The Daily Mail has revealed that Tottenham Hotspur, as well as the five other Premier League clubs who signed up for the European Super League have already lost a significant amount of money due to their decision to withdraw from the competition.
Many fans of all the ‘big six’ teams put rivalry aside and came together to launch massive protests against the breakaway competition.
Following the intense backlash, all six clubs confirmed that they had begun their withdrawal process from the tournament.
The Mail claim that the twelve clubs who signed up for the ESL bought respective equity stakes of £8million each in the Super League.
The money was used to create the competition’s infrastructure, fund crucial roles such as negotiating with broadcasters and pay legal fees.
It is said that it is unclear so far how much of that money has been spent or if any of it will be returned to the six clubs that withdrew.
Additionally, Tottenham and the other five Premier League clubs could reportedly also be forced to pay compensation to the six other European founding clubs for breaking a clause in the ESL’s 23-year contract which stated they could not leave during the first three years.
Spurs Web Opinion
If it is the case that Spurs will not be getting back the £8m and could actually end up paying even more in compensation, that could prove quite disastrous for the club. Our finances are not in a very good shape at the moment due to the timing of the pandemic and now that Mourinho has been put on gardening leave and the club will have to likely pay compensation to bring in a new manager, our transfer budget in the summer could be slashed considerably.
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