Reports on Sunday began to emanate from talkSPORT that news on Wednesday will blow the socks off fans of Tottenham Hotspur. At first, many began to speculate as to what the news could be. Will it be the kit launch? Will it be Andre Villas-Boas announced as the new head coach? Will it be some new signings?
Fans began to discuss on Twitter what the news could be, with many drawn to the idea that it could be the possible announcement of investment or even a potential takeover. Reports began to circulate back in January when Spurs delisted from the stock market. Some felt a takeover from AEG or a Qatari back family were going to make their move to purchase the club.
As time wore on, coupled with the announcement that Spurs were going to push on with the Northumberland Development Project, rumours continued to gain momentum. The project to renovate the area around White Hart Lane is going to cost at least £350m, so any investment would be ideal for the long-term sustainability to the club.
What does it mean for the squad?
With Villas-Boas now confirmed as the new head coach, he is likely to be handed a hefty war chest to strengthen the squad this summer. Since reaching the Champions League in 2010, Spurs have only spent £16.5m on new players, bringing in more through the sales of Peter Crouch and Wilson Palacios, not to mention Roman Pavlyuchenko, Niko Kranjcar and Robbie Keane increasing the funds.
At present, the club have money to spend on new acquisitions, with Gylfi Sigurdsson and Jan Vertonghen expected to arrive for a combined fee of £17.5m. However, they are just two players that will be needed for the new season. Spurs need to strengthen in specific areas before they are ready for the new campaign, with two new strikers and another midfielder a must.
The likely sale of Luka Modric, expected to raise around £30m, will bolster the transfer and wage budget and it is likely a replacement will be secured with the money from the sale. With the new manager in place, signings will be easier, but it is pivotal that any money, should it be invested from an outside source, be fully utilised to strengthen the squad.
What does it mean for the club?
Chances are, should any interest from abroad be pursued, it will be an investment in Spurs rather than a big takeover. With that in mind, and the NDP expected to go ahead, the money will see the new stadium named by whoever puts the money forward. This will give the club a welcome relief from the substantial cost of the new home.
Reports have suggested that the sole reason for Spurs applying for the Olympic Stadium in the first place was to drum up interest in the project. With a vast majority of the fanbase against the decision to move to Stratford in the first place, it was a bid that would never have taken off. The sole purpose of bidding for the right to play in East London was down the costs.
As mentioned, the NDP will cost anything from £350m upwards. Investment to help ease the financial worries are absolutely pivotal to the future of the club. As much as the fans enjoy White Hart Lane, for Spurs to move forward, a move away from the ground is needed. The new stadium will help bolster the coffers through ticket sales and sponsorship deals.
However, before any of that can move forward, the right funding is essential. With the possible investment or takeover that has got fans reaching for their second pair of socks, this funding will come in, even if it means the stadium being named ‘AEG Arena’, for example. Yet, as mentioned, it will ensure the club can progress both off the field and on it.
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