Tottenham Hotspur chairman Daniel Levy has said that the club's activity on the transfer market should be smart and sustainable after announcing a decrease in income.
The turnover of the club fell from £ 549.6 million in the previous year to £ 528.2 million in their last financial report, although they have reduced losses after tax from £ 26.2 million to £ 86.8 million in 2023.
In the past, Levy has been the subject of criticism because he has not spent enough of the team and, with the club on course for their lowest competition finish in 21 years, there are calls to him to spend great again.
But when he spoke on Monday, he repeated that the club must be financially sustainable.
“Since we open our new stadium in April 2019, we have invested more than 700 million pounds net in player purchases,” Levy said in a statement.
“Recruitment remains an important focus and we must ensure that we make smart purchases within our financial resources.
“I often read calls to spend more, since we are arranged as the ninth-rich club in the world. However, a further investigation of today's financial figures reveal that such expenses must be sustainable in the long term and within our operational income.
“Our ability to generate recurring income determines our purchasing power. We cannot spend what we don't have, and we will not endanger the financial stability of this club.”
The club has announced financial results for the year ending on June 30, 2024.
– Tottenham Hotspur (@spursofficial) March 31, 2025
Central in the decrease in Spurs income was a lack of UEFA prize money, which in 2024 had only earned £ 1.3 million compared to £ 56.2 million the previous year due to their lack of involvement in European competitions.
In the meantime, Levy suggested that although the 2024-25 season had been “very challenging”, he hoped to end a 17-year-old trophy-dried in the Europa League.
Spurs are confronted this month with Eintracht Frankfurt in the quarterfinals of the Europa League.
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