Tottenham Hotspur and West Ham United are on the brink. If relegation becomes a reality, it would not simply end with failure to remain in the Premier League. Analysts say it could lead to financial losses on the order of hundreds of billions of won and the collapse of key squads.
The Sun of Britain reported on the 23rd (KST), "Tottenham and West Ham face relegation fate on the final day, and if relegated they would inevitably suffer huge financial blows."
The outlet noted that both clubs own large stadiums that can hold more than 60,000 people, but those very venues could become a burden if they are relegated to the Championship (second division).
The scale of the financial damage Tottenham would suffer is particularly shocking. The outlet said, "If Tottenham are relegated, they could face a financial gap of about £250 million (about 510.1 billion won)."
The parachute payment given to relegated Premier League clubs is about £45 million (about 91.8 billion won). But Premier League broadcast revenue is nearly three times that amount.
In addition, the £71.6 million (about 146.1 billion won) revenue earned this season from participating in the Union of European Football Associations (UEFA) Champions League would also disappear.
Matchday revenue and commercial sales are also expected to drop sharply. However, Tottenham has also put measures in place to prepare for relegation. Former chairman Daniel Levy reportedly inserted clauses in player contracts cutting salaries by about 50% in the event of relegation.
West Ham's situation is also serious.
West Ham recently recorded a loss of £104 million (about 212.2 billion won) in its financial statements. Revenue has continued to fall, and inside the club there has even been talk of "possible liquidity shortages in the summer of 2026."
If relegated, West Ham may need to sell players totaling at least £100 million, analysts say.
The possibility of squad breakup has also been raised. Tottenham would likely face a large-scale exodus if relegated. Captain Cristian Romero has been named the likeliest candidate to leave the team first.
Romero, who earns more than £200,000 a week (about 408.11 million won), is being linked with transfers regardless of whether he stays. Micky van de Ven is also likely to leave if relegated, and his market value is estimated at about £60 million to £70 million.
Guglielmo Vicario has been linked with a move to Inter Milan regardless of results. In addition, Jed Spence, Richarlison, Pedro Porro, Yves Bissouma and others are also expected to leave the team in succession.
West Ham is also likely to sell key assets. Captain Jarrod Bowen has attracted interest from Chelsea and Newcastle United, and Mateus Fernandes is reportedly of interest to Manchester United and Arsenal. Tomas Soucek, who is loved by fans, is also being mentioned as a possible transfer-market target.
The manager's future is also a variable. Tottenham coach Roberto De Zerbi declared when he took the job, "Whatever happens, I will stay." But it is uncertain whether he would make the same decision in an actual relegation scenario.
Tottenham may still have to pay De Zerbi up to £12 million (about 24.5 billion won) in salary even in the Championship.
West Ham coach Nuno Espírito Santo also has a contract through 2028, but local reports consider it likely he would leave the team if they are relegated.
Stadium operations are also a practical concern. Tottenham earned about £130 million of its total £690 million in revenue last year from matchday income. That ranked fifth across Europe.
In the Championship, demand for VIP packages and corporate customers is likely to plunge. The outlet said, "The marketability of a match featuring Lincoln City instead of Liverpool is completely different."
West Ham's London Stadium is also a problem. Under a 99-year long-term lease, West Ham currently pays about £4.4 million a year in rent. But if relegated, rent would fall to about £2.5 million.
The outlet analyzed, "A contract that was already controversial could be even more detrimental from the perspective of London citizens." It also predicted that if Premier League tourism demand disappears, the problem of empty seats would become more severe.
However, both teams are still widely regarded as having a high chance of immediate promotion. Tottenham is considered to have abundant promising youth resources such as Micky Moore, Ashley Phillips, Will Lancashire and Luka Vušković.
West Ham is also classified as a strong promotion candidate based on club size alone. However, the outlet strongly criticized, "West Ham has experienced transfer-market failures since the sale of Declan Rice, and the club's operating methods are outdated."
In the end, both teams will have their fates decided on the final day.
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