'Make smart purchases': Tottenham chairman Daniel Levy's latest comments are ominous for Ange Postecoglou
Spurs chairman Daniel Levy has hit back at calls for Tottenham to increase spending in the transfer window as the club's latest financial results see a decline in revenue.
Calls for changes to the club have been a common theme throughout Spurs' campaign this season as manager Ange Postecoglou continues his hunt for a piece of silverware.
A perceived lack of investment in the playing group has been blamed for Tottenham's lack of success by fans, who continue to actively protest Levy's operations.
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In his 24 years with Spurs Levy has seen 16 managers attempt to bring a trophy back to White Hart Lane but only one person managed to do so.
Tottenham Hotspur fans hold up a banner protesting Daniel Levy's operations during the Premier League match between Tottenham Hotspur FC and AFC Bournemouth. Getty
Spanish manager Juande Ramos led the team to lift the Carabao Cup in 2008, the last trophy won by the club, but he was sacked just eight months later.
With Spurs fans still waiting for another piece of silverware to be lifted, speculation continues to grow around the decisions of the "ninth ranked richest club in the world."
Levy insists that while many believe the decision to "spend more" could see promising changes he will not risk compromising the financial stability to the club.
"We cannot spend what we do not have, and we will not compromise the financial stability of this club," the 63-year-old said in a statement on Tuesday.
Tottenham Hotspur huddle. Getty
"Recruitment remains a key focus, and we must ensure that we make smart purchases within our financial means. Our capacity to generate recurring revenues determines our spending power.
"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."
Levy's comments are a clear sign that Spurs will remain frugal in the upcoming transfer window, with Postecoglou unlikely to be granted the funds to overhaul a squad that has been caught short in the Premier League due to a lack of depth.
Spurs recorded a four per cent reduction in total revenue over the past 12 months from $1.13 billion AUD to $1.09 billion AUD.
The club also decreased operating expenses, before football trading, by seven per cent as a result of a "fewer football matches and third-party events."
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Tottenham received $51 million AUD more in television revenue despite match receipts dropping $24.4 million AUD due to nine less games last season.
Net debt increased to $1.5 billion AUD in 2024 compared to $1.4 billion AUD in 2023.
"I want to thank everyone who supports us through good times and bad," Levy said.
"We shall aim to finish this season as strongly as we can and continue to build for success on the pitch.
"We must do everything we can to support the team in these final key stages."
