ENIC's 'Huge' Tottenham agreement really has saved the day: 'It's incredibly lucrative'

ENIC have not often been well regarded by Tottenham Hotspur fans but the owners may deserve plenty more credit.

After a season battling relegation, the Lilywhites will be spending a year outside of Europe.

With that will come the loss of matchday, TV and competition revenue that arrives with playing in Europe.

Losing out financially is certainly not ideal, and Roberto De Zerbi will be looking to bring European football back to N17 and the monetary benefits that come from it.

However, decisions undertaken by ENIC over the last few years may actually help bridge the gap.

While the loss of revenue will be felt, Tottenham have a way of bringing in money that many other Premier League club's cannot tap into.

Daniel Levy can be thanked for exciting ENIC deal

While the football revenue will be lower this season, that could be bridged through the use of the Tottenham Hotspur Stadium.

Under the leadership of former chairman Daniel Levy, the Lilywhites have built a state-of-the-art stadium, one that can be used for many events outside of football.

And now football finance expert Kieran Maguire has detailed an agreement ENIC made regarding the stadium.

Speaking on The Room Where It Happened podcast, he stated: "I think Spurs will be fine and the reason why I say that is twofold. First of all, I've got a list of every single wage bill of the Premier League clubs going back to when it started in 1992.

"Spurs have always paid the lowest proportion of wages compared to the revenue coming in, so they're normally not paying out more than sort of 45 to 50 percent, so they're fairly well covered then.

"And then the other issue with Spurs is that Spurs are no longer a football club from a business point of view. Spurs are an entertainment complex. They signed a deal last year to have 30 non-footballing events with the local council which can be hosting a full-capacity stadium."

The reveal of the 30 non-footballing events led podcast presenter Jake Humphries to double check what Maguire had said.

And once reiterated Humphries replied saying: "Wow, that's a huge theory."

Maguire then went on to explain how Tottenham end up making money from these events.

"And to be fair, they don't sell the tickets themselves, but they go to promoters and they'll say to the promoter, if you're selling tickets for Beyonce or Coldplay or whoever it's going to be, we want, you know, this is our hosting fee.

"It's traditional that if you look at merch sales, the venue will take 20–25 per cent. That's why T-shirts or bands and so on are so expensive if you're buying them.

"So it's incredibly lucrative for Spurs, and I think they've positioned themselves as the premier venue in London for these events, and they've done very well."

Tottenham aren't a football club - this is what they are now

While Maguire states that Tottenham are more of an "entertainment complex" on the business side, supporters will want ENIC to remember that the football part should always come first.

On this occasion, their business model has saved the day in terms of the financial strength Tottenham can show and for that, they deserve credit.

However, this should ultimately be a safety net in times of struggle and a boost in times of success.

That struggle should simply be a rare or one-off occasion, and hopefully, under De Zerbi, we can start to see Tottenham return to the upper ends of the league table.

As things stand, Spurs are certainly more than a football club financially compared to most in England, and that is a strength, not a weakness, as long as that circles back to what happens on the pitch.

Spurs are still very much one of the largest football clubs in the Premier League but that will only be viewed as the case based on their results.