Daniel Levy told he is wrong about finances as Tottenham lag 28% behind
Former Everton and Aston Villa CEO Keith Wyness has reacted to Daniel Levy’s warning about Tottenham being at risk of financial jeopardy and explained why the North London club need to invest more resources into the first team.
Last week, Tottenham Hotspur announced they had made a loss yet again for the financial year ending June 2024, which is the fourth year in a row where they have posted a loss.
While announcing the figures, Levy warned that the club’s transfer spending over the last few years is not sustainable. He also made it clear that Spurs will not make any decisions this summer that will jeopardise their financial health.
Many Tottenham fans blasted Daniel Levy for his warning on the club’s spending, seeing it as further evidence that he cares more about the balance sheet than on-pitch success.
Keith Wyness claims there is room for Spurs to spend more
Keith Wyness has now reacted to Levy’s warning, opining that Tottenham’s financial health is strong at the moment.
The former Everton chief pointed to Tottenham’s extremely low wage-to-turnover ratio, and suggested that the fans are right in demanding that the club invest more into the playing squad.
Wyness told Football Insider: “The club is managed very well, as we know, and there are no dangers on that side. The stadium revenue is kicking in, it’s doing extremely well. The debt is going down.
“We always think in football that 70% of turnover should be spent on wages in the squad, Spurs are at 42%. That’s where the fans are saying more money needs to be spent on the squad. But Daniel is saying that would put the club in financial jeopardy – and that’s the competing forces.
“The fans are crying out for Daniel Levy to gamble just a bit more, they are fed up with just having a good facility and want a great team as well. It’s always the same in football. I think there is room for Tottenham to have a bit more of a go. I’m afraid they should be doing more to push forward on the pitch.”
Tottenham have the seventh-highest wage bill in the Premier League, and are lagging far behind their ‘Big Six’ rivals. Spurs have the flexibility to go for some big-name players this summer, but it remains to be seen whether Levy and go push the boat out.
Where will Tottenham’s funds come from?
It is clear that Spurs are in a much better position with respect to PSR and FFP than some of their rivals and could thus afford to have a big summer.
However, Tottenham are run very differently from some other clubs in the Premier League as their owners do not tend to put their own money into the club, with Spurs very much remaining self-sustaining.
That means that unless the club is able to make it back into the Champions League and gets a revenue boost, there is not going to be much money to spend, even though the financial regulations allow Tottenham to spend more than they are doing at the moment.
The post Daniel Levy told he is wrong about finances as Tottenham lag 28% behind appeared first on Spurs Web.