Tottenham Hotspur are reportedly set to significantly reduce Jose Mourinho’s transfer budget this summer in an effort to deal with the financial downturn caused by the global coronavirus pandemic.
According to a report in the Daily Mail, Spurs are planning a range of cutbacks including scaling back on the transfer funds they initially planned on spending this summer.
Daniel Levy announced earlier this week that Spurs will be cutting 20% of the wages of 550 non-playing staff.
The Lilywhites have also effectively closed their recruitment operations as a result of the coronavirus, though the club are said to be confident that the move will not have a major impact on their transfer strategy (Football Insider).
The Daily Mail now reports that the financial crisis engulfing the business world has made Tottenham doubt the viability of securing a lucrative naming rights deal this summer.
The club are thus expected to reduce their transfer budget this summer which might dent Mourinho’s hopes of strengthening the squad to the extend he had previously planned.
Spurs Web Opinion
Anybody who doesn’t think the looming financial crisis is going to affect every single club’s transfer plans this summer is naive. The ripple effects of the financial crisis might have an effect on the footballing world for several years to come. I expect player prices to fall drastically and many smaller clubs to try and sell off some of their stars just to survive.
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