Daniel Levy warned he “will not compromise the financial stability” of Tottenham, as the club’s latest financial results were announced.
The Spurs chairman reflected on a “highly challenging season”, but pointed to the Europa League as a potential source of silverware and a route into the Champions League next season.
Addressing calls for the club to be more active in the transfer window, Levy emphasised that Spurs had to spend within their means.
In the financial results for year ending June 30, 2024, the club’s total revenue was down 4% to £528.2m, with match receipts decreasing by more than £10m due to the club playing nine fewer home games.
Levy said: "As we announce our financial results for the year to 30 June 2024, we currently find ourselves in 14th position in the Premier League, navigating what has been a highly challenging season on the pitch.
“We are, however, in the quarter-finals of the UEFA Europa League. Winning this competition would see welcome silverware and mean qualification for the UEFA Champions League. We must do everything we can to support the team in these final key stages.
“Since opening our new stadium in April 2019, we have invested over £700 million net in player acquisitions. Recruitment remains a key focus, and we must ensure that we make smart purchases within our financial means. I often read calls for us to spend more, given that we are ranked as the ninth richest club in the world. However, a closer examination of today’s financial figures reveals that such spending must be sustainable in the long term and within our operating revenues.
“Our capacity to generate recurring revenues determines our spending power. We cannot spend what we do not have, and we will not compromise the financial stability of this club – indeed, our off-pitch revenues have significantly supplemented the lower football revenues this year, testament to our diversified income strategy.
““I want to thank everyone who supports us through good times and bad. We are resilient and passionate about our Club. We shall aim to finish this season as strongly as we can and continue to build for success on the pitch.”
More to follow...
