Daniel Levy, Tottenham chairman, acknowledges that supporters want to see more money spent, but he cautions that some Premier League clubs now have the “potential to manipulate the market.” Levy claimed that the level of expenditure in the top division is “unsustainable” for most clubs in a statement accompanying Spurs’ most recent financial results. Additionally, he acknowledged that several recent signings did not go as expected.
The Abu Dhabi United Group acquired Manchester City in 2008, and the Saudi Arabia Public Investment Fund (PIF) supported a £305 million acquisition of Newcastle in October 2021. Chelsea was sold to a group fronted by American billionaire Todd Boehly and private equity company Clearlake Capital in May for £4.25 billion. Levy said he favoured improvements to financial sustainability rules, financial fair play (FFP), and football governance.
Tottenham chairman Daniel Levy claims a few Premier League clubs can “distort market.”
Tottenham supporters demonstrated against club owners ENIC and Levy last month at the team’s practice facility due to a lack of investment. Spurs had not yet purchased during the winter transfer season. Although they eventually finalized loan agreements for Pedro Porro from Sporting Lisbon and Arnaut Danjuma from Villarreal. According to the club’s most recent financial report, Tottenham has spent more than £500 million on the men’s first-team squad since April 2019.
This amount is less than double what Chelsea spent in January alone (£288 million). Tottenham was recently ranked ninth in Deloitte’s Money League survey, which rates the world’s richest clubs by income for the 2021–22 season. Spurs reported a 22.7% increase in revenue to £444 million for the fiscal year ending in June 2022 compared to the prior year, or £361.9 million. In their first full season at the brand-new Tottenham Hotspur Stadium, the team saw an increase in match receipts from £1.9m to £106.1m.
After two seasons of interruption brought on by the Covid-19 outbreak, full-capacity crowds were finally let back into football stadiums for the first full season. According to Tottenham, this led to a loss of about £200 million in revenue. Uefa prize money decreased despite a 20.7% increase in commercial revenue to £31.5 million and an early exit from the Europa Conference League. It was after reaching the final 16 in 2020–21. In May, controlling investor ENIC Sports Inc. added £150 million to Tottenham’s finances.