Daniel Levy responds to transfer criticism with a 46-word statement in Tottenham’s financial report.

Daniel Levy shares his thoughts on Tottenham’s financial results for the year ending June 30, 2024.

Tottenham Hotspur have reported a decline in total revenue and other income for the year ending June 30, 2024, dropping to £528.2 million from £549.6 million in 2023. The decrease was attributed to nine fewer home games and the club’s absence from European competitions.

Matchday receipts fell to £105.8 million from £117.6 million, while UEFA prize money stood at just £1.3 million after Tottenham failed to qualify for Europe. In contrast, the club had earned £56.2 million in European competition the previous year after reaching the Champions League round of 16.

Despite these losses, TV and media revenues rose from £148.1 million to £165.9 million, while commercial revenues increased from £227.7 million to £255.2 million. Operating expenses (before football trading) dropped to £453.6 million from £487.9 million, and profit from operations before depreciation, amortisation, player trading, interest, and taxation grew by 4% to £144.9 million.

Tottenham recorded a net loss of £26.2 million for the year, a significant improvement from the £86.8 million loss in 2023. Net debt rose to £772.5 million, up from £677.4 million, with over 90% of financial borrowings at fixed rates averaging 2.79% interest. The club’s long-term borrowing structure extends to 2051, ensuring minimal impact on squad investment.

Chairman Daniel Levy addressed the financial report, acknowledging a challenging season but highlighting Tottenham’s presence in the Europa League quarter-finals. He emphasized the importance of sustainable spending, pointing out that while the club ranks among the world’s richest, financial prudence remains crucial.

Levy stated that since opening their stadium in 2019, Spurs have invested over £700 million in player acquisitions. However, he stressed that the club must operate within its means and cannot compromise financial stability. He expressed gratitude to fans and reinforced Tottenham’s commitment to long-term success on and off the pitch.