Tottenham announces huge losses in its budget

Tottenham Hotspur chairman Daniel Levy announced the club's financial results for the year ending June 2024, noting a 4% decrease in revenue compared to the previous year. Revenue fell from £549.6 million to £528.2 million, due to increased challenges on the pitch. Levy explained that the club was able to reduce its losses after tax, with a deficit of £26.2 million, compared to £86.8 million in 2023. The club chairman emphasized that the coming period will witness a focus on smart and sustainable spending, indicating that the club's transfer market strategy will be balanced and calculated. Regarding the criticism Levy has faced from the club's fans due to the lack of spending on major signings, the Tottenham chairman emphasized that the club is working to balance the necessary investments in strengthening the squad with maintaining the club's financial sustainability. He added that the goal is to build a competitive team without placing a financial burden on the club that could affect it in the future. These statements come at a sensitive time for the club, which is facing significant challenges in terms of technical performance on the field. The team has been suffering from inconsistent results in the English Premier League, which will increase the pressure on the management in the coming period.