Newcastle Really Have Joined The Big Six, Everton Are In Trouble
Financial fair play calculations show that Tottenham have the greatest opportunity to spend big in the January transfer window – and put their season back on track under new manager Antonio Conte.
And Newcastle United’s Saudi-led takeover really will propel the Magpies into contention with the Big Six in the Premier League, at least when it comes to transfer spending.
An analysis of top flight clubs undertaken for Sportsmail by Kieran Maguire, a lecturer in football finance at the University of Liverpool, estimates what each club could spend and still stay within the FFP limit.
In fact, the north London club could spend up to £400m and stay within the FFP limit, twice the sum available to Arsenal and comfortably more than Chelsea, Liverpool, Manchester United and Manchester City.
‘Spurs net transfer spend since 2010 is between a quarter and a half of the other Big Six clubs and it is the most successful club in terms of keeping its wages low as a proportion of income the club generates,’ Maguire told Sportsmail.
‘Spurs have had a business model rather than a trophy winning model.’
FFP allows clubs to make a loss, which is made up by wealthy owners, of £105m over three years. However, turning a profit, offsetting expenditure against against capital or football development projects and boosting revenues helps to stretch that envelope.
Conte is widely expected to be given money to spend in the January window. Having seen his new side almost throw away a 3-0 lead against Vitesse in the Europa Conference League and then put in a lacklustre display in a 0-0 draw at Everton, he may be feeling that recruitment is even more important than he suspected.
And the former Italy manager has previously indicated how much importance he places on the opportunity to invest in a squad.
The Italian has left his last three clubs – Inter Milan, Chelsea and Juventus – over issues of money or control.
However, there is no culture of profligate spending at Spurs, far from it.
Maguire has calculated that between 2010 and 2020, Spurs made profits before tax of £401m, compared to huge losses at Manchester City and Chelsea and pre-tax profits of £128m at Manchester United.
In addition, Spurs net transfer spend since 2010 is between a quarter and a half of the other Big Six clubs.
Even so, the potential to spend and stay within FFP does not mean that Spurs either have the money available or the intention to invest it.
They have got the ability to spend in this transfer window provided they can get the funding for it. Whether that comes from ENIC, they go to the market of they have the cash, added Maguire.
‘Daniel Levy has run the club as a business superbly, but if you view it as more than a business then it’s not superb. The gap between Spurs and the bigger clubs has been maintained. If Spurs are happy to be sixth, then fine.’
It is suggested Conte is already looking at players he can move on, as well as those he can bring in. And of course, cheering up the Spurs talisman, Harry Kane, will be top of his list.
But the fact is there will be no honeymoon period for Conte at Spurs, he knows he has to hit the ground running.
With Champions League football at stake, the new Tottenham boss needs Premier League points, and he needs them immediately.
