Tottenham faces unpaid Drip sponsorship bill after liquidation

Tottenham Hotspur are facing an unpaid £86,000 bill following the liquidation of Drip, the canned-water brand that became a training-wear sponsor of the club’s women’s team in 2024.The company, associated with celebrity chef Big Zuu, has entered voluntary liquidation with more than £9m owed to creditors, according to City AM, which reported that Tottenham are not expected to recover their outstanding payment.At the launch of the partnership, Drip was described as a “disruptor in the water market”, with the announcement highlighting sustainability values shared by the company and club.The agreement made Drip the official front-of-training-wear partner of Tottenham Hotspur Women, giving the brand a prominent sponsorship position within the club’s women’s football programme.Worthing are also among the football creditors affected, with £14,000 outstanding, taking the combined amount owed to the two clubs to £100,000.The liquidation illustrates the counterparty risk attached to commercial partnerships, where sponsorship income depends on a partner’s ability to meet its obligations throughout the agreement.A company’s retail presence, investment announcements and profile can support its appeal as a sponsor without guaranteeing that contractual payments will be received.Founded in 2023, Drip secured distribution through retailers including Morrisons and WH Smith and used sports partnerships as part of its brand-building activity.Alongside its football agreements, the business became the official water partner of Matchroom Boxing, although the promotion company is not listed among its creditors.Drip was reportedly valued at approximately £100m last year after securing a £4m investment from Middle Eastern business Raya Holding.That reported valuation provides a sharp contrast with the subsequent liquidation, but a valuation attached to an investment round is distinct from the cash available to settle creditors’ claims.The £86,000 owed to Tottenham relates to a partnership built around the women’s team, making the failure relevant to the security of commercial income as clubs develop sponsorship portfolios for their women’s programmes.The sums owed to Tottenham and Worthing also demonstrate how the same corporate failure can affect clubs operating at very different scales, with the consequences dependent on their individual budgets and exposure.City AM reported that Tottenham are unlikely to recover the money, although the eventual treatment of creditor claims will depend on the liquidation process and the assets available for distribution.The immediate issue for both clubs is therefore the loss of expected commercial receipts, while the broader lesson concerns the financial resilience of sponsorship partners alongside the marketing value they offer.