Opinion: Is Tottenham failing or not - Is the loss at Inter a further symptom of malaise?

STAGNATION - AND NEW COMPETITION?

The new ground has been in the offing for a while.

But whilst the extra revenues are key, there is a limit as to what they can play players.

Kane is their highest paid player, at reportedly £200k a week.

This, albeit for a proven world class striker, is some way below what other world class players earn. In the PL alone, Sanchez, Ozil, Pogba, etc. earn more.

Tottenham's model is similar to their "friends" Arsenal, in that it's not based on cash injections or intra-business loans like Chelsea. So they need a new stadium, and associated commercial dealings, to compete. Only once the stadium has kicked in, will they be able to spend big.

However, once this happens, their rivals may have surpassed or caught them up.

Arsenal, which has not been as well run as Spurs of late, is changing. Ivan Gazidis is leaving for AC Milan, but Raul Sanhelli is a proven appointment with experience from Barca. Emery is a talented coach, who brings the skills/traits Arsenal need in the contemporary era. The club's commercial dealings, despite recent failings, are also boosting revenues (,e.g. the Visit Rwanda sleeve sponsorship is the country's biggest ever deal of that type).

Liverpool is progressing, as are City, Chelsea, and United. United have issues with Mourinho, but it's unlikely to assume they will be subdued forever.

So let's say it takes three to four years for the stadium to bear fruit. Arsenal could have emerged from their post-Wenger slump by then. City could still be dominant, and United may have won a league, who knows? Liverpool and Chelsea would still be contenders, and maybe Everton with their new monies may compete. Wolves are another potential long-term contender, with new and ambitious owners.

So this current time is a precarious one for Tottenham - and the stadium delays only worsen and complicate things.