What Tottenham's two newly-filed documents on Companies House mean with one about Daniel Levy

Tottenham have entered two new filings on Companies House in recent days with one getting some supporters talking.

Companies House is a government agency that maintains the register of all different types of companies within the United Kingdom, both private and public. Tottenham Hotspurhave a number of different companies registered on there in relation to various parts of the organisation, including ones for the club, the stadium, the charitable foundation and even the hotel among others, with other older dissolved companies listed.

This week brought two new filings to the main Tottenham Hotspur Football & Athletic Co. Ltd on Companies House. The most recent one was an expected one with the news that a "Mr Daniel Philip Levy" was the subject of a termination of director appointment file on September 4. That was the day that it was announced that the 63-year-old had left his post as the executive chairman of Spurs after more than 24 years at the helm.

However, there was another filing a few days earlier that had got people talking. It was created on August 29 but was not published until September 1 and was the registration of a charge involving the London branch of Macquarie Bank Limited. That immediately prompted suggestions that there had been a big new cash injection into the club.

There has certainly been a cash injection but technically it's money they already had coming as football.london understands that the filing involves, in technical terms, industry standard receivables factoring.

In layman's terms it's the common practice of selling outstanding invoices to a third party to get the money up front for something that a club expects to get over a period of time. So for instance, in many cases football clubs have used banks like Macquarie to get their expected television revenue in advance.

In this case with Spurs, while the amount is not stated, the Companies House document refers to receivables being "all of the central funds due or owing to or which maybe due or owing to or purchased or otherwise acquired or received by the borrower from the Premier League for the period from and including December 2025 up to and including May 2026 (including, for the avoidance of doubt, the amounts from the Merit Payments Funds (as defined in the Premier League rules) payable around May 2026), in each case together with all ancillary and security rights thereto."

The document is signed at its end by Tottenham's chief executive officer Vinai Venkatesham as well as operations and finance director Matthew Collecott.

Australian-based Macquarie are one of a number of global investment companies that Premier League and Championship clubs have used over the years to get money from things like future TV earnings up front.

Football finance expert Kieran Maguire told the Guardian back in 2020 when this had become common practice: "Every time [a club] renew, effectively they are extending the length of the overdraft and it means that Macquarie are entitled to the money from the next tranche of TV money from the Premier League.

"There’s an awful lot of clubs doing this and it makes a lot of sense. The broadcasting payments are made three or four times a year but you’ve got all of the overheads going out in between, including the wage bill.

"I understand that a lot of banks are providing similar services but, because they are not formally registering a charge, we don’t see the documentation because nothing is going through Companies House. It’s a risk in the same way that if you take out a mortgage and it helps from a cash flow point of view."