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Tottenham Hotspur’s struggles on and off the pitch continue to mount, as a key multi-million-pound sponsor is reportedly set to cut ties.
Tottenham Hotspur’s downward trajectory in the Premier League has continued once again this season after a disappointing 17th-place finish in the league last term.
Thomas Frank was brought in to keep Tottenham competitive in the English top flight, but after seven months in the dugout, results and form stayed the same, with two points the difference between 16th-placed Spurs and 17th-placed Nottingham Forest.
After managing just two wins in his last 17 league outings, the Tottenham board concluded enough was enough and handed Frank the sack, before then appointing former Juventus manager Igor Tudor as interim manager.
The 47-year-old is yet to take charge of his first game as Spurs manager, but Tottenham will be hoping he can steady the ship and prevent them from going down.
According to The Telegraph, Tottenham Hotspur have now lost a key sponsor worth millions to the club as they continue to battle relegation and struggle in the transfer market.
It is reported that one of Spurs‘ long-standing key sponsors has already alerted the club that their partnership will cease in the summer, whether or not Tottenham remain in the Premier League.
Meanwhile, the report claims that others are deliberating whether or not to follow. The name of the sponsor to have notified Tottenham they will be ceasing their partnership is not named by the outlet, who state contract confidentiality as the reason.
Sponsorship uncertainty adds to Spurs financial pressure
It is understood that several factors have played a role in the sponsor’s decision to walk away from their partnership with Tottenham.
The club’s decision to sacrifice the Premier League for the Europa League last season is one that did not go down well with some sponsors, who see the Premier League and its global reach as the core value of their partnerships.
Tottenham’s downward trajectory in the Premier League, a lack of pulling power, empty seats, a toxic atmosphere and a lack of communication are also contributing factors.
‘Many sponsors’ have been dismayed at the lack of communication since Levy’s exit, while some are yet to even meet Vinai Venkatesham or the Lewis family.
This all comes after it was revealed earlier today that Tottenham Hotspur have frozen their season-ticket prices for next season.
It remains to be seen whether Spurs lose additional deals, as ‘at least one’ of the north London club’s remaining sponsors is due to conclude at the end of the season, with no renewal agreement currently in place.
Meanwhile, one other sponsor is thought to be considering their options. It is also reported that a number of the club’s partnership deals include lucrative bonuses based on European qualification that the club look almost certain to miss out on, given their league struggles this season.
There are claims that some of Spurs’ sponsors have relegation renegotiation and termination clauses in their contracts, which would leave a massive financial hole for the club to fill.
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