Chairman Levy Urges Spurs to Approach Transfer Market Spending with Caution and Sustainability

Tottenham Hotspur’s approach to the transfer market must prioritise smart and sustainable spending, according to Chairman Daniel Levy, as the Premier League club revealed a decline in revenue alongside ongoing challenges on the field.

The figures for the year ending June 2024 show a 4% decrease in Spurs’ revenue, dropping from £549.6 million ($709.53 million) in the previous year to £528.2 million. However, the club managed to reduce its losses after tax, reporting a deficit of £26.2 million compared to £86.8 million in 2023.

Levy has faced criticism from fans regarding the perceived lack of investment in the squad but defended the club’s player acquisition strategy while emphasising the importance of financial sustainability for Tottenham.

“Since the opening of our new stadium in April 2019, we have invested over £700 million net in player acquisitions,” Levy stated in a club announcement on Monday.

“Recruitment is a crucial priority for us, and we must ensure that our purchases are sensible and within our financial capacity.

“I frequently see calls for increased spending, especially given our status as the ninth richest club in the world. However, a deeper look at our current financial figures indicates that any expenditure must be sustainable in the long run and align with our operating revenues.

“Our ability to generate consistent revenue dictates our spending capacity. We cannot spend beyond our means, and we refuse to jeopardise the financial stability of the club.”

A significant factor in the revenue decline was a reduction in UEFA prize money, with the north London club earning just £1.3 million in 2024, down from £56.2 million the previous year due to their absence in European competitions.

While television revenues increased from £148.1 million to £165.9 million, matchday revenues saw a decline from £117.6 million to £105.8 million due to fewer matches.

Levy described the 2024-25 season as “highly challenging” on the pitch, with Spurs currently sitting 14th in the Premier League.

The team’s aspirations to end a 17-year trophy drought hinge on their Europa League campaign, where they are set to face Eintracht Frankfurt in the quarter-finals later this month.

Despite the challenges, Levy expressed optimism about the club’s future as they continue to work towards achieving success on the field.