too fussed about the idea of the striker moving on.

The sad reality is that Richarlison hasn’t been up to scratch for Spurs since the moment he signed, and his stats reflect that.

Those aren’t the sorts of numbers a £60m striker should be putting up, and it may be best for all parties for Richarlison to move on and try to rediscover his best form elsewhere.

Richarlison is currently out injured, so a move in the January transfer window probably isn’t on the cards, but, next summer, the attacker could well be on the move.

Tottenham Hotspur are in desperate need of a win having failed to pick up three points since their victory against Manchester City.

Next up for Tottenham is a Europa League game where a win could be huge having only taken one point from their last two games.

And it will be a familiar trip for Ange Postecoglou as his side will be playing against Rangers at Ibrox.

It has not been easy for Spurs of late with Jamie O’Hara tipping Postecoglou to be sacked as the Lilywhites find themselves down in 11th in the league.

Perhaps a European away game against Rangers is not exactly what this Tottenham side need right now as Postecoglou has already admitted he’s expecting one big challenge.

Ange Postecoglou expects big Ibrox atmosphere for Rangers vs Tottenham

Tottenham have not looked right for a lot of the 2024/25 campaign and that was seen over the weekend after their capitulation against Chelsea.

Postecoglou confronted angry Spurs fans last week, but he will need them on his side on Thursday in what is set to be a fiery atmosphere.

Speaking ahead of the game, Postecoglou admitted the Ibrox atmosphere could prove problematic for his side.

“I’m looking forward to it.I had a great time up there in the two years I was there [at Celtic]. Fair to say, Ibrox can be fairly intense and I’m sure we’ll feel that,” he told Sky Sports.

“But it’s a great stadium to play football in. The atmosphere, European nights. Even when I was there, they did awfully well in Europe – the first year I was there they got to the Europa League final.

“So you know how European nights, irrespective of their league form, they really rise for, so it’s a good challenge for us.

Eddie Howe has been suggested as a Postecoglou successor for Tottenham as their struggles continue in north London.

And anything other than a win on Thursday night would surely only heighten the frustrations surrounding the Australian manager.

Ange Postecoglou’s Ibrox record as Celtic manager

Unfortunately for Tottenham fans, Postecoglou is not making a return to Ibrox having dominated there as the Celtic manager.

The 59-year-old certainly dominated the Scottish top flight during his time with the Hoops, but he did struggle away to Rangers.

Alan Shearer is worried for Postecoglou at Spurs with the former striker concerned about the attitude of some of the players.

One thing which is certain is the Tottenham players will need to approach this game correctly if they are going to defeat both Rangers and their fans.

Tottenham have a few injury issues piling up at the moment.

The north London club have a number of key players sidelined at the minute.

Guglielmo Vicario remains injured after picking up an ankle problem against Manchester City, Cristian Romero re-injured himself against Chelsea at the weekend, while Richarlison is out until the new year with injury.

All these injuries usually lead to young talents getting a chance in the Spurs team, and, at one point, Mikey Moore was getting opportunities.

Moore has been impressive when he has played this season, but, unfortunately, he’s been sidelined with a virus in recent weeks, and it sounds like this problem will keep him out for a little while longer.

Indeed, according to Dan Kilpatrick, speaking on The Tottenham Way Podcast, Moore is going to be out until the new year with this issue.

Mikey Moore out until 2025

Kilpatrick shared what he knows about Moore.

The journalist says that Moore’s current illness is seriously energy-sapping and that he will be out until the new year.

Moore has been called ‘outstanding’ in the past, so this is a frustrating blow at a crucial time for his development.

“You consider at the moment that Vicario is out with a contact injury. Romero was out with a contact injury. Bentancur is suspended, that’s an anomaly if you like, Mikey Moore is recovering from an energy-sapping virus, so he will be out until the new year,” Kilpatrick said.

Which other Tottenham youngsters could get a chance?

Moore may be out of action until the new year, but amid Spurs’ injury crisis and congested fixture list, there may be more chances for young players in the coming weeks.

Indeed, Tottenham’s fixture list is packed over the next few weeks.

With some important players out injured, the door could be open for a few young players to now get chances.

Lucas Bergvall and Archie Gray have been waiting patiently to get a run in the team this season, but there could also be a few more call-ups from the U21s.

Will Lankshear is a highly-rated prospect, and he could get a chance up front in the coming weeks as the fixture list piles up.

Meanwhile, with Romero a doubt, Van de Ven not fully fit and Ben Davies injured, Alfie Dorrington could perhaps get a chance in the team.

Moore may be out until the new year, but there could be some fresh opportunities for young players at Spurs in the near future.

Tottenham Hotspur blew a two-goal lead to lose 4-2 against Chelsea in the Premier League.

Spurs have had a terrible few weeks. The North Londoners enjoyed the highs of battering Manchester City, but things have not been great at all since.

The win over Pep Guardiola’s side was their only victory in their last seven games in all competitions. That has pushed them down to 11th in the Premier League table.

Tottenham’s latest defeat was against Chelsea, and Craig Burley was far from impressed with what Destiny Udogie kept doing all game.

Craig Burley blasts Destiny Udogie after Tottenham lose to Chelsea

Udogie is into his second full season as a regular at Tottenham.

The Italian had a very impressive debut campaign under Ange Postecoglou. He quickly became a starter and his performances, especially early in the campaign, were fantastic.

Udogie then suffered an injury that ruled him out of the final month of the season. He returned in the summer and has once again been a regular.

However, the Udinese old boy has had his problems this season. He has come under a fair bit of criticism, and something he kept doing has irked Burley, who has had a go at him.

The pundit has claimed that Udogie’s ‘positional sense’ is terrible because he was almost always in between the left-back and left-wing positions against Chelsea.

Burley said on ESPN: “I was watching Destiny Udogie during the second half and half the time, he was in the position between left-back and left midfield. It was kind of in between. And I was thinking to myself: “Where is he? Where is his game awareness?”

“It was so easy for Chelsea to get on that right-hand side. He’s not the only one, I think he is a very, very good player, but his positional sense as a full-back at times is just terrible.

“I’ve rarely seen a top-flight side as open as that in a big derby.”

Ange Postecoglou has made a mistake with Udogie

Udogie suffered a significant hamstring injury in April this year. That ruled him out of the rest of the campaign and also Euro 2024.

The Italian worked really hard over the summer to return to full fitness, and he managed to be ready before the start of the Premier League season.

That was great news for Tottenham, but we think Postecoglou has made the big mistake of overusing Udogie – he has barely had a break.

The 23-year-old has started every single game in the Premier League and has played the full 90 minutes in 11 of those 15 fixtures. The only times he has been rested were against Ferencvaros, Galatasaray and AS Roma in the Europa League.

That, in our opinion, has had an impact on his performances this season. Postecoglou is the only one to blame for that.

Cristian Romero spoke for many a bedrock Tottenham fan when he criticised Daniel Levy and ENIC following the 4-3 defeat to Chelsea on Sunday.

The World Cup winner suffered a muscle injury that is expected to rule him out for weeks in the loss, which was the fifth match out of their last six that Ange Postecoglou’s side have failed to win.

But Romero made far more headlines for what he said to Spanish media, however.

The 26-year-old defender – who, incidentally, is wanted by Real Madrid – blamed who he called “always the same people” for Spurs’ lack of progress on the pitch in recent years, referring to the board.

Daniel Levy is the Premier League’s longest-serving chairman and has trousered more than £50m in salary payments since he began the role.

As a co-owner, he will likely also cash in to the tune of four or five times that amount if and when Tottenham sell a minority stake to a new investor.

Amanda Staveley and the £500m-strong consortium she has assembled are looking for a new football project. They have zeroed in on Spurs, although AS Monaco remains a possibility too.

Levy is understood to value the club at £3.75bn and has commissioned the Rothschild bank to look for potential new equity partners to, in his own words, invest more in the team and infrastructure.

At that price, a full takeover would represent a world record for a football club.

In the world of football finance, it is generally accepted that £3.75bn is a fair price. But why?

The matchday income generated by the Tottenham Hotspur Stadium is a factor, yes. But at £118m at the last count, it is ultimately only one element of the club’s business operation.

The answer is more about their diversification of revenue. In fact, only Liverpool can claim to be les reliant among Premier League sides on their ‘big three’ sponsorship deals (shirt, kit and sleeve).

And the latest insights from one of the world’s leading financial institutions, Goldman Sachs, shows how Tottenham’s revenue will continue to soar even if results on the pitch remain insipid.

Since moving into the Tottenham Hotspur Stadium in 2019, Spurs’ commercial income has tripled. And that is even without a lucrative naming rights deal pined after by Levy.

Commercial income – that is revenue from sponsorship, events and merchandise – is separate from matchday income, I.e., the money Spurs generate through the turnstiles at home games.

One of the keys to this success has been the non-football events that the 62,850-seater stadium, which is widely viewed as one of the best in the world, routinely hosts.

As well as the NFL’s London Games and heavyweight prize fights, the Tottenham Hotspur Stadium is one London’s go-to venues for music acts.

The likes of Beyonce, the Red Hot Chilli Peppers, Wizkid, P!NK and Guns N’ Roses have played the stadium, to name just a few.

However, until recently, the number of non-football events Spurs have been permitted to host has been capped at 16 by Haringey Council.

But in August, the North London club obtained a new license to host 30 non-football events.

The latest details, outlined in an analysis of from Goldman Sachs, show that 16 non-football events were worth £55m to the club in the last financial year.

More or less doubling the number they can host means that non-football events could be worth a staggering £110m from now on.

Will additional commercial income allow Tottenham to spend more in the transfer market?

Unlike several teams in English football, Tottenham are clear of any financial fair play (now called Profit and Sustainability Rules) issues.

However, having the freedom to spend does not necessarily equate to having the inclination to do so as far as ENIC and Levy are concerned.

The very fact that they are seeking minority investment and the capital injection that comes with it is evidence that they either lack the liquidity to fund major investment or do not want to do so.

Tottenham’s spending on amortisation (which is how transfers are accounted for over a period of time) and wages has risen in the years following the stadium move, granted. But not as fast as revenue has.

Ahead of January, Postecoglou would surely love for Spurs to strengthen in the transfer market.

But there is unlikely to be a major departure from Tottenham’s self-funding model, especially without Champions League income this term.

For Tottenham fans disgruntled with what the direction that Daniel Levy and ENIC are taking their club, an oil-rich Gulf state might sound like the perfect succession plan.

Daniel Levy is the longest-serving chairman in the Premier League having been in his post since 2001. He is also almost always the most well remunerated on an annual basis.

The 62-year-old trousered £6.6m last term, which was comfortably the most lucrative package in the division. Since 2001, Levy has earned £51m from Spurs.

Those statistics, taken from a period when the club won one solitary League Cup, are ammunition for the section of bedrock fans who believe ENIC prioritise commercial success over silverware.

Cristiano Romero, who was injured in the defeat against Chelsea, appears to share that view.

“Manchester City competes every year, you see how Liverpool strengthens its squad, Chelsea strengthens their squad, doesn’t do well, strengthens again, and now they’re seeing results. Those are the things to imitate,” he told Spanish media on Sunday, as quoted by BBC Sport.

“You have to realise that something is going wrong, hopefully, they [the board] realise it.”

“The last few years, it’s always the same – first the players, then the coaching staff changes, and it’s always the same people responsible.

“Hopefully they realise who the true responsible ones are and we move forward because it’s a beautiful club that, with the structure it has, could easily be competing for the title every year.”

Romero was likely referring to Levy himself.

ENIC control the majority of the club’s equity and voting rights but have taken more of a passive role since Joe Lewis, the company’s London-born former CEO, was convicted for insider trading in 2023.

Romero may not be in N17 for too much longer in any case given Real Madrid’s interest in him, but a change of the club’s ownership structure could soon be on the cards.

Tottenham are looking for minority investment, with former Newcastle United supremo Amanda Staveley the current frontrunner having raised £500m for a new football project via PCP Capital Partners.

In the past, several other groups have been linked with Tottenham, either in the form of a full or partial takeover. Perhaps the most evocative name that has come up is QSI, or Qatar Sports Investments.

QSI are a sovereign wealth fund and owners of Paris Saint-Germain. Their president, Nasser Al-Khelaifi, is also head of the European Club Association (ECA) and a known ally of Daniel Levy.

Rumours have been swirling in recent months that Qatar is losing interest in PSG. This week, Al-Khelaifi addressed those, with potential implications for Tottenham.

QSI know ‘Premier League is where its at’ but UEFA rules an issue for Tottenham investment, says finance expert

Al-Khelaifi was widely quoted as saying suggestions that QSI are looking for an exit route at Parc de Princes are wide of the mark.

But, as Liverpool University football finance lecturer and industry insider Kieran Maguire point out, the ambitions of QSI are largely inscrutable and they will be aware the Premier League is the go-to market.

Speaking to TBR Football, Maguire pointed out that UEFA’s conflict of interest rules would make the transition from France to England tricky but not impossible.

“On the face of it, there is not much in it for QSI to have both PSG and Spurs because of the likelihood of both qualifying for the Champions League,” he said.

“That would cause an issue unless UEFA completely caved in. They have had to pinch their noses with regards to the blind trusts used by Sir Jim Ratcliffe to run Nice, his French club.

“Being head of the ECA means Al-Khelaifi has some power. Money helps too, of course.

“QSI’s issue is that there is limited scope for growth in Ligue 1. Domestically, do they have the resources to make PSG a club who can generate enough interest in Europe?

“Success in the Champions League is what they are looking for. They don’t care about Ligue 1.

“All their player brands – Mbappe, Messi, Neymar – have gone. I am sure they are thinking the Premier League is where it is at.

“But it would have to be a very delicate set of negotiations. You would have to get the sale and the purchase in the Premier League going through at broadly the same time from a compliance point of view.

Who else has been linked with Tottenham takeover?

Last week, controversial Dallas Cowboys owner Jerry Jones was linked with an outright takeover of Spurs.

That would have made some sense given that the billionaire is currently in London and Tottenham have strong connections to the NFL.

However, several sources have since denied that the 82-year-old has entertained the prospect of investing in the Premier League.

Previously, the rapper-turned-investor Jay-Z has been tentatively linked. Although he is a billionaire in his own right, that would almost certainly be as an ambassador for a wider consortium.

TBR has been told that MSP Sports Capital, the group that recently tried and failed to buy Everton, have also conducted due diligence with a view to a full takeover bid.

That, however, was some time ago. The current status of their interest is not known.

Liberty Media, the world’s most valuable sports empire, are another name that has reportedly expressed an interest.

Like Jones’ would-be investment, that would make sense. Tottenham have an excellent relationship with Formula One, Liberty’s prize asset, thanks to the 15-year commercial deal the pair signed last year.

But Liberty have only ever been mentioned in passing and, again, not for some time.

Staveley, it seems, remains the only investor who is actively and publicly engaged with Spurs.