Finance expert hits out at Levy’s ‘lack of ambition’ after £158m net spend
Financial expert, Kieran Maguire has hit out at Tottenham chairman Daniel Levy, claiming he has shown a lack of ambition over the past decade.
Maguire revealed that, in the decade ranging from 2010 to 2020, Tottenham racked up £686m of gross player purchases. However, once you calculate the net figure after player sales, that actually dropped down to just £158m or £15.8m net spend per year.
These comments come after the results from the Tottenham Hotspur Supporters’ Trust survey were published this month, revealing 94% of fans are unhappy with the direction the club are moving in.
77% were also not satisfied by the long-term strategy laid out by ENIC and Daniel Levy.
The Lilywhites showed positive steps under former manager Mauricio Pochettino, earning consistent Champions League football and even a European final, however, a trophy alluded the Argentine and he was even forced to go 18 months without a single new player.
Maguire stated (Football Insider): “Over the last decade, i.e the 2010s, they had gross player purchase costs of £686m.
“But by the time you take into account the sale of Gareth Bale and a fair few others, it works out as a net spend of £158m.
“So for a club of the magnitude of Spurs to be having a net spend of £15m per year proves the lack of ambition of Daniel Levy.
“It is very much a merry-go-round at Spurs because they are spending substantially but also you have to take into account the net spend.
“If they do sell Harry Kane this summer, that figure will be skewed even further.”
Spurs Web Opinion:
I always find it hard to hit out at Levy for this. It isn’t exactly his money and Spurs are run as a business, meaning they have to work within their means. They also had the stadium to plan for and build during this time. I think we will see a different Levy over the next decade.
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