Tottenham Hotspur are likely to have slight concerns about their revenue machine potentially starting to slip in the coming years.
That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that their lofty financial earnings may not be "durable" in the long term.
This comes after the recent reveal that Spurs' commercial revenue during the 2024-25 campaign totalled £277million, compared to just £126m made from matchday revenue.
Wyness believes that the club should not be concerned about the disparity between the two numbers, but has acknowledged that they can potentially expect the commercial figure to dip in the coming years.
The Lilywhites have become one of the Premier League's leading clubs, but they must continue to innovate and find new ways to bring in cash.
Wyness has no doubt that Spurs cannot just rest on their laurels and expect to see their revenue machine continue to tick over.
Tottenham not yet feeling effects of key exits
Everton's former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that Tottenham are yet to feel the true effects of the departures of Daniel Levy and former chief financial officer Ryan Norys.
The pair were both key drivers behind the North London side's ascension to become the commercial gold standard for Premier League clubs, but are no longer part of the project at Spurs.
Speaking on the latest edition of Football Insider's Inside Track podcast, Wyness explained how their absence could be felt by numbers dipping in the coming years.
"The ticket revenue, et cetera is largely capped by the number of seats that they've got available. 62,000 or whatever. So, that's the situation that's going to be there. So that's going to be reasonably static," he said.
"The question is, is that £277m really durable? We talked before about Mr Norys going recently, and of course, Daniel Levy as well, the architect behind the revenue machine.
"It's still a big issue for Spurs, and we've seen some bad signs, as we've discussed in previous weeks, about some of the sponsors invoking performance clauses.
"It's just going to be interesting to see how sponsors react as things go forward. It's so crucial for Spurs to get things right on the pitch. But just how resilient are those numbers? That's what the key question will be."
Stefan Borson 'surprised' by Daniel Levy 'rumours' at Tottenham Stefan Borson 'surprised' by Daniel Levy rumours
Former Manchester City financial advisor Stefan Borson recently told Football Insider that he would be "surprised" if Levy is still involved at Tottenham in any capacity, despite recent rumours suggesting that he is still playing a role behind the scenes.
The Lilywhites paid a £27m compensation package to their former executive chairman last year, and Borson does not believe he will ever return after that.
Levy still owns a portion of ENIC, the company that own the club, but his stake has slowly dwindled down in recent months.
He was largely responsible for Tottenham's move into their new stadium back in 2019l, and the club are still reaping the rewards for that move.