Daniel Levy's final move could save Tottenham from financial nightmare

"It's one of those situations [where] when I'm not here I'm sure I'll get the credit."

This was the defiant comment from Daniel Levy to Tottenham Hotspur fans in the wake of significant criticism for dismissing Ange Postecoglou after he delivered what the club had been yearning for nearly two decades. The outrage was understandable - particularly considering Thomas Frank's disastrous tenure - yet it seems Levy's comments may have a lasting meaning.

With The Athletic revealing that most of Spurs' squad have relegation clauses in their contracts, a stipulation inserted by Levy which would result in a 50 per cent wage cut should they drop to the Championship, he may have saved Spurs from a serious financial nightmare.

Financially, relegation could spell disaster for Tottenham, with reduced matchday earnings, TV revenue and several other factors affecting their income. Player salaries also need to be factored in, with a significant squad overhaul anticipated regardless of which division Spurs find themselves in.

Levy's foresight and business acumen were clearly demonstrated in this decision, highlighting that despite Spurs being far from relegation danger last season, finishing fourth from bottom, there was concern they could find themselves in a similar predicament again.

Although the club's former chairman, who left shortly after implementing the relegation clause, faced frequent criticism for his cautious transfer strategy, his financially prudent methods ensured Tottenham weren't unduly worried about breaching profit and sustainability regulations (PSR).

A shift in the club's transfer market philosophy became evident with the substantial acquisitions of Xavi Simons and Mohammed Kudus last summer. Spurs additionally attempted to secure Eberechi Eze but lost out to fierce North London rivals Arsenal.

During January, Conor Gallagher arrived from Atletico Madrid and Spurs made him among the club's top earners. Naturally, his salary would drop considerably should Tottenham fall into a lower division, assuming he remained at all.

Senior professionals including Micky van de Ven and Cristian Romero would almost inevitably leave whilst emerging talents such as Lucas Bergvall, Archie Gray and even Luka Vuskovic, with the latter yet to feature for the club, might be offloaded.

One potential silver lining for the Lilywhites in the Championship could be straightforward integration of prospects including Mikey Moore, Kota Takai, Luca Williams-Barnett and Yang Min-hyeok.

Nevertheless, Tottenham will understandably be desperate to avoid relegation and the squad has ten matches to demonstrate precisely that. They currently sit four points clear of the relegation zone with West Ham United and Nottingham Forest in more perilous circumstances.

Should the absolute worst-case scenario materialise, Levy will have at least assisted the club in averting financial catastrophe, and it seems rather appropriate that an individual previously criticised for reluctance to spend substantially prevents the club from collapsing even following his departure.