As West Ham gear up for their London derby clash against Tottenham Hotspur, the rivalry extends far beyond the pitch. Despite finishing above Spurs last season, many Hammers fans still cast envious glances towards North London, where Tottenham’s lavish transfer spending, world-class stadium, and recent European appearances paint the picture of a club on the up.
But beneath Spurs’ financial bravado lies a different story. According to a report in the New York Times, Tottenham Hotspur currently have a financial charge registered at Companies House, held by Macquarie Bank. This charge is tied to future Premier League payments due between December 2025 and May 2026.
Karren Brady
West Ham and Tottenham both borrow against future earnings
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Rather than wait for the money to arrive in instalments, Spurs chose to take the cash upfront. Macquarie advances the funds and gets paid back as the Premier League makes its central distributions — pocketing interest in the process. It gives Spurs instant liquidity to act fast in the transfer market or cover running costs without delay.
Sound familiar? It should — West Ham’s owners have used similar methods, including a reported £145 million loan facility from Barclays, plus borrowing from Rights and Media Funding Limited.
West Ham borrow but won’t spend
But the frustration in East London lies in Tottenham’s willingness to invest. In December last year, ENIC — Spurs’ ownership group — injected £35 million directly into the club via share issuance. That’s something West Ham’s board have notably refused to do.
West Ham often plead poverty
For Hammers fans, this isn’t just about borrowing money. It’s about ambition. Risk appetite. The feeling that their club is willing to push boundaries and compete at the top.
As the two teams prepare to face off, it’s clear the real battle isn’t just for three points. It’s a fight for prestige, direction — and the future.
Still, we’ll gladly take the points on Saturday!