Levy makes admission about Spurs transfer spending that ‘everyone seems to forget’

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Tottenham Hotspur Stadium
Dom Le Roy

Football.London have revealed some interesting details from the final three episodes of Amazon’s ‘All or Nothing: Tottenham Hotspur’, which comes out next Monday.

The first six episodes of the series have been discussed extensively on social media over the past couple of weeks, with football fans around the world eagerly waiting to see how the documentary ends.

According to Football.London, one of the scenes in the final three episodes involves a Tottenham board meeting ahead of the club’s Champions League tie against Leipzig, just before the impact of COVID-19 was known.

In the meeting, Daniel Levy discusses the way in which the club’s financial statement will be received given the team’s poor results on the pitch.

He says: “The problem is that we’re issuing this financial statement when we’re not doing as well as we’d like to be on the pitch.

“While we feel like we should be positive in terms of what we achieved last year it feels like it’s all been forgotten, which is a little bit understandable, but I think we need to put it into context.

“Clearly the stadium opening has got to be something we draw out. Getting to the Champions League final, regardless of where we are today, is still an incredible achievement.

“The profit for the year until June 2019, based on this number, is £147m. The profit for the year to June 2020 is likely to be lower than that isn’t it?”

Spurs’ operations and finances director, Matthew Collecott, then responds: “It definitely will be, unless we get to the Champions League final.”

Levy then points out that the club have invested £140million on new players over the last calendar year, a fact that is often forgotten.

The Spurs chairman adds: “Clearly if we finish in a lower league position we’ve lost the TV and media [money].

“I think we need to see what it looks like and decide whether we put a bit of a warning that this year’s number is not going to be as good as last year’s.

“We have spent in the last 12 months, circa £140million on net investment in the team, which everyone seems to forget.”

The final three episodes also feature Tottenham’s technical performance director Steve Hitchen discussing the club’s plans for the summer transfer window.

Hitchens says: “We’ve got a good group of young players. Hopefully, we’ll add two or three players this summer, maybe more.

“It’s difficult for fans because fans always say ‘we should be signing this player’ or ‘we should be signing that player’.

“We’ve been backed in terms of transfer funds. We know where there are holes, where’s there are gaps and Jose has been very clear that they are three or four positions he wants to improve on.

“We work together, always in cohesion with the academy, with Jose, with Daniel, on a long-term plan.

“I think that’s the difference between us and other clubs. We’ve got to always look further down the line rather than today.”

Spurs Web Opinion

Levy has always maintained that the increased revenue from the stadium will help us compete financially and to be fair to him, he has lived up to his word. Our wage structure has completely changed over the last few years with the likes of Kane and Ndombele now earning upwards of £200,000 per week, while we have been more willing to hand long-term deals to older players. He is also right in saying that fans tend to forget the significant investment we have made over the last year on the likes of Ndombele, Lo Celso, Sessegnon and Bergwijn, while we also agreed on a club-record fee for Dybala before the deal fell through. This summer has obviously been much more complicated due to the impact of the pandemic.

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