The prospect of one of many Premier League’s six wealthiest golf equipment being relegated to the Championship ought to be basically unattainable, given the immense resouces they’ve at their disposal.
However with 10 video games left to play Tottenham Hotspur are only a level above 18th-placed West Ham, and within the sort of wretched run of type that makes it tough to see the place sufficient factors are going to come back from.
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So, what can be the monetary influence on Spurs if the unthinkable actually does occur?
Spurs earned £690m value of earnings final yr, in keeping with knowledge from the Uefa European membership finance and funding panorama report, placing them ninth general in Europe.
That earnings would take a severe hit in the event that they had been to drop into the Championship.
In response to BBC Sport evaluation, the discount may very well be as a lot as £261m general.
One key space during which they might be harmed is ticket income, which earned the membership £130m, the fifth-highest throughout the continent.
At the moment, Spurs cost a median of £76 per fan for every residence match, with solely 5 golf equipment in Europe costing extra.
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Since constructing their new stadium for round £1bn, Spurs have targeted closely on promoting hospitality tickets and company packages for matches with the intention to maximise matchday takings.
However they are going to merely not be capable of cost the identical quantity for a gap day fixture towards a facet like Lincoln Metropolis – who’re at the moment chasing promotion from League One – within the second tier in August, ought to they in the end end within the backside three, and a drop in attendances would probably happen too.
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Elsewhere, Spurs’ broadcast income would plummet too. They’d now not have entry to the funds generated from the Premier League’s profitable home and worldwide broadcast offers, which final yr meant Ipswich City earned extra in broadcast income than Barcelona.
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And the tens of hundreds of thousands they earn from Champions League TV earnings will drop to nothing, except they handle to win the match, which might assure them a spot in subsequent yr’s competitors even when they’re enjoying second-tier soccer.
Moreover, the club-record £269m of economic earnings Spurs earned final yr would probably take important harm.
Sponsorships akin to equipment producer Nike and front-of-shirt sponsors AIA’s offers (value round £70m mixed yearly) may have their values slashed due to relegation clauses.
Taking part in 4 extra residence matches within the Championship might additionally have an effect on Spurs’ capacity to host different profitable occasions and live shows, which the membership has closely targeted on.
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“For a membership of Spurs’ ambitions and monetary scale, relegation wouldn’t merely be a short-term sporting setback”, says soccer finance knowledgeable Kieran Maguire. “The economics of English soccer make restoration a multi-year mission.”