They say it never rains but it pours: struggling Tottenham Hotspur’s latest problem is Drip, the canned-water company owned by celebrity chef Big Zuu, whose liquidation has left the club high and dry.
Spurs signed a deal in 2024 making Drip the official front-of-training-wear partner of the women’s team, with much fanfare around the shared sustainability values between the club and the company, described as a “disruptor in the water market”.
But the club – stranded in the relegation zone without a win from their opening six matches despite spending over £300m in the summer – are now not expected to receive a drop of the £86,000 owed.
Drip entered voluntary liquidation with debts of more than £9m. National League side Worthing FC have also been left in choppy waters, owed £14,000.
The drink brand, founded in 2023 and stocked in retailers including Morrisons and WH Smith, also became the official water partner of Matchroom Boxing, Eddie Hearn’s promotion company, though Matchroom are not listed as creditors.
Last year, Drip was valued at around £100m after securing a £4m investment from Middle Eastern firm Raya Holding.
LIV Golf in BC’s hands
The precarious nature of LIV Golf’s future has been laid bare in a change to the restructuring support agreement.
After Saudi Arabia’s Public Investment Fund withdrew from its multi-billion-pound investment in the league – forcing LIV to declare bankruptcy – the original agreement stated that the league would be deemed viable for a rescue package from BC Partners if at least 50 per cent of players, accounting for at least two-thirds of the total player claims, signed up.
But those terms have now changed, leaving the threshold at the total discretion of the private equity firm – meaning BC Partners could review the list of players and decide not to proceed.
LIV Golf is racing to secure the future of its players by the October 25 commitment deadline. Jon Rahm, the two-time major winner with an unsecured £5.5m claim, was the first star to pull out. Rahm’s lawyer told a bankruptcy hearing the new terms were “unacceptable”.
European players’ resolve will be tested after the DP World Tour said it would ban players signed up to LIV from competing in their events, effectively ruling out Ryder Cup selection.
Both LIV Golf and BC Partners are understood to be bullish about pressing ahead with plans for what they are calling LIV 2.0.
Manchester United’s new staff member in ticket fight
Manchester United are recruiting a “Supporter Escalations Executive”, suggesting the club are strapping in for a prolonged battle with season ticket holders and members.
This column first reported in the summer that season ticket holders had started receiving emails informing them their account had been restricted while activity potentially breaching ticketing regulations was investigated.
Supporters of several decades claimed the club were forcing out loyal fans to make more income from tourists and corporates – though the club have insisted it was a legitimate exercise to try to weed out touts and bot activity.
City AM has been told that attention has turned from season ticket holders to members, and the recently posted job advert suggests much more is to come. The listing says the role is key to “support the club’s mission to tackle ticket touting” and that the successful candidate will manage “a high volume of complex supporter investigations, sanctions, appeals and escalations”.
F1 teams to discuss easing cost cap
Formula 1 teams are set to discuss proposals for easing the cost cap to help constructors outside the top four.
Introduced in 2021 to improve financial sustainability, the cap has coincided with a boom in team valuations. The cap was increased by £60.5m to £162.4m in April, but mid-tier teams believe rising costs are making it impossible to compete with the grid’s leaders.
In a move thought to be driven by Williams, the prospect of a sliding-scale system is due to be raised at an F1 Commission meeting in November.
Any changes would require six of the 11 teams to vote in favour – unlikely next month, though the debate is expected to continue.
Luke Littler show to copy Ally Pally
Tickets have gone on sale for Beat Luke Littler, the live Netflix show where 20 amateur hopefuls will take on the darts sensation in a single leg for the chance to win £501,000.
Darts fans flocked to the heats in Manchester and London in scenes akin to X Factor’s heyday and City AM has now been told that, with more than 2,000 tickets on sale for the night, organisers are confident they can replicate the magic of the World Darts Championship at Alexandra Palace.
Ally Pally hosts around 3,200 raucous fans per session, while Manchester Central will welcome up to 2,800 for the Littler one-off. Fancy dress is encouraged and doors will open at 4pm for the 7pm event. Littler has warned: “I won’t be going easy at all!”
Euro 2028’s safe bet
While English football takes steps to shed gambling sponsorship, the Football Association is powerless to stop Euro 2028 from having an official betting partner.
The FA severed ties with betting companies after ending its Ladbrokes deal in 2017, while Premier League clubs agreed to a ban on front-of-shirt gambling sponsors, which came into effect this season.
But that has not stopped Betano, a Greek international online betting platform, attaching itself to Euro 2028 – the first international men’s tournament to be held entirely on these shores since Euro ‘96.
The agreement has been signed with tournament organisers Uefa, who take full control of operations once the tournament begins.