Report: Daniel Levy and co make £600m Tottenham spending claim
Football.London’s Alasdair Gold has explained that Daniel Levy and the Tottenham board members met with the club’s Fan Advisory Board at Lilywhite House on Sunday, where the club’s objectives and their net spending were discussed.
It has already emerged last week (Football.London) that Levy, along with Ange Postecoglou and Son Heung-min are expected to answer questions as part of a fan forum.
Gold confirmed that the meeting is indeed expected to take place this Tuesday, with 250 fans set to be in attendance at the stadium for the event.
The journalist revealed the Spurs chairman and the directors also spoke to the advisory board last week, answering questions about the club’s vision and strategy.
An internal manifesto which was created for all the staff earlier this year was revealed at the meeting, with the manifesto reading: “N17. It’s more than just a place. It’s where we dare. It’s where we do. All of us, as one. It’s home to our history, our heritage and our past; but it’s where we focus on the present and future too. Because today is the day when we build the foundations for tomorrow. Foundations that will change lives. For generations.
“Foundations that create extraordinary experiences. Memories to cherish forever and moments which bond us together. It’s where we unleash our creativity and welcome the world to our culture, to our community. Where our rich diversity shines. With pride and purpose. Because we all rise when we lift others. DREAM. DARE. DO. TOGETHER.”
The minutes of the meeting stated the club’s key objective as follows: “To deliver revenues to fund a sustainable, successful football club consistently competing at the top level.
“Football is at the heart of everything the club does and is the club’s key driving focus. The club is self-sustaining, competing in the most competitive league in the world.
“The strategy to date has been to invest in the playing squads, build a new training centre and increase stadium capacity. The focus now is to optimize those investments – both tangible and intangible – and drive revenues that enable the club to reinvest in players and create a winning club.
“Improve on-pitch performances with investment in first teams, scouting and recruitment. The club has previously underlined the need for improved recruitment and has undertaken a review of football operations as part of this.
“Develop new and diverse revenue streams – to further fund investment in football and decrease reliance on football revenues such that we protect the long-term sustainability of the club.
“Upgrade our facilities and operations through continued innovation and lead the way in delivering exceptional player and fan experiences – be digital-first and data-led to enhance fan engagement, service and interaction.
“Revitalise our neighbourhood, something the club has made significant progress on delivering, homes, schools, jobs.”
Tottenham Hotspur have actually been spending big
According to Gold, director Matthew Collecott then claimed that since the opening of the Tottenham Hotspur Stadium back in 2019, Spurs have spent £847,442,145, with a net spend of £605,811,964.
The accounts presented put Tottenham’s spending for last season at £195,614,698, with a net spend of £148,621,308.
So far in the 2023/24 campaign, the figures present allegedly show £253,776,545 has been spent by Spurs with £95,367,224 recouped, with the net spend for the season amounting to £158,409,321.
Gold revealed that Levy then went on to state: “Significant investment has been made, building for the future both on and off the pitch. Club revenues were only those that the club operations generated.
“Financial Fair Play needed to be properly enforced to be effective and the focus now was on optimising revenues and ensuring that the club’s funding strategy is long-term and sustainable. The club is doing everything possible to maximise revenue to go back into the first team.”
Spurs Web Opinion
There is no doubt that Tottenham’s net spend over the past four years has been quite significant but we have made some poor recruitment decisions, which has been exasperated by poor managerial appointments. After several years of missteps, things now seem to be heading in the right direction again.
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