Finance Guru: Tottenham could save £145m as five big-name stars to quit after relegation

Tottenham Hotspur could save £145million on wages if they are relegated from the Premier League this season. 

That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider Spurs’ top-five earners are likely to leave if they drop down to the Championship.

It has been revealed the majority of Tottenham’s squad have relegation clauses that would see their wages drop by around 50 per cent in the second tier.

Roberto De Zerbi’s side currently sit third-bottom in the top-flight table, one point behind 17th-place West Ham, who have a game in hand.

Tottenham’s revenue would drop significantly if they lose their Premier League status, undoing years of work put in to improving the club’s financial situation. 

Why Tottenham will instantly lose £145m after relegation

Tottenham posted their accounts for 2024-25 last month, showing their revenue improved from £528m in 2023-24 to £565m last season. 

Meanwhile, the north London giants’ wage bill increased from £222m to £256m across the same period. 

Speaking exclusively to Football Insider, Borson discussed how Tottenham’s wage reduction clauses will mitigate the drop in revenue they could face in the Championship.

“It’s not going to deal with the whole lot because it’s a very big organisation,” said Borson.

“Although the players might be on 50 per cent wage cuts, I very much doubt the general staff will be on any wage cuts. You’re talking about saving let’s say £90-100m on the first-team squad for the season. 

“But you’re going to lose straight away versus this season £145m if you’re relegated because this season they’ve got Champions League and they’ve also got Premier League money.

“That’s going to reduce substantially, so those two things aren’t going to match. But they will have more matchdays. Can they sell the ground out? If there’s momentum and they’re doing okay, maybe they can.” 

Which players could leave Tottenham after relegation?

Borson insisted the likes of Cristian Romero and Micky van de Ven would leave if Tottenham are relegated this season.

“There are players that are going to leave,” said Borson. 

“Let’s say the top-five earners, who are probably Romero, Van de Ven, Maddison, Kulusevski maybe, these sorts of players, they’re going to go. 

“I would think at least three of the top-five earners are going to go. By the time you do all of the work on what it looks like, you’re going to cut the wage bill a lot.

“The wage bill is going to go from an organisational wage bill this season of let’s say £250m down to £100-105m maybe, which actually as it happens is £145m that we just talked about.

“You’re probably looking at almost an exact drop in the total wage bill from 50 per cent player cuts plus sales. That probably ends up matching broadly the loss of broadcast.” 

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