When news first broke in July last year that Amanda Staveley was exploring the possibility of investing in Tottenham Hotspur, it sparked immediate intrigue and excitement among fans. Since then, however, Spurs have endured a rollercoaster of a season—though not the kind filled with exhilarating highs and thrilling turns. Instead, the ride has felt more like a steep, stomach-churning descent, marked by inconsistency, financial uncertainty, and lingering questions about the club’s long-term direction.
Yet amidst the chaos, there has been a glimmer of hope. Last night’s spirited win over Norwegian side Bodo/Glimt in the Europa League offered a timely reprieve, setting the stage for a dramatic European climax in Bilbao. That match could become a defining moment—not just for the season, but for chairman Daniel Levy’s legacy in North London.
For Levy, who has helmed the club for over two decades, silverware has remained stubbornly elusive. Tottenham’s trophy cabinet has gathered dust for 17 long years, despite brushes with glory under managers like Mauricio Pochettino and Jose Mourinho. Now, with the chance to finally claim a European trophy, the question arises: will that be enough to outweigh a possible 17th-place finish in the Premier League?
For head coach Ange Postecoglou, that conundrum encapsulates the season. Can a European title paper over domestic shortcomings? Interestingly, many Spurs supporters continue to back Postecoglou, despite the team’s league struggles. Their faith in him symbolizes a notable shift in sentiment in recent years—a growing belief that the deeper issues at Tottenham lie not with the managers, but with the leadership above them.
Indeed, while coaches have come and gone, a constant in the club’s cycle of fleeting hope and bitter disappointment has been the ownership. Levy and ENIC Group have increasingly found themselves at the center of fan frustration this season. Once heralded for making the club self-sustaining and fiscally prudent, they can no longer claim that badge of honor. Tottenham are now spending more than they earn.
The club’s cash reserves have declined for a third consecutive season, and even though the wage-to-turnover ratio dropped to an all-time low of 42%, their financial model appears more precarious than ever. Much of their transfer activity has been bought on credit—Spurs now owe a staggering £337 million in transfer instalments.
Could Amanda Staveley Be the Game-Changer Spurs Need?
This is why Amanda Staveley’s potential involvement was so tantalizing. Known for her bold, ambitious approach to football investment, she brought fresh energy and financial muscle when she helped broker the Saudi-backed takeover of Newcastle United in 2021. Under her stewardship and that of the Saudi Public Investment Fund, Newcastle transitioned from perennial underachievers to Champions League contenders, with an aggressive investment strategy to match.
For Tottenham fans, the prospect of someone like Staveley entering the fold offered hope of a similar revival. Especially in the context of the Premier League’s enormous media rights income—the new broadcast deal beginning next season is worth nearly £1.7 billion annually, totalling £6.7 billion over four years. Despite a poor season on the pitch, Spurs are still expected to bank around £120 million in TV revenue this campaign. The league’s global brand remains a financial juggernaut, second only to the NFL and NBA in terms of broadcast value.
However, the growth in these media rights has plateaued in recent years. This has spurred Premier League executives to explore new ways of enhancing the product—ideas which Staveley herself was reportedly involved in. During her time at Newcastle, she was part of the Premier League’s Rights, Access and Facilities Framework group, which brainstormed innovations aimed at squeezing more value from the league’s rights packages.
Some of those suggestions are now moving toward implementation. According to The Guardian, proposals under consideration for the 2025 season include:
- Dressing room access: Broadcasters would be allowed to film inside dressing rooms at up to two home matches per season.
- In-game interviews: Selected players could be interviewed at half-time or immediately after being substituted.
- Enhanced pitch access: Film crews using Steadicams could record goal celebrations and post-match reactions directly on the pitch.
To bring these changes into effect, at least 14 clubs must vote in favor. The Premier League is actively lobbying Spurs and other members to support the initiative, banking on the belief that increased behind-the-scenes access could translate into a richer broadcast product and, by extension, greater revenue.
A Stalled Investment – Is Staveley Still in the Picture?
Despite the early excitement, momentum around Staveley’s potential investment in Tottenham has slowed considerably. The last meaningful update came in December, when she confirmed publicly that her firm, PCP Capital Partners, was in talks with a club about a possible investment. She did not name Tottenham, likely due to confidentiality agreements, but speculation strongly suggested Spurs were the club in question.
A major stumbling block, however, appears to be Daniel Levy’s lofty valuation of the club. With Tottenham reportedly valued at £3.75 billion, and Staveley said to have raised £500 million, her offer would represent only a minor equity stake—hardly enough to afford her meaningful influence over operations. Given her hands-on role at Newcastle and preference for active involvement in strategic decisions, such a limited role at Tottenham may be unappealing—especially with Levy known for retaining tight control over the club’s affairs.
If Staveley has indeed decided to walk away, it would mark a missed opportunity for Spurs to bring in a proven operator with a track record of revitalizing clubs through strategic investment and bold vision.
As Tottenham heads toward a potentially defining summer—on and off the pitch—the uncertainty surrounding its ownership and direction continues to cast a long shadow. A European trophy might offer a short-term boost, but without a clearer plan for the future, questions about the club’s ambition, governance, and financial health are unlikely to go away anytime soon.
