Tottenham Hotspur released their financial results for the previous financial year (ending on 30 July 2020) on Monday and it made for pretty grim reading.
The club recorded a loss of £63.9m in the financial year, compared to a £68.6m profit during the previous year, which was largely down the loss of matchday and broadcast income due to the coronavirus pandemic.
Tottenham projected that a loss in excess of £150m was likely for the next financial year if fans are not allowed back into the turnstiles at North London.
The fact that the club is in such a precarious position financially makes it even more surprising that they spent a relatively large sum on transfers during the previous transfer window.
Tottenham reportedly spent £47.7m net on Pierre-Emile Hojbjerg, Joe Hart, Matt Doherty, Sergio Reguilon, Gareth Bale and Carlos Vinicius (including the £12m made on Kyle Walker-Peters’ sale) before shelling out an additional £11m on Joe Rodon, which brings the total outlay to £58.7m.
Football.London revealed that Tottenham were able to sign as many players as they did despite their troubles mainly due to Daniel Levy’s negotiating skills.
Not only did the Spurs chairman reportedly manage to agree on bargain deals for many of the arrivals but several of the payments for the various deals are said to be spread thinly over instalments.
The report reveals that Jose Mourinho was delighted with how much effort Levy and the club’s transfer committee put into getting him the players he wanted to balance his squad despite the financial woes.
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