Finance expert Kieran Maguire has claimed that other Premier League clubs should be jealous of Tottenham’s business model after the club recently published their annual finance report.
Tottenham revealed they had a pre-tax loss of £80.2 million and saw revenues drop from £403.2 million to £361 million in the 12-month period until June 2021.
The report also showed that Spurs had an outgoing figure of £205.5 million spent on wages for both players and staff between that period.
The figure, though, will not yet account for the fee paid to Nuno Espirito Santo after he was sacked as the club’s manager earlier this month.
Spurs’ wage spend in relation to the club’s total revenue particularly caught the attention of Maguire, who feels the rest of the Premier League clubs ‘would give their right arm’ to post such figures.
Speaking to Football Insider, he said: “The results are really as good as can be expected. If you adjust for Covid, Spurs probably would have made a profit. They also still keep a pretty tight ship in terms of wages.
“That is to their credit because it meant they were not more vulnerable to economic shocks because of Covid. Their strength and weakness is that, as a business, they are extremely terrifically well run.
“Spurs’ average wage is £95,000-a-week, then you’ve got Man United and Man City both at £160,000-plus. That means they are competing in a slightly different pool to the bigger clubs. Their cost base is low.
“Their wages were only 57 per cent of revenue, which other teams would give their right arm to have in a non-Covid year.”
Spurs Web Opinion
While many Spurs fans have their grievances with Daniel Levy – and rightly so with some aspects – it is hard to deny that he has built a solid business model. But we have seen just how secure we are financially over the last few seasons, so we need to see that translating on the pitch quickly.
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