Finance expert, Kieran Maguire has told Football Insider that he remains optimistic about Tottenham’s current financial situation despite the COVID-19 pandemic.
Tottenham revealed losses of £63.9m in their last accounts and their brand-new 62,000 plus seater stadium has remained closed to the public for the best part of a year.
However, Maguire reports that Spurs currently pay £100m per year less than some of their big six rivals when it comes to wages.
Apart from Gareth Bale who is currently on loan, Tottenham’s top earners are said to be Harry Kane and Tanguy Ndombele, both on around £200,000 per week (Spotrac).
Maguire revealed that Tottenham’s current wage bill is £181m, lower than Arsenal (£225m), Chelsea (£283m) and Man United (£284m). Between 2019 and 2020, Spurs’ wage-to-turnover rate was said to rise from 45% to 59%.
The finance expert was also keen to point out that, once fans are allowed back in, Tottenham’s matchday sales will give them more flexibility when it comes to their financials.
He said (Football Insider): “They’ve got a lot of flexibility. They earn more from matchday sales than anyone else. They’ve even leapfrogged Man United.
“Assuming that on the back of the vaccination we return to having crowds, they will end up with the highest matchday revenue in the Premier League, which is a really amazing achievement.
“So 2020 has hit them hard. But even with that taken into account, their wages-to-turnover was still only 59 per cent.
“It was 45 per cent the previous year so it has gone up but it still substantially lower than other clubs.
“Spurs’ bill is £181m, Arsenal’s is £225m, Chelsea’s £283m, Man United’s £284m. So their wage bill is £100m less than two of the clubs that they need to leapfrog. So they do have the scope to spend more.”
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