Franco Baldini, the man who spent Tottenham’s Gareth Bale money, is out of a job

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Franco Baldini, the technical director of Tottenham Hotspur for the past two seasons and the man trusted to spend Spurs’ windfall of cash following Gareth Bale’s world-record transfer to Real Madrid two summers ago, will be out of a job in less than four weeks.

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According to multiple reports out of the UK, Baldini and Tottenham chairman Daniel Levy have agreed a severance package that will see the 54-year-old Italian leave his post early following what can only be described as a disastrously poor transfer record in his time at the club. Baldini will be officially unemployed on Sept. 2.

When Spurs were paid $135 million for Bale in the summer of 2013, Baldini had already long been installed as technical director and given control — as much as Levy would allow anyone, at least — of the club’s transfer dealings.

$135 million was then turned into what is now known, only ironically, as Tottenham’s “magnificent seven” — Erik Lamela, Roberto Soldado, Christian Eriksen, Nacer Chadli, Paulinho, Etienne Capoue and Vlad Chiriches.

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Paulinho, Capoue and Chiriches have already left the club, while Soldado’s return (seven league goals in 51 games) has been so poor — and his wages so bloated — that the club has been unable to move him on despite trying in each of the last two transfer windows. Of the seven, only Eriksen and Chadli have proven to be anything resembling a consistent performer at White Hart Lane, though there is still time left for 23-year-old Lamela, the club’s record signing, to come good.

Spurs hired Paul Mitchell, formerly the head of recruitment alongside now-Spurs manager Mauricio Pochettino while at Southampton, to the same position last November.