Levy admitted that some transfers “have not worked out as planned” with the club’s revenue increased by 22.7%
Tottenham reported revenue of £440m with their losses being down from £83.8m to £50.1m. but Levy confesses that they made some mistakes in the transfer market.
Tottenham reveal their financial earnings for the past year
Tottenham have reported a growth of 22.7 per cent when it comes to club revenue since their growth has gone from £361.9m in 2021 to £440m in 2022.
The Tottenham Hotspur Supporters’ Trust have questioned the club’s transfer policy in recent years, which has seen them spend more than £500m since 2019. However, the club is adamant in defending their position.
“Our spend levels show we have invested in the team – however, we walk a fine line between long-term investment and short-termism,” said Levy.
“This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons.
“We have felt, and continue to feel, the financial impact of supporting player purchases which have not worked out as planned. We have taken steps to improve this area of operations and we believe the recent transfer windows reflect this.
“This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons.“
“Our aim has always been to combine the financial stability of the club with remaining competitive on the pitch. We have to do what is right for us and sustainable in the long term.”
He went on to talk about how some clubs in the league have changed the game when it comes to financing transfers and added that Tottenham welcome the changes to FFP regulations.
“We welcome the changes to the governance of the game which will compel greater financial sustainability and financial fair play (FFP).” Levy added.
“Major changes have been introduced in Europe around FFP regulations, including the newly-launched UEFA financial sustainability rules, the full impact of which will be felt from season 2025/26. They are based on three pillars: solvency, stability and cost control and clubs will have three seasons to adjust to them.