Tottenham Hotspur chairman Daniel Levy has offered a pointed defence of the club's spending in response to fan criticism of his time at the helm, as Spurs' latest accounts are published - but some fans in the football.london comments section aren't buying it, saying that the figures he's showing off aren't everything.
In reporting their financial results for the year 2023/24, Spurs announced a drop in revenue to £528.2 million - down £21.4 million on the year before. But the club only made a £26.2million loss for the year, compared to the £86.8 million loss in 2023.
Fewer home games and less prize money from European competition account for some of the dip in revenue, while the sale of Harry Kane to Bayern Munich was a major boost to the figures. You can read a more detailed breakdown of what went up and down during the course of last season here.
Fans have regularly protested against what they say is Levy's tightening of the purse strings, and they have only grown louder as Spurs find themselves in a rough spot this season. In a specific response to those fans, Levy said: "I often read calls for us to spend more, given that we are ranked as the ninth richest club in the world. However, a closer examination of today’s financial figures reveals that such spending must be sustainable in the long term and within our operating revenues.
In an earlier part of the statement, he said: "Since opening our new stadium in April 2019, we have invested over £700million net in player acquisitions. Recruitment remains a key focus, and we must ensure that we make smart purchases within our financial means."
Some fans aren't buying Levy's defence. Reader b08mla says: "Levy is a tight wad. He barely spends enough to field one team. Injuries show we have no depth. Top teams are there as they have backup players who are just as good. They can cover if injuries occur, or just to rest and rotate players. I would like to see the team sold to owners who would properly support it. Not just scrape by. Or are we waiting for relegation?"
ABorg writes: "When you look at all those signings, how many of those signings would Liverpool, Man City, Man Utd, Chelsea or Arsenal sign? Not very many I would say. The wage structure at Spurs is a major problem. Where Levy hates paying players big money and especially big money to sit on the bench, we'll never have a squad good enough to win anything.
"The wage structure has to change and be competitive with the top six sides. We'll never sign the right quality of player otherwise. And that goes for players sitting on the bench too."
Steve2970 says: "Levy may well have spent £700m but most of the players brought in have been very disappointing. Given that he has to approve all transfers, the responsibility rest on him." Ar18 agrees: "Apparently we must sustain mediocrity too."
Others agree with the chairman's reasoning that Spurs should be sustainable, and think that others must also shoulder the blame for poor performances over the years. Mingusman says: "There is a ring of truth in what you write but there is also a serious question regarding the tenure of managers. It takes time to build a squad. Poch has been the only manager to have begun to be given the time but we were at Wembley while the new ground was built. He regularly got us into the Champions League including a final and had two seasons either side of a World Cup where we had nine players in the semi finals.
"Without more money going into players we ended up with a tired and un-updated squad, all of which makes Pochettino’s sacking seem rather precipitous. Further, somebody please explain to me why Mourinho, not my preferred playing style, was sacked just before a Carabao Cup final that he had got us to."
Madcaplaughsagain writes: "I think Levy gets too much abuse. I have supported this club for 60 years and am a season ticket holder. I travel from Plymouth to watch the home games. So my opinion is as important as anyone else's. Levy has transformed this club by putting us on a secure financial footing and building a magnificent stadium. I believe success on the field will come very soon."