Tottenham Chairman Levy Insists on “Smart and Sustainable” Spending

Tottenham Hotspur chairman Daniel Levy has emphasized the need for “smart and sustainable” spending in the transfer market, despite the club’s latest financial results showing a fall in revenue.

The club’s total revenue decreased by 4% to £528.2m for the year ending June 2024, down from £549.6m in the previous 12 months. However, Spurs saw a reduction in their losses after tax for 2024, with a deficit of £26.2m compared to £86.8m in 2023.

Levy acknowledged that fans have called for the club to spend more, given its status as the ninth richest club in the world. However, he stressed that spending must be sustainable in the long term, and that the club cannot compromise its financial stability.

“We must ensure that we make smart purchases within our financial means,” Levy said. “Our capacity to generate recurring revenues determines our spending power.”

The club’s financial results showed an increase in television revenue, but a significant decrease in prize money from UEFA due to the team’s absence from the Champions League. Match receipts also dropped due to fewer games being played.

Tottenham’s net debt increased to £772.5m in 2024, up from £677.4m 12 months ago. However, the club said that the average maturity of its borrowings is 18.6 years, which will have a limited impact on its ability to invest in the playing squad.