Tottenham and Southampton remained at odds last night over the amount of compensation the south coast club should receive for the loss of their manager Glenn Hoddle - four days after he announced his resignation.
News of the delay in unveiling Hoddle at White Hart Lane came as Tottenham's owners, Enic, yesterday witnessed a 20 per cent fall in their share price to 47p, a fiveyear low. The drop came in the wake of reports that the company is making £50 million sterling available to Spurs for transfer funds.
Hoddle met Enic officials earlier this week, where the amount of money he will have available for new players was discussed. But City analysts queried the £50 million figure.
According to Nigel Hawkins, an analyst at Williams de Broe: "Short of fund-raising outside what Enic has at present, I think £50 million sounds somewhat excessive. I would doubt the authenticity of that figure, and it would be difficult to reconcile that with their existing financial situation."
Officials of Southampton and Tottenham spent all yesterday attempting to resolve the level of compensation for the remaining 15 months of Hoddle's contract. Rupert Lowe, Southampton's chairman, has threatened to hold on to Hoddle's registration unless adequate compensation is paid, with the club reported to be demanding £800,000.
Even though no announcement has been made, Hoddle is still expected to begin work at Tottenham on Monday, when he should be officially unveiled. The players have been notified that he is to be their new manager.
Meanwhile, Southampton confirmed yesterday that Stuart Gray is to be their caretaker manager until the end of the season. Gray, who declined an opportunity to join Hoddle and his assistant John Gorman at Tottenham said:
"It is a great honour. I have had a few roles at the club, and now the chairman and directors have asked me to step in. It is a huge disappointment that Glenn has left, but that is gone now. We have nine games left and we have to be positive."
With Tottenham due to face Arsenal at Highbury today and the two teams meeting again tomorrow week in the FA Cup semifinal - likely to be Hoddle's first game in charge - Gunners manager Arsene Wenger yesterday praised his former charge at Monaco.
Wenger said he had encouraged Hoddle to go into football management. "I like to keep a check on the progress of good people I have worked with," he said, "and Glenn has done well as I knew he would because he is good, calm analyser of the game."
Wenger also said that neither side needed motivating for the forthcoming north London derbies.
"If there were ever two games when Tottenham didn't need a manager at all then it is for two games against Arsenal. The motivation is already there because of the traditional rivalry and we know we will only get three points tomorrow if we produce a great performance."
Wenger said that he had no intention of leaving Arsenal to join Barcelona and that he was going to honour his contract which runs out in June 2002.
Wenger said: "We will go to 2002 and then see what happens after that. My job is to do well with Arsenal and so long as I feel the club has ambition I am very happy to be here.
"I can't wipe out speculation because it happens all the time. If there are questions every time I speak to somebody from another club there would be stories all the time. Some things should always be kept secret."
Barcelona, meanwhile, have reached agreement with Boca Juniors to sign the midfielder Juan Roman Riquelme for a reported £18 million. The fee would be an Argentine transfer record.
