Antonio Conte arrived in North London at the start of November to change the fortunes of the club. It is quite a task to change things for a team that were functioning but also misfunctioning under Nuno Espirito Santo. Some players bought into the tactics, and some were severely confused. The Portuguese was not confident of his abilities and perhaps took the job at the wrong time. The current squad is set up to compete in the Top 4 and has a great blend of players that are hitting their peak and some that are on the brink of doing so. Proper man-management and a sound tactical system can help them secure a Champions League spot.
But they are not suited to the Italian manager. Like Jurgen Klopp and Pep Guardiola but unlike Thomas Tuchel, Conte prefers specific players in specific areas to do specific jobs. Sometimes, the teams he joins already possess those players as they did in his first season at Chelsea. But sometimes the heavy investment is needed to make things work, as they did at Inter Milan.
Daniel Levy supposedly promised the 52-year-old of an adequate transfer budget in the January transfer window. However, based on their recent financial results, it does not look like the club are in any state to fulfill that promise.
Tottenham Hotspur chairman recently published the financial results for their financial year ending on 30th June 2021. There was always going to be a downturn in income due to the pandemic and the subsequent absence of fans. It must have hit the North London club a lot harder than any other institution as they had recently constructed their stadium. But their losses are poorer than one could have imagined.
Financial Results:
To start off with their net debt. The loan they had to take for the stadium was already becoming hard to pay off, and as of last year, they had a net debt of £605million. In a year, it took a sharp rise to £706million, due to the unfortunate 2.7% interest rate. This is not going to go down well with the Tottenham Supporters Trust, as they have always been big believers of being financially solvent.
Their matchday income was always going to take a hit as it fell from £94.5million to £1.9million, leading to a £92.1million loss solely from the absence of fans, not to mention their earnings from concessions, and several other amenities in the stadium.
The stadium was also one of the very few footballing arenas that was allowing NFL games to be played, along with concerts and several other events. But their commercial revenue fell down slightly due to the cancellation of the NFL last year. Their commercial earning dropped from £161.5million to £152million.
To add to all of this, after taking over the club in November 2019, Jose Mourinho could not ensure a Top 4 spot for Spurs. They had been competing in the Champions League consistently since 2016. Thus, absence in Europe’s premier competition cost them UEFA prize money, as their revenue went from £52.1million to £23.6million.
The only silver lining in these financial results was that their sponsorship income had increased, as had their broadcasting revenue, as fans had to watch the game from their television sets. On publishing these results, Levy also left a statement, thereby sending a transfer message to Antonio Conte & co. The statement read:
“It is far from ideal to make changes to the coaching staff, however, we have acted swiftly and decisively when we felt it necessary, always looking to act in the best interests of the club.
“We extend a warm welcome to Fabio Paratici, managing director, football, and our new head coach, Antonio Conte, along with his coaching staff. We are also delighted to see Ryan Mason join this group.
“The appointments of Fabio and Antonio are a clear demonstration of our intent and ambition.
“Since opening the stadium in April 2019, we have spent almost £400m on players. Player spending is no guarantee of success, and our focus must be on improved recruitment, coaching, fitness and a competitive mindset.
“Fabio continued the rebuild in the summer, resulting in the average age of our new summer signings being 22 years compared to the average age of 31 years for the outgoing players.
“We shall also look to continue the well-established path for youngsters from our academy to our first team. I know that Antonio’s approach is if a player is good enough, he will play, regardless of status or age.”
Encouraging words, but they do not help Conte. The 2017 Premier League-winning manager clearly understands what it takes to compete amongst the big boys in England, not to mention that Man City, Chelsea, and Liverpool are playing at a completely different level right now.
What is the current state of the squad?
It is obviously going to take a lot to tick the needle and create an unassailing side at the London club. The one megastar at the club in Harry Kane recently had a transfer saga and has not looked the same since. Son Heung-min can only do so much, and the need for another quality winger is dire, evidenced by the lacklustre displays of Lucas Moura and Steven Bergwijn. They are great squad players but have not shown anything to warrant a starting place in one of the top clubs in England. Bryan Gil looks like a fine talent but is going to need nurturing and development. Some time in the U-23s would not hurt his style, and it could prepare him better to compete in the top tier of English football week-in-and-week-out. Giovani Lo Celso needs to start proving his worth, and Dele Alli should be offloaded as soon as possible. The Englishman is unlikely to ever get back to his best, and his lack of pace is not going to work out under the Italian boss.
Pierre Emile Hojbjerg was one of the signings of the season by Jose Mourinho last season as he has been incredible in the centre of the pitch. However, he needs an equally brilliant partner alongside him, or he often runs the risk of looking desperate and rushing into challenges. Oliver Skipp has done well when named in the first team but is very restrictive in his style. He is not a ball progressor and is not the best passer either. He can screen the opposition and lead a press effectively, but that is where the buck ends for him. A loan move to any mid-table Premier League club might be useful for him to hone the other qualities in his game and gain some experience at the same time. It is too late for Harry Winks to turn into any kind of midfield maestro for Tottenham. He looked like a bright young player under Mauricio Pochettino but has not worked on his game since then. He is potentially deadweight that could be moved out of the club. Spurs’ club-record signing, Tanguy Ndombele, is a completely different animal to any of the midfielders. He is, by far, the most gifted player in the team and is a joy to watch on the ball. But it is becoming harder and harder to see where he fits in under Conte. The Italian manager used Nicolo Barella as the playmaker behind Lautaro Martinez and Romelu Lukaku at Inter Milan. Ndombele could certainly play in that role, but he shall have to develop some discipline and run the hard yards to win the ball back. If he fails to do so, Fabio Paratici and Conte are not ones to wait around for a player to boom and do hold the harsh nature to show them the exit door. Pape Matar was an excellent signing, and it was the right decision to loan him back to Nice. However, he might need a couple of more years before he is absolutely ready to play in the senior team.
For all of his qualities, Eric Dier is not an ideal centre-back option. He is sloppy, often rash, and tactically inept. He could be used as a squad player but nothing more than that. The same can be said for Davinson Sanchez but his playing style could work under Conte if he is properly coached by the Italian. Cristian Romero is the best signing under Paratici, and it is a wonder they managed to sign the Serie A defender of the year last season. He shall become a mainstay at the club for years to come and is sure to be a success in this new era. Joe Rodon has looked promising and is likely to feature a lot soon. Japhet Tanganga is a solid defender and would work well on the right of a back-three. He needs to become a little more confident with the ball to become a regular in the first team. Ben Davies could work as an option until his contract runs out in 2024. Sergio Reguilon has a lot to look forward to and might be one of the few players to be the first name on the team sheet. Emerson Royal needs to improve his performances going forward and become a threat. Kieran Trippier and Kyle Walker had incredible crossing abilities and were defensively sound. Royal has a long way to beat these standards, but he now has the opportunity to work under a manager that shall allow him to do so. Matt Doherty is a valuable deputy but needs to push his Brazilian teammate harder for a starting spot.
Hugo Lloris is out of contract next summer unless Levy hands him a new deal between now and the end of the season. Pierluigi Gollini could be signed on a permanent basis if he plays a role in helping Spurs go deep into the UEFA Europa Conference League. He has been indecent so far, but six more months could change a lot.
What does Conte need in the upcoming January and summer transfer windows?
A deputy striker is a must, because Harry Kane has been taking his starting role for granted for over four months now. Dusan Vlahovic has been linked with the club, and given Paratici’s ties to Serie A, not to mention Conte’s, a move could be possible. Juventus are also interested in signing the centre-forward but Fiorentina are thought to be sharing a poor relationship with the Old Lady. A winger shall also do a world of good, and Domenico Berardi, Jeremy Doku, Jeremy Boga, or Marcus Thuram would be good business. Each of them works hard off the ball and have a lot of technical quality on it. They fit a 3-4-3 style of play and, barring Berardi, are on the brink of hitting their professional peak.
Two midfield additions are needed to add some sort of depth. James Ward-Prowse could be an option, as could Yves Bissouma. The club have also been linked with Donny van de Beek, but it is unlikely that Manchester United shall sell one of their fringe stars to a direct Top 4 rival. Franck Kessie and Renato Sanches should be the players Tottenham need to be targeting as their box-to-box style will come in handy in a heavy intensity system.
Spurs would also have to bring in a minimum of two centre-backs and two full-backs. Sven Botman was incredible for Lille last season as the French club won the Ligue 1 title. He would not be too pricey and is one of the more underrated defenders of the current generation. Boubacar Kamara has been priceless for Marseille and is developing into a fine ball-playing centre-back. He understands when to push up and hold a high line but also knows how to absorb pressure. He could genuinely excel under Antonio Conte. Edmond Tapsoba is yet another great find and is bound to hit great heights in the coming years. Bayer Leverkusen could be looking to offload him as they need to recover from the losses they suffered during the pandemic. Luke Ayling could be lured out of Leeds to provide cover in the wing-back role, and his ability to run back and forth constantly will be helpful. Although a bit of reach, Spurs could prise Tariq Lamptey from Brighton and offer them a sizeable fee to let him go. The Chelsea academy graduate is young, creative, and defensively astute. He could give Emerson Royal a run for his money and even replace him eventually.
Alphonse Areola could be brought in the goalkeeping department, as he is being currently used as a back-up to Lukasz Fabianski at West Ham United. The Frenchman is impeccable between the posts and is of a good age profile. Alternatively, the London club would send a statement by signing Andre Onana. The Cameroonian has fantastic reflexes and does not mind playing out from the back. To add to this, he is going to be out of contract next summer, and Fabio Paratici must negotiate a deal for the 25-year-old.
All in all, this could comfortably need an investment of at least £100-150million, or maybe, even £200million, depending on their targets. Conte came to the club to drive them to trophies and appointed Paratici as the football director to bring in exciting talent from around Europe. Both can hold their ends of the bargain if Levy holds his. The financial results paint a pretty different picture, and it looks like Spurs might roughly manage only half of the requirements mentioned above.
This will cause a severe imbalance in the team and cause more frustration to the manager. Mauricio Pochettino and Jose Mourinho have often had to plead for signings, although the latter would express his annoyance with the lack of talent in his squad during press conferences as well. Conte is not too different as he takes no prisoners. He understands it is a marathon but needs to see intent. The supporters have seen some by his appointment, but the Italian needs to be backed too. Liverpool have shown that a title-winning squad can be built through smart recruitment and by promoting players from the academy. However, they have changed nearly their entire squad since the arrival of Jurgen Klopp. Thus, they have backed him. Man City have spent nearly a billion pounds to please Pep Guardiola, and the Spaniard has delivered three Premier League titles in the last four years. Their search for a Champions League goes on, but it is not too far.
Regardless, if Levy hopes to see Tottenham compete amongst the crème da le crème of England and Europe, they need to sign players their title-winning manager wants. The chairman has often worked the club the way he sees fit, but something needs to give to make N17 home to the biggest trophies in the land again. Fans have been incredibly patient for far too long, and it is time to reward them for it. Funds need to be raised, and investment needs to be ploughed despite the downtrodden debt. Fans are back in the stadium, and the ticketing income needs to be put to good use, as do the earnings received from the broadcasting source. They need to sell their naming rights for the stadium soon as it will help them gain a steady source of revenue.
All of this needs to be done and needs to be done fast. Conte shall demand the best and churn it out of his players. Put the finances behind this process, and it will not be long before Tottenham wine and dine amongst the top clubs in Europe.
