Football finance expert Kieran Maguire has explained that Tottenham have taken a financial gamble by sacking Nuno Espirito Santo and replacing him with Antonio Conte, with the hope they will be able to get back into the Champions League.
Spurs confirmed the sacking of Nuno last week, with the Portuguese coach lasting just fourth months at the helm.
According to The Sun, Tottenham had to pay £14m in severance payment to the former Wolves boss as a result of relieving him of his duties so early into his contract.
Conte has penned a contract with the North London club until 2023, with the Italian reportedly set to earn £20m over the course of the deal.
Maguire explained that the £34m Tottenham have spent on their managerial change would be more than worth it if Conte manages to get the club into the top four due to the additional revenue the club can earn from the Champions League.
Maguire told Football Insider: “These figures (£34m) are very high but if that is the case, the cost will be spread over two years.
“But if Conte delivers by getting Spurs into the Champions League in one year, that’s worth a minimum of £40m.
“If you go far in the Champions League, we’re talking £100m in prize money alone.
“Spurs’ stadium is also now the biggest income generator in the Premier League on a match-by-match basis.
“If you’re in the Champions League then you can charge higher prices than they do when they are in Europe on a Thursday night.”
Spurs Web Opinion
I would be surprised if Spurs actually paid Nuno £14m in severance pay. The club might have quite possibly put him on gardening leave as they did with Pochettino when they sacked him in 2019.
Besides, the crucial point is that the cost will be spread over two years. With the Tottenham Hotspur Stadium now open for football matches and other events, the club is now in a much healthier financial position.
Have something to tell us about this article?