Tottenham Hotspur chairman Daniel Levy has emphasized that the club’s spending in the transfer market must be “sustainable” and “smart,” following their latest financial results which showed a decrease in revenue. For the year ending June 2024, Tottenham’s total revenue dropped by 4%, from £549.6 million in the previous year to £528.2 million. Despite the decrease, the club managed to reduce their losses after tax, which were £26.2 million for 2024, compared to £86.8 million in 2023.
Levy acknowledged the concerns of fans who have protested about the club’s spending and the perceived lack of investment in the playing squad. In the notes accompanying the financial results, Levy mentioned that he often reads calls for more spending, as Tottenham is ranked as the ninth richest club in the world. However, he reiterated that the club’s spending must remain financially responsible. He said, “We cannot spend what we do not have, and we will not compromise the financial stability of this club.”
Levy emphasized that recruitment remains a key focus, but the club must make “smart purchases within our financial means.” Tottenham’s ability to generate recurring revenues is a major factor that influences their spending power.
The club saw an increase in television revenue, with £165.9 million last year compared to £148.1 million in 2023. However, their prize money from UEFA dropped significantly, from £56.2 million in 2023 to just £1.3 million in 2024, due to their absence from the Champions League. Tottenham’s operating expenses before football trading also decreased by 7%, from £487.9 million in 2023 to £453.6 million in 2024, attributed to fewer football matches and third-party events. Match receipts fell from £117.6 million to £105.8 million, due to a decrease in the number of games played.
Tottenham’s net debt rose to £772.5 million in 2024, up from £677.4 million the previous year. Despite this increase, the club stated that the average maturity of their borrowings, at 18.6 years, would have “limited impact” on their ability to invest in the playing squad.
Levy’s comments and the club’s financial situation suggest a continued focus on maintaining financial stability while also making targeted, smart investments in the future. Fans will be watching closely to see how the club balances its finances with their ambitions on the pitch.
