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The chaos on the pitch is now bleeding heavily into the boardroom. There is a growing belief among several of Tottenham Hotspur’s commercial partners that relegation is not some wild scenario but a genuine risk. That has triggered internal reviews of sponsorship agreements ahead of next season.

That is as per Matt Law of The Telegraph. The immediate issue is obvious. European qualification looks highly unlikely, and that alone carries a brutal revenue hit. No Champions League or Europa League means no UEFA prize money, reduced broadcast income and a sharp drop in global visibility. Unless, of course, Igor Tudor manages to do the unthinkable and win Spurs the UCL.

Relegation would be catastrophic. The Premier League’s broadcasting deal dwarfs anything available in the Championship, and even with parachute payments, the drop in income would be dramatic. Commercial clauses remain tied to league status and European qualification, meaning reduced payments or renegotiations could follow. Sponsors do not pay top-tier prices for second-tier exposure. It is as simple as that.

Gary Mabbott might be promoting a whole new...