Tottenham face harsh reality

Daniel Levy admits Tottenham Hotspur are struggling financially.

“Since the opening of our new stadium in April 2019, we have invested over £700m net in player transfers,” Levy said in a statement accompanying the financial results published on Tottenham’s website. Levy is aware of the pressure from the public – demanding the club spend more, buy better players – but he also emphasises the harsh reality.

“I often hear people asking for more spending because we are the ninth richest club in the world. However, looking at the financial figures today, the spending has to be sustainable,” Levy admitted.

Tottenham Hotspur’s latest financial results show that revenue fell slightly in the year ending June 2024 to £528.2m from £549.6m the previous year. While not catastrophic, the figure reflects the club’s absence from European competition last season and early exit from domestic cups.

This is the financial picture that goes along with a forgettable 2024/25 season for the "Roosters". In the context of Tottenham fans increasingly demanding expensive contracts to help the team's position in the European arena, Levy is frank: this is not the time for uncontrolled spending.

In an effort to avoid the club falling into financial ruin, Levy has leased out the Tottenham Hotspur Stadium to non-football events – from NFL games to concerts – to help the club offset the loss of prize money from last season’s tournaments.

Tottenham's football revenue has dropped by more than £10 million, while their European prize money has also dropped sharply from £56.2 million to just £1.3 million. This figure promises to drop even further next season, if Tottenham finishes outside the top 10 of the Premier League and does not participate in European Cup.

Tottenham's hopes of a title and Champions League qualification now rest on the Europa League, where they face Eintracht Frankfurt in the quarter-finals. Levy stressed: "Winning this competition will bring the title and Champions League qualification. We have to give our all to support the team in the decisive stage."

Source: https://znews.vn/tottenham-doi-mat-thuc-te-phu-phang-post1542340.html