Tottenham Hotspur are about to be handed a timely financial boost, according to emerging reports.
It’s claimed that the North London outfit have sealed a new lucrative sponsorship deal that’ll help boost the coffers after dealing with the difficult repercussions of the pandemic over the past year.
The ever-reliable Alasdair Gold revealed the news on football.london earlier this week.
“football.london understands that Tottenham are set to boost their finances with a new training kit partner sponsorship deal, which is believed to have already been tied up and will see the new partner’s name visible on the Nike apparel,” he wrote.
Lilywhites chairman Daniel Levy stated that the club were expected to lose around £200m in revenue due to the lack of crowds and events at the Tottenham Hotspur Stadium, which led to him taking out a £175m loan from the Bank of England.
That has since been paid off but it’s hard to imagine that they have regained much of the funds lost throughout the previous 12 months as fans aren’t expected back in the ground until the new season gets underway.
Therefore, any new finances will surely come as a huge bonus to Levy and the club.
It is the first time that Spurs have dipped their toes into this kind of sponsorship, even though it is prevalent right across the Premier League these days.
For instance, in 2018, Liverpool struck a four-year deal worth £20m-a-year with insurance provider AXA to sponsor their training kit. That relationship has since increased to include sponsorship of their new training base.
Similarly, Manchester United had American insurance giants AON on their training tops until May and that was thought to be a £120m deal across eight years.
Now Spurs are set to join the party, you can expect a little boost to the finances and that should leave Nuno Santo absolutely delighted as he looks to stamp his authority down in N17.
He and new sporting director Fabio Paratici could now get to work on potential arrivals in the transfer market, they’ll surely be working together at Hotspur Way knowing that they have a little more money to work with.
This is a great boost for for Levy, who’ll be buzzing to get some extra funds in the Spurs account after such a difficult 18 months.