With reshuffling in the boardroom, and possibly in the dugout, it may be that transfers are not yet at the forefront of the minds of the power brokers at the Tottenham Hotspur Stadium.
That will need to change soon, given that Tottenham’s 2024-25 season ended not just with a first trophy in 17 years, but also a worst league campaign since their most recent relegation in 1977. This is a squad that clearly needs bolstering and, as head coach Ange Postecoglou has said himself, could also do with an injection of top-level experience.
The Athletic looks ahead to what may happen in their corner of north London this summer…
Who will make the key decisions during this window?
Johan Lange has overseen recruitment since becoming Tottenham’s technical director in November 2023. He receives support from chief scout Rob Mackenzie and head of football insights and strategy Frederik Leth, with Postecoglou and chairman Daniel Levy providing their input when required. Lange’s arrival prompted massive change within the recruitment department. Lots of long-serving scouts left as the club pivoted to a data-centric operation.
Over the last two years, they have been heavily focused on signing players under the age of 23. Goalkeeper Antonin Kinsky is the prime example of their new approach. Not many Premier League observers had heard of the Czech Republic Under-21 international when he joined from Slavia Prague in January for €16million (£13.5m), but he immediately impressed on his debut against Liverpool in the first leg of a Carabao Cup semi-final. Kinsky is young (he turned 22 in March) and scored extremely well on their data metrics.
Lange does not crave the limelight in the same way as Fabio Paratici, Tottenham’s former managing director of football. The signing of Wilson Odobert last August exemplifies Lange’s low-key style. That deal with Burnley was done swiftly and discreetly, with very little coverage in the media before it was officially announced by Spurs.
What positions will they be looking at in the summer window?
The lack of depth in Tottenham’s squad was brutally exposed last season as they struggled to deal with the demands of playing regularly in the Europa League, suffering a major injury crisis. The Champions League will be a significantly greater challenge come September, and they need quality reinforcements for it. Postecoglou explicitly mentioned this after their defeat to Brighton on the final day of the season, when he spoke about needing players “who are going to be comfortable at that (Champions League) level, not players who are stepping up to that level.”
Spurs desperately need a centre-forward capable of easing the pressure on £65million club-record signing Dominic Solanke. Backup striker Richarlison only made 15 appearances in 2024-25, for a grand total of 500 minutes, because of calf and hamstring injuries.
Rodrigo Bentancur and Yves Bissouma are not perfect fits for the holding midfield role and both only have a year left on their contracts. Spurs need to consider whether it is worth keeping them or finding an upgrade.
Brennan Johnson was their top scorer in the Premier League with 11 goals but can be guilty of fading in and out of games. Maybe the Wales international would benefit from added competition on the right wing. Dejan Kulusevski can provide cover for Johnson but his performances up until January made it clear he belongs in a central attacking midfield role.
What is the manager’s priority?
This is the multi-million pound question.
At the time of writing, there is still a lack of clarity over Postecoglou’s future. Everybody is in a state of limbo as we wait to see what will happen to the man who guided Spurs to their first trophy in 17 years. If winning that Europa League final helps keep Postecoglou in the job, then expect him to focus on recruiting experience for his third Tottenham season.
Spurs over-relied on a core group of young players in the campaign just ended, including Destiny Udogie, Lucas Bergvall and Archie Gray, who will need more help in the future. If Levy decides to sack Postecoglou, his replacement will surely want signings who suit his preferred style of play.
It is not an ideal situation to have this much uncertainty heading into a transfer window. Prospective targets will wait to see what happens with Postecoglou before deciding whether they want to join Spurs or not, and that might open the door for other teams to make a move.
Are there any specific players they are targeting?
Spurs enquired about signing Yoane Wissa in January but Brentford made it clear they would not sell the DR Congo international forward in the middle of a season. Wissa, who finished the campaign with 19 goals in 35 appearances, has one year left on his contract, though Brentford have the option to extend it by an extra 12 months. He would be a shrewd signing as he is capable of playing in multiple positions across the front line but the size of the transfer fee and then his required salary might be off-putting as he turns 29 in September.
Who will they be looking to sell?
A big decision needs to be made about their two defensive midfielders. Bentancur performed better last season, which might mean it is time to wave goodbye to Bissouma.
Richarlison put his injury problems behind him to start both legs of the Europa League semi-final and then the final but it may also be time for him to leave. The Brazilian tends to score when he plays, but has struggled with fitness issues for all three seasons he’s been at Spurs. Manor Solomon has just helped Leeds United win promotion from the Championship and is a prime candidate to be sold when he returns from that loan.
Cristian Romero is the vice-captain and was instrumental in Tottenham’s European success. The Argentina international recently turned 27, has two years left on his contract and publicly flirted with the idea of playing in Spain’s La Liga in April. Spurs fans would be gutted to see Romero leave, but he could command a substantial fee if he did, and his inconsistency might make it tempting to cash in.
Pierre-Emile Hojbjerg’s loan to Marseille last summer will be made permanent in this one for a fee of €20million.
Will anyone move out on loan?
When everybody returns from loan, Spurs will have a massive squad. There are some players, such as Bryan Gil, who will probably leave permanently in this window and others, including youngsters Will Lankshear and Yang Min-hyeok, who could benefit from another loan where they will receive regular game time.
Does Jamie Donley deserve to be part of his parent club’s first-team squad now after a wonderful season with third-tier neighbours Leyton Orient?
What moves have they made already?
The club agreed a deal with Hadjuk Split two years ago to sign Luka Vuskovic, and he will finally arrive this summer. The centre-back had to wait until he turned 18 in February before he could join Spurs. Vuskovic impressed on loan with Belgian side Westerlo last season and it will be interesting to see if he is immediately included in the first-team squad at Tottenham or heads out on another loan.
Vuskovic is highly rated and has been called up by Croatia’s national team for the first time ahead of their World Cup qualifiers in June.
The original plan was for Tottenham to sign Kinsky in this window but Guglielmo Vicario’s ankle injury forced them to bring their plans forward to January. Mathys Tel was borrowed from Bayern Munich in a deal including an option to buy, so they need to consider whether to take it up. Kevin Danso’s loan from Lens contained an obligation to sign him permanently, which will be activated in the coming weeks.
What sort of budget do they have and what is their PSR position?
Winning the Europa League final last month should significantly boost Spurs’ spending power.
When the club released their accounts for the 2023-24 season in March, 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. Our capacity to generate recurring revenues determines our spending power. We cannot spend what we do not have, and we will not compromise the financial stability of this club.”
If Spurs had not beaten Manchester United in Bilbao and so been out of Europe for next season, it would have been difficult to foresee them spending significant amounts on players this summer, at least without making sales first. But now they are in the Champions League as Europa League winners, with a guaranteed four home games in its league phase, the situation is a bit brighter.
PSR headroom has never been a problem for them. The Athletic has estimated Tottenham have wiggle-room of more than £200million to spend. The issue has been whether they have the actual cash to do that, even with revenues breaking £500m in the last two seasons. But the prospect of that flow of Champions League money coming back online next season should make for a more comfortable summer.
The prize pot for UEFA’s blue-riband club competition this season was around €2.4billion. Every club who qualified for the league phase was rewarded with €18.6m, then got an extra €2.1m for every win, with draws worth €700,000. Even if Spurs lose every game in the 2025-26 Champions League, they would still earn a significant amount of money, and that’s before you add gate receipts, merchandise income and food sales.
If Postecoglou goes, his replacement will feel confident about being sufficiently backed in the transfer market.
(Top photo: Levy, right, and Lange; Getty Images)