Spurs - Its all about money
UK time is: 05:03:28
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Its all about money

The two current ongoing transfers the club is struggling to finalise are both, in different ways, all about money.

In the case of Adebeyor its about a club being held to ransom, in the case of Modric it may be about exchange rates and the Spanish economy. I said all last season that whatever happened to Ade there was no way he was going to lose money on the deal.

Now, it appears, having agreed a deal with Spurs Ade is demanding City's 5m transfer fee to make up the shortfall in earnings. The problem for City is there is no way out, 5m is 28 weeks wages, keep Ade another year and it costs them even more. Indeed keep him one more week, making 6 weeks of the transfer window, and it will have already cost them a million.

Even if another club made a better offer it wouldn't necessarily help, Ade doesn't have to agree a move. If I was cynical I might think Levy was quite happy with the current situation, its hard to see how City can win and every week Ade remains on their books is a week off our wage bill.

I have no sympathy for City, they didn't have to offer the player such an obscene amount of money. I do wish it would give some of our supporters pause for thought though before they moan about the club not giving players huge pay rises, wishful thinking I know.

The Modric sage is confusing but one thing to note is that sometimes stories quote the fee in Pounds, sometimes in Euros. This doesn't matter as long as exchange rates are stable, only they're not, the Euro has dropped about 10% against the Pound over the past 12 months. That would still not be a problem in a cash up front deal, you know the exchange rate on the day. Problem is that Real want stage payments, which immediately means one side or the other has a currency risk.

If the deal is in sterling then Real run the risk of the pound strengthening against the euro, if the deal is in euros then we run the risk of getting less than we thought. From Levy's behaviour I get the impression the deal would be in Euros. There is a further risk, what if Spain dropped out of the Euro altogether? It may seem a remote prospect but given the state of the Spanish economy (25% unemployment and a collapsing banking sector) it could happen.

If you were owed money by a Spanish club in a currency that either they no longer belonged too or no longer existed would you ever get paid?

To me it makes perfect sense for Levy to want to get paid for Modric up front, debts stretching out over several years are not a good idea in the present economic climate.

Written by jod




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The journalist

Writer: Jod Mail feedback, articles or suggestions

Date:Monday August 6 2012

Time: 8:54AM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Spurs Articles

MLS All Stars vs Tottenham Hotspur. (Wednesday July 29 2015)

The Catalyst? (Wednesday July 29 2015)

Transfer Window Tactics (Wednesday July 29 2015)

Hugo Staying? (Monday July 27 2015)

One Too Many (Monday July 27 2015)

Oi 'llow Daniel, init... (Saturday July 25 2015)

Is Austin Still An Option? (Friday July 24 2015)

Early shopping (Friday July 24 2015)

Fantasy Football (Thursday July 23 2015)

Archived Spurs Articles

List All Vital Spurs Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Premier League Network Sites

Vital Members League (view all)

1. Highgatespur 346
2. Topspur1 283
3. Real Deal 259
4. Spursex 233
5. MAN ON! 193
6. Pollo 150
7. zzz 144
8. Taricco the yid 117
9. spurdon 114
10. TH4Life 114

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
11. Newcastle 0 0 0 0 0 0
12. Norwich 0 0 0 0 0 0
13. Southampton 0 0 0 0 0 0
14. Spurs 0 0 0 0 0 0
15. Stoke 0 0 0 0 0 0
16. Sunderland 0 0 0 0 0 0
17. Swansea 0 0 0 0 0 0

Spurs Fixtures (view all)

Breaking League News

Double Woodman Exit? Freddie Loan Confirmed
Newcastle : 29/07/2015 20:51:00
Wisdom Signs as Miquel Departs
Norwich : 29/07/2015 20:06:01
Chester Completes Move - No Diaby
WBA : 29/07/2015 19:39:01
Friendly - Walsall 0-2 Albion
WBA : 29/07/2015 19:31:01
Bilic Admits Song Interest Burns Bright
West Ham : 29/07/2015 19:07:00

Current Site Poll (view all polls)

a Straight Answer in the NFL Share?
Suggested By:  Vital Spurs
Yes! 82%
No! 18%