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Tottenham: Finance expert denounces Spurs takeover claim

Tottenham: Finance expert denounces Spurs takeover claim -Premier League News

Football finance expert Dr Dan Plumley has been reacting to Tottenham Hotspur’s debt status in Forbes’ most valuable clubs list.

The Lowdown: Most valuable clubs list

According to Forbes’ annual list of football’s most valuable clubs, Spurs rank tenth in the world, with a current value of £1.9bn.

However, the Lilywhites’ debt equates to 45% of the overall valuation, roughly coming out as £900m.

Out of the list’s top 20, no other club has a higher debt-to-value ratio.

The Latest: Plumley’s claim

Plumley believes these figures are misleading because they have not considered interest-free loans from shareholders and how the majority of debt has derived from the build of the Tottenham Hotspur Stadium.

Speaking with Football Insider, the finance expert claimed:

“Personally, I wouldn’t worry too much about that number for Spurs.

“The debt figure that is included in this report is only on interest-bearing borrowings, including stadium debt.

“If you look at some of the other clubs, they have got debt levels of zero but that isn’t true because they are indebted to their owners.

“Spurs borrowed to fund the stadium through more traditional borrowing channels.

“So, you see that it’s quite a high figure compared to other clubs that report. However, in the long run, that is going to expand growth and open up revenue streams.

“As a long-term play, they have got to work through the debt, but provided they can service that, it’s not a problem.

“If you’re an investor, you might not see them as that attractive now, but when that debt is paid off and they are earning through the stadium, it will start to look far more attractive.”

The Verdict: Spurs for sale?

According to a report from The Athletic back in February, whilst Tottenham isn’t explicably up for sale, chairman Daniel Levy has built the club with the intention to one day sell it, making it ‘a question of when’ – rather than a question of if.

However, with the considerable £150m investment from ENIC this summer, any potential takeover seems a long way off.

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Spurs fans, do you remember who scored your first goal of the season against Man City?

With Antonio Conte currently holding the reigns, the hierarchy at Spurs are certainly looking at a successful period in charge thus far, but this can always change at a moment’s notice if things go awry on the pitch or in the boardroom.

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