Tottenham relegation fight: Are north London club too big to go down?

There has been a number of media reports, external outlining the calamitous cost that relegation would bring to Spurs.

And the club would undoubtedly face a significant financial hit if it was to start 2026-27 in the second tier.

Broadcast, matchday and commercial incomes would all be squeezed, while the most recent wage bill sat at around £254m as opposed to the Championship average of £38m.

There would also be a knock-on effect on transfers, not only in the quality of players the club could attract but also in paying off £337m in outstanding instalments for current players.

BBC Sport’s own analysis points to an estimated fall in annual revenue of around £261m as football finance expert Kieran Maguire said: “In 2023-24, the most Spurs generated an average of £84 per supporter per match, the highest figure in the Premier League.

“That figure would face significant downward pressure, not from the size of the crowd, but from what clubs can realistically charge.

“Corporate clients who pay a premium for a home fixture against Liverpool or Arsenal are unlikely to pay the same for a visit from Swansea.

“There is also great financial vulnerability around sponsorship. The front-of-shirt deal with AIA, worth around £40m a year almost certainly contains relegation clauses that could halve its value.

“The kit deal with Nike, estimated at £30m annually, is likely to take a smaller hit.

“Spurs supporters will still buy replica shirts regardless of division, but a reduction is likely. Broader sponsorship and partner agreements across the club would face similar issues.”

He added: “For a club of Spurs’ ambitions and financial scale, relegation would not simply be a short-term sporting setback. The economics of English football make recovery a multi-year project.”