Tottenham Hotspur may be due to miss out on a £5m payout from former trainingwear sponsor Getir, after the Turkish company edges closer to folding.
The deal to have the shopping company on Tottenham‘s training kit and warm-up gear began in 2021 and expired this month.
American betting company, BetMGM, will take over from Getir for next season. The new deal is thought to be worth £10m per year, compared to Getir’s £8m a year arrangement (Lukasz Baczek).
All of this goes towards Tottenham’s incredible revenue stream, which has risen to £550m in the last 12 months, propelling them up to eighth in the Deloitte football money league. They are now above Premier League rivals Chelsea and Arsenal when it comes to annual income.
A huge £228m of that comes from commercial sources, including sponsorship and merchandising.
Getir facing collapse, Spurs left in a sticky situation
However, according to Sky News, however, Spurs will potentially be losing out on around £5m of their income, due to Getir’s impending collapse.
The shopping firm has removed itself from the UK market and returned to its native Turkey recently. But, the company is on the verge of running out of money entirely, and could even be facing disaster by the end of this month, despite taking a £10m investment as part of a rescue package.
It is now thought Spurs will lose out on the £5m they are owed by Getir. The report suggests Tottenham may take legal action, or may have some kind of insurance to take the hit, but a full recovery of the fee is still likely to take a very long time.
Spurs Web Opinion
As crazy as it sounds, in the grand scheme of things £5m is not actually a big issue for Spurs, but they still need to fight to get that money as it is what they are owed. It’s not Tottenham’s fault the company is in a mess, and we should get that money eventually.