"Fantastic business case study" | Kieran Maguire on what makes Spurs a very well-run business

[@IvanOMahony]

On another note... I'm not a spurs fan, but i do remember Levy sacked Mourinho the week of them playing in the League Cup Final at Wembley. Rumour was, Mourinho had a trophy bonus in his contract. What does that tell you about his priorities?

[@smoothOP55]

Levy has ruined the club

[@Amberle38]

It will be very interesting to see what they do about Ange if they do somehow make it past Liverpool into the league cup final again.

[@paulie-g]

@@smoothOP55 He's done no such thing. Objectively, Spurs used to be outside the traditional top 4 with a 35k stadium and couldn't attract players if other big clubs were interested, or pay enough to keep them. They first broke in and made the top 4 a top 6, they've now got a big stadium that makes a lot of money, paid for it with a very low-cost loan unlike the bleed Arsenal experienced, have enough top line revenue to make it into the Deloitte top 20 (and even top 10 iirc), and plenty of room on the wage bill and PSR headroom. Spurs is in a much, much more promising and prominent position that they ever were historically. The trouble is that sporting achievement hasn't materialised except in patchy, trophyless form (I'd argue the run to CL was an achievement for a club like Spurs, as many final appearances as Arsenal who've been better/bigger/richer for longer). Frankly, to a disinterested observer, this looks like a club that's ready to be sold, either to an owner that wants a profitable cashcow or an owner who wants to be able to put in a lot of money and spend without worrying about the same PSR restrictions Newcastle are experiencing. The trouble is that a) Spurs don't have the same historical cachet as clubs that have already been bought, b) ENIC are likely to ask a lot of money, and c) there are only so many oil states and unhinged hedge funders with a coke habit.

[@StuTheDon17]

​@@smoothOP55 The club was ruined long before he was ever involved

[@johnjamesc123]

The sacking happened when Mourinho tried to rest players for the final risking league form which Levy wanted prioritised as he wanted CL...for monetary reasons surprise surprise!

[@alexpegler465]

I’m a Blackburn Rovers fan. We’ve won the same number of trophies as Spurs this millennium (1 league cup) and paid 10 percent of their wage bill. Well done us.

[@stephenworsleymusica]

Was it David Dunn who scored? Such a bad day for us. We got ground down.

[@alexpegler465]

@ Matt Jansen and Andy Cole mate. Probably the best day of my childhood.

[@jo_magpie]

"Fantastic business case study"😂😂😂

[@CoysMasterson]

Difference is that every other team OTHER than the top five richest clubs who won ANY silverware over the last 25 years were all RELEGATED. Only Leicester have come back up. Yes. Well done Blackburn. Levy is prudent… which is good, but Too prudent is bad.

[@anansistirade5800]

Yes well done you. If there was a trophy for relegation you’d have more than anyone else as well.

[@ducati916SPS]

"To Dare is Too Dear" 😂😂

[@peterm7548]

Great stuff!

[@HuNtEREJordan]

I must say this was a well done piece of reporting & discussion imo. Well worth a listen/watch.

[@Gasbap]

It's very one sided imom glossed over facts like the wage bill last year or the fact we are buying teenagers these days. If the young ones do well, they'll get a pay rise with a contract extension too

[@BulletToothYID]

Lowest wage bill for players but the highest earning chairman…..that’s ALL you need to know. Levy is (and has always) been lining his pockets, it’s just a cash cow. ENIC and LEVY OUT

[@Juiceworld21]

Doug ellis was the worst chairman,he was so tight,even sold all the car parks villa owned to private companies,before he sold the club anything he could make money off he sold.

[@agin1519]

Concerned about that % figure. They’ve got a high revenue. Wouldn’t want to be Man United or Everton over paying for mid talent.

[@a.demifemiflapo5795]

LEVY IN 😂

[@logirex]

Well it is not the lowest it is the 6th highest wage bill in the league with a 15th place position 🤦‍♂

[@agin1519]

@@logirex hope they put some medical facilities in there somewhere. They’ve gotta be full right now!

[@Mezzala9]

Levy getting some PR in to try and bring the heat down 😂

[@hammadali545]

No you can dislike him all you want but as a business all this guy said is true

[@TheTororist]

lol, highest paid prem ceo. this is bad PR.

[@kevparkin4846]

“You don’t fall in love with a football clubs balance sheet”… Man City fans quietly hiding the poster of their favourite player, the CFO, from their bedroom wall.

[@bobofett3966]

City living rent free in your head

[@kontomylitis]

Did you watch the same video as everybody else?

[@bago696]

Cheats cheats cheats​@@bobofett3966

[@ZamilAkhtar_17]

It's quite the opposite, red cartels brag about revenue and all. They are happy their owners are not spending to keep their moral high 😂.

[@kflex1812]

@@bobofett3966 Truth hurts boyo?

[@markdance574]

Legend has it Levy refused to build a trophy cabinet with room for future trophies in the new stadium so he could save afew thousand quid .

[@wilson3387]

spurs have no need for a trophy cabinet HAHA

[@hoodinisharif1860]

Y’all are so lame spurs do have trophies they’ve been poor since the 2000’s

[@wilson3387]

@@hoodinisharif1860 sorry you can put the audi cup as a centerpiece on the longest bar HAHA

[@terencemartin3649]

@@wilson3387 didn"t spurs win that twice. ? ? or was that another out of season trophy.

[@wilson3387]

@@terencemartin3649 correct they are 2 time Audi cup winners

[@LiamPierce3000]

Wages to revenue is interesting. Villa at 96% is actually insane

[@ulfanfinneriksen4643]

Recruitment at Spurs is the area they can do substantially better.

[@sie4431]

I'm not sure that's true. 15 years ago I'd have agreed

[@user-ms3nd1or2l]

The recruitment is for whom the manager wants. Sacking them every 18 months screws that up

[@blrbrazil1718]

Recruitment has improved enormously under the new team.

[@ewanski0848]

Recent young signings already proving to be good additions.

[@ravensongsessions6087]

Ultimately recruiting the right people is about paying the wages. We don’t pay well so that limits the quality of the individual. We have spent a fair amount on transfers, but we have bought lots of lower level. Compare to Liverpool who will spend big occasionally for key people. That’s smart business

[@satpalsagoo9420]

I’m an Arsenal fan I think Levy has done brilliant with the stadium and training ground, he’s built the foundations but he’s on a rinse and repeat cycle when it comes to managers!

[@Cxdxvnmbhhv]

You lot haven’t much more 😂, spurs are closer to a trophy than you lot

[@terencemartin3649]

@Cxdxvnmbhhv now then boys behave.

[@mattsavage9960]

​@Cxdxvnmbhhv delusional I hate Arsenal being a liverpool fan, but they do win trophies and are constantly in fights for the titles etc. Where are spurs?

[@brandonerick]

@CxdxvnmbhhvMajor trophies in the last decade…… Arsenal: 4 Spurs: 0 Please elaborate how being 1-0 on aggregate to Liverpool of all clubs makes them close to a trophy…

[@Cxdxvnmbhhv]

@@brandonerick is that including charity shields 😂😂😂what’s the record vs Chelsea? 😂 the team I support. Arsenal are 3rd biggest club after Chelsea and West Ham.

[@dreamjackson5483]

Good piece backed up by numbers and facts

[@dt7894]

I’ve always said that when it comes to the business aspect because I enjoy learning about economics and business in general, Daniel Levy is a bloody great businessman but it seems that he’s forgetting what the main product of the business is and the one that gets you eyes and that’s football

[@MrSheepytoo]

I think you're wrong, back in the day most owners were also fans, some have been fans of their club since childhood. Whereas now most owners are businessmen looking to make money, the football side of their operations is almost seen as a hindrance not an asset, just look at how Manchester Utd are cutting costs within the club in the meanest penny pinching ways....Spurs owners will carry on as long as they can get away with it. Its all about the cash

[@stephenremnant8151]

That was really interesting and proof that Levy doesn’t support his managers with the salary structure they need to get the right players in

[@zhilong]

I don’t need the video to proof that, Levy is horrible from years of watching the football club.

[@d.b.cooper1]

To me the funniest thing is how the Spurs owner pulled a masterclass buy giving Levy a minority stake but making him the face of the club. So all the abuse goes to him. This is what the Glazers at Man Utd are now trying to do with Ineos/Sir Jim Ratcliffe. Great way to deflect blame/add another barrier of defence. But agreed, Spurs have been woeful...all at a time when countless top teams like Man Utd/Chelsea fell off, you'd think they would've nabbed a title/trophy here & there....but nope.

[@pistonslapuk]

Levy and his family own 30% of ENIC who own tottenham. Not a minority stake and it’s his cash cow.

[@jimy2x]

Not really, ineos' share covers football operations. It's what they paid.

[@d.b.cooper1]

@ Is that why they're also leading all the financial decisions? All the cuts, price hikes, restructuring of non-footballing exec positions etc? Ineos have free reign to do all the things the Glazers never had the balls to do.

[@hassaanraza1090]

Excellent interview.

[@davidweight2671]

Which Board of Directors ever left a business when the balance sheet was so positive? None. If Spurs supporters want change at the top talk their language - stop giving them your money and demonstrate that you are no longer going to put up with this. So don't turn up at the stadium and stop buying the spin off products. An empty stadium will send a message and the down turn in income will talk to the balance sheet. It will hurt for a bit (especially if you have invested in a season ticket), but if change is what supporters want then supporters need to change the behaviour that is making it compelling for this Board to stay. Hit them where it hurts - the balance sheet!

[@hoodinisharif1860]

They run it more like a business instead of a football winning club which they could easily do.

[@hoodinisharif1860]

Also we wouldn’t be seeing this video if we had our squad fit. We have 14 senior players out & the club won’t sign anyone. Buy a CB & a versatile defender who can play LB OR RB. A versatile winger would help also.

[@blrbrazil1718]

​@@hoodinisharif1860: Voskovic arrives in the summer. Agree about LB and wing (although Salomon is doing very well at LU and Odobert will be back from injury during the run in).

[@AmielWalia]

When Wenger built Emirates and kept Arsenal playing good football and in the top 4 Champions League for 20 years - he was lambasted by media in UK. Now spurs are fighting relegation and Sky are fawning over their business model..... weird that.

[@prevenuemaker5843]

Levy is amazing business man I'm not going to take that away from him, however us Spurs fans are wanting success on the pitch and if thst is mor hoing to happen get Joe Lewis to sell the club and sever ties with Enic. We want an owner who's objective is winning as well as running the football club responsibly.

[@taylormartyn]

5:25 transfer spend 2013-2025: Liverpool £1.34 billion, Tottenham £1.33 billion. Trophy cabinets for each team in that period . . .

[@theaveragetom8392]

Transfer spend is nothing. Fees are amortised through various years. The true figure is in the wages with the fee as a total cost, that is commited spend. Liverpool and Spurs wage bills night and day since CL final.

[@F3arlessWarriorMindset]

This should cheer up all Spurs fans, Spurs is one of the top top clubs for financial prudence and sustainability 😅. 😂.

[@whitecross_fc]

Liverpool only spent 1 million more than 2013 and they've achieved soo much more compared to Tottenham says a lot

[@PrinceOlaf]

10 million

[@justincoleman1700]

This is transfer fees no expenditures bro. Liverpool far more on wages than spurs!

[@kJ922-h3j]

Look it up Sky released a total net spend table adjusted for inflation from 1992 to 2017 or 2018 and Liverpool were actually 2nd, above Man Utd and behind Chelsea with £1.242bn spent at that time which was £3.27bn with inflation, Man Utd 3rd with £1.236bn which was £3.200bn with inflation, with Liverpool on zero Prem titles to Utd’s 13, interesting 😂

[@vknfu983]

You pay good wages

[@jonathancampbell9133]

​@@kJ922-h3j cool story bro... the lies rival fans make up to be ok with Liverpool being better than their club. Priceless.

[@17thegunner]

5:41 "They could do a cup treble in 3-4 months". Brother this is Tottenham we are talking about here.

[@VMBSSS]

😂😂😂😂

[@Dalanco]

Unfortunately Man City are not in the Europa League and we have already knocked them out of the Carabao Cup. Only hope of a Trophy is if we face City in the FA Cup Final 😂😂

[@eldante4139]

We will be embarrassed in the league cup semi final second leg. Not looking forward to it. We were beaten at home by Leicester, what chance we win at Anfield 🤦🏻‍♂️

[@17thegunner]

@@eldante4139 Chances are very slim for y'all at Anfield.

[@AchtungBaby77]

@@17thegunner Never underestimate the power of Spursy. It's something they'd do to lose at home to Leicester, then defeat Liverpool at Anfield.

[@bigerichunt9413]

The future for Tottenham Hotspur looks really bright:- 1) Most profitable club in Premier League history. 2) Best stadium in the world. 3) Spent the same money on transfers as Liverpool in the past 12 years. 4) Had a higher wage bill than Arsenal in 2023/24. 5) Well within PSR, so in a great position to snap up some quality bargains when the bubble finally bursts for reckless/wasteful spenders like Chelsea and Man Utd. Spurs Fans: Not good enough. Get rid of Levi.

[@davyprendergast82]

A well run business, but a well run club? Look at Liverpool, spent .01bn more yet leapt from more or less midtable at the start of the 2010s to champions of everything and possibly champions again. A well run business and a well run club!

[@bennwaters5851]

I read somewhere that Levy said spurs have a cash flow problem. The article reported that due to the added expenses of hiring more staff to run events and the actual blowout of costs such as utilities to host the NFL and concerts had far exceeded forecasts. On top of that they have seen a major decline in money from European football and the fact that spurs can't demand as big a sponsorship money as the bigger clubs in the world has limited them to the current wage bill.

[@GeoffV-k1h]

Spurs pay one person the highest salary of any PL club... THE CHAIRMAN.

[@salfetka]

Part me thinks Tottenham should spend more on wages but on the flip side look at Man Und - poor stadium, have paid loads on wages, loads on transfers, out of CL have won 1 League Cup and FA cup. So what the club is running out of money, so why should Tottenham risk their financial stability

[@nicholasdesnoyers1667]

That's the key word "business"

[@TheSaxon.]

Football clubs are run to win trophies. You obviously want a well run business but that isn't or shouldn't be the absolute priority, unlike "normal" business.

[@raymondqiu8202]

​@@TheSaxon.Well it obviously has been the priority for some top clubs like Man Utd and Tottenham. The guys there are treating it like a cash cow so ur very clearly wrong

[@scottmcnaughton539]

Liverpool are a great example of smart buying and consistency in management. When the style isn't changing every 18-24mths with a new manager spending less is easier.

[@lordlucan66]

I'd prefer it if they were a well run Football club.

[@MtbAddict109]

Spursy by name, Spursy by nature

[@carlsimmons305]

Would be interesting to see the cost comparison for EPL Teams against results

[@samuelolisa-h9e]

imagine man united spending 2.6m and still fighting relegation 😂😂

[@VincentRoper]

LOL

[@gavinblack450]

2.6 billion even , yeh crazy.

[@stanmarr4488]

Fighting relegation???...a bit of a stretch there init?

[@samuelolisa-h9e]

@stanmarr4488 if you are not fighting for the tittle or top four then definitely u are fighting relegation that is only three things to fight for in the league

[@Kupferdrahtful]

@@samuelolisa-h9enah there are like 6 to 10 teams that fight for nothing in the last ~10 premier league games which is kinda lame

[@cammac57]

For all that talk of finances they could have simply shown football performance vs. spend… Points per wages. Wins per transfer spend. Pick any or average them all out. 1 number to show a comparison of clubs irrespective of spending levels.

[@hilly451]

Getting beat off Everton, Leicester and Ipswich isn't Levy fault

[@jonzygon391]

Ange is symptom but Levy is the cause of the problem, both need to go!

[@Rodney-Blackburn]

The clubs should come to an agreement that wages and transfer fees should come down substantially. Example the maximum transfer fee for the best player in the world should be £100m and his wages should be £100k per week. Go back to how it was in the early 2000s. Fees like £82m for Antony, £88m Mudryk, £97m for Lukaku, £72 Hoijlund, £89m Pogba, £72 Sancho, £72m Pepe etc should never happened if there was a structure in place

[@ryan4640]

The bubble will soon burst no doubt. I'm sure people behind the scenes are getting back handers for some of these deals. Man city brought a 16 year old off us for reported 500k-1m+ He'll never play there so not sure what they probably offered him and his family behind closed doors. They also brought a 14 year old off us for £300k so I am hoping the bubble bursts lol

[@blrbrazil1718]

Wishful thinking, I'm afraid. The EPL is endeavouring to become the richest and most powerful league in the world, while FIFA is attempting to sabotage that by overloading the schedule. Eventually something's going to break and it looks like being the health of the players. Spurs are feeling it first because of the sudden change from just EPL (early elimination in domestic cups) to 4 simultaneous competitions (including a newly enhanced EL).

[@agin1519]

Gray and Bergvall playing every game now! That’s not future investment. That’s a big part of the problem. Ange’s football demands a very athletic team and they’re knackered.

[@edmanning274]

I think it's fair to say that the squad isn't complete yet as we're in the middle of a rebuild. There will be more signings in coming windows which will increase the average. We also lost our highest paid player not so long ago which dropped the average.

[@alephworkshop]

Finally we are having a breakthrough of clear information and hopefully Levy the shnorra is watching

[@milesf_4609]

Key word - business. We are not a football club anymore, we are a business whose season objectives are a rolling stones tour and a go kart track

[@methik38]

They keep saying Newcastle spent tons of money.. they even in the thumbnail lol

[@odinmaveth6224]

City made so much selling players. Half prem is full their academy players. City net spend since pep very very reasonable.

[@Amberle38]

Yes, funny how it's easy to do that when you spend a decade hoovering up youth talent from clubs who can't compete with bonuses on offer or cushy jobs for family 😂

[@BennyB-kn7zo]

Yes. Built off the back on an unlimited spend to develop that academy from a nation state.

[@odinmaveth6224]

@BennyB-kn7zo rivals been hoovering talent since 90s

[@odinmaveth6224]

@@Amberle38 yer like utd ars etc done since 90s

[@liberalslayer7220]

I’m pretty sure that Liverpool are the ones who have been fined for stealing the academy info from the rivals and the signings they have made from the Chelsea and city academy players. Manchester United also turned down the likes of palmer and a number of players who have gone on to be top level players. City and Chelsea are the most successful teams in player development and transfer dealings. Tottenham are only included because of the amount they received in the Kane transfer compared to the amount of academy players that play in the top teams in the league that have come from the Chelsea academy. Nearly Every team in the league has a player who has played for the Chelsea academy and not only that but they are also one of the best players in the team they play for. There are many players in the best teams in European football that have a player from the Chelsea academy Bayern Munichx2 Barcelona x1 and AC Milan x3 players. Napoli x2 to name a few

[@AceOfDeatho]

What I don't get is why spurs fan don't get how much money league position means. They will significantly hindered if they don't finish higher than they are even if they they survive.

[@AllanM2e0]

And this is what football has come to. All football fans have to have a degree in accounting instead of watching the football game itself.

[@blrbrazil1718]

Football fans have to realise that they are not privy to the inner secrets of a football club, especially during the transfer window - nor are they entitled to be. I'm very disappointed with the way the window has gone so far (despite some decent reinforcements in the Women's squad), but we just don't know what's been going on behind the necessarily secret scenes. Either we trust the administration to know what they 're doing or we don't.

[@peterm7548]

Not winning anything and risking relegation by not paying the going rate for top players seems really stupid for a football club. But this is a multi-entertainment venue business in which football is just one offering. Football is no longer the core business at Spurs it seems.

[@innovirtua]

True. If you support Tottenham, you're a business fan, not a football fan.

[@genericwhitemale9566]

Im gonna screenshot that thumbnail so i can send it to the next United fan that says City bought themseleves to the top.

[@GranblueEnjoyer]

City did though, united earned the right to spend that money

[@bigfudge2031]

City's "income" comes from their owners' "shell companies" it's not legit income. And United don't spend money... we throw it away.

[@genericwhitemale9566]

@GranblueEnjoyer not really. United got their money the same way every top tier Premier League club did, outside investments from billionaires. Just cause United spend their money like they've only got half a brain isn't City's fault.

[@raymondqiu8202]

That thumbnail isn't gonna do you much good. It shows they have spent less than United but have been far far better on the pitch producing better results. So they actually have bought themselves to the top, unlike Utd who have bought but stayed mediocre

[@blrbrazil1718]

Like MU did in the Women's League, while Spurs earned their place.

[@jaja5870]

Spurs new motto: "You will win nothing but be happy" 😂

[@davidjbiscoe957]

It's an entertainment venue where sometimes a football team plays. Look at the brochure. It lists everything but football is last

[@zionsong2033]

Fun fact: managers who got hired and fired after pochetino have either won a trophy or competing at the highest level.

[@_RandomPea]

Good to see the billions of pounds that needs to be spent to be considered "top 6"... Good one PSR... Really good 👍

[@paulthompson1577]

Son i dont no how hes still there and no top team has brought him in the Premier league

[@bigfudge2031]

Probably because Levy wants too much money for him and Son is too polite to hand a transfer request in.

[@blrbrazil1718]

He's at a top team.

[@RODAN_FPL]

Everton with 1.31 bn wage bill is utter nuts

[@NathanBradley-w1z]

I envy Tottenham and their operation. Id be surprised if the investment in football doesn't come shortly. Very powerful position, when you're sustainable. Unlike, my club United.

[@Grumpy-Steve]

Not a single mention that the wage bill for Totteham has gone down further than the 42% on this clip having sold and let go of high earners this last season. Levy has basically asset stripped the football side.

[@ctrl-shift-run8681]

Falling in love with a club for their balance sheet lol.

[@denisoleary5302]

No mention of the new apartments they are building?

[@blrbrazil1718]

When looking at the wages to revenue ratio, one has to bear in mind that Spurs have a relatively new and young squad and that their wages are going to increase substantially over the next few years. DL has created the margin to be able to do that without endangering the club's financial health. AV are in serious trouble!

[@IvanOMahony]

Why is it that commentators in the UK think their audience is too dumb to understand what percentages mean? Like some saying: "X amount of pennies in the pound" Or "Out of every £100, £42 is... blah blah" Yes, we ALL KNOW that's what 42% means!!! 🤦

[@bigfudge2031]

Because some of them are dumb.

[@KikiAmyMelon]

Every time Levi is under pressure from fans these articles seem to pop up. Levi is the problem at the club.

[@jimstanborough825]

The Deloitte numbers came out recently, so timing was irrelevant

[@documax123]

Players 'wages' have been utterly ridiculous and out of control for 2 d3cades now. Good for Spurs. 70% of revenue to players is obscene.

[@thefifthhour45]

Last time I checked this was "Sky Sports News" not "Sky Business News".

[@RubberDicky]

Sick observation bro!

[@blrbrazil1718]

Sport is a business for those running it.

[@shubchatt]

Tottenham has a built a spanking new stadium. For which they will have to pay interest. Hence for the next 5 years or so, the team will have done well if they qualify for ECL.

[@kkiat424]

Support ur team when they're losing & not performing. Support them when they needed the most. Or else u don't deserve to celebrate with the them when they r winning. Big Ange need a few more seasons at Tottenham

[@jordanbeckford7044]

The team don't lo e them back its evident

[@MK79LDN]

How can an owner hire and fire 16 managers every 18 months and never win a trophy, it’s astonishing. Why would a manager go and work for him unless he is desperate for money or a real Spurs fan since birth?

[@Dalanco]

You are completely right. Any manager considering Tottenham only needs to call Jose or Conte and they will be told to never go there. We are finished while Levy is controlling the football side of the Club

[@johnjamesc123]

Levy paid conte 12 million pa and currently pays Ange 5 million pa. Its a pay day when they get sacked, so it's win win for any manager.

[@conats]

What’s more astonishing is that Spurs fans want to sack another manager and expect a different result. Why would a manager or player want to go to Spurs? No titles, no desire and no stability. A: Money

[@MakeSense71]

​@@conatsPoch was there for over 5 years, title challenge and 2 cup finals, so if the recruitment is right, Spurs could do much better than currently

[@raymondqiu8202]

They get paid heaps to got here probably. That's the only reason they would go there. They know the club aren't gonna be good enough to really be contending for trophies

[@jaedon7446]

“If it wasn’t a football club” lmao

[@Earthcycles959]

Since 2013 to current chelsea sales is 1.7 billion

[@liamoconlocha3264]

I've been discussing this for a long time but few believe it, Kane money paid for their last year's transfers, they make more than most clubs, they haven't discussed the turnover, which is a shame, because it shows personal wealth more important than a good team. Time for a major boycott from fans.

[@TotalllFootball]

So Liverpool has spent 1.34 billion in transfers and their fans always act like they can't afford a can of tuna

[@TheSaxon.]

Spent the same as Spurs but look at what Liverpool have won in the last 10 years.😂

[@TotalllFootball]

@TheSaxon. still spent 1.34 billion.

[@glynquigley4364]

Nobody says we have not spent but we had to generate it via sales of Coutinho, Solanke et al. FSG won't spend a penny in the team. It is not their way

[@TotalllFootball]

@glynquigley4364 don't mention net spend because City has a better net spend than Liverpool

[@HANZOREIZA]

& this is before June 24, when Spurs further reduced their wage bill

[@antonythomas2213]

Net spend will give a better indication

[@fader1912]

People should look at Man City’s net spend as that’s a more accurate representation and for Liverpool. They’re actually very close, almost the same and they’re significantly less than someone like Arsenal, United and Chelsea net spend

[@careyfreeman5056]

What happens to the balance sheets when there are empty seats and declining international/sponsorship interest? You can only soak people for so long.

[@Jammon23]

No such thing as empty seats in London bigger clubs. Someone will take the seat if you don't.

[@careyfreeman5056]

@@Jammon23 To watch a Championship team? 3rd highest prices in England? IDK, I'm in the states, but if teams don't win over here (and the owners are seen as soaking the fanbase) the seats start to empty and the owners get nervous. Which is kind of weird since we have full revenue sharing over here (stadium revenue just the cherry on top of that).

[@Juiceworld21]

Chelsea are doing 8 year contracts so their wage bill seems smaller than it actually is.

[@liberalslayer7220]

Chelsea has reduced the wage bill by multi millions and is only higher due to the amount of players on the roster. The length of the contract has nothing to do with the yearly wage bill.

[@conats]

⁠@@liberalslayer7220Not true. Juice is correct. If you divide the transfer dollars by 8 instead of 5, the yearly bill is lower. Simple trick accounting. Chelsea’s problem will be if a player underperforms. They’ll be stuck with him for up to 8 years as they’ll be too expensive to sell. 😉

[@liberalslayer7220]

@ The 8 year contract is a way of getting around the FFP rules that spread the transfer fee across 8 years compared to the general 4 year contract. So the comparisons between the transfers of say Rice to Arsenal who is a yearly fee that costs the same as Chelsea is covering for Enzo and Caicedo. The reason why the transfer of Havertz was classed as a profit is because the player value to the club was half the value that Arsenal paid for him fact that Chelsea has already sold players who were on long contracts shows that it isn’t a problem compared to what the likes of Rashford and Antony are getting paid by united. The majority of Chelsea Players are on 100k a week and the highest paid players are the ones that they are currently trying to sell Kepa Chilwell Sterling and James are the highest paid players at Chelsea.

[@purehyperbole5727]

Spurs isn't a well run business without being a football club. The 'good business' is built on the commitment of the fans. They monetise the passion of the fans.

[@ronrogers6942]

Levy controls the player aquisitions ask Poch you can put the lack of performance on Ange . But Levy is renowned for thin Squads . Injuries and they are in deep water .

[@MakeSense71]

No squad is big enough to cope with 14 injuries

[@blrbrazil1718]

DL has moved away from player influence, building a strong team to handle that.

[@sebseb8643]

Great coverage. Spurs should be spending more

[@jimstanborough825]

I'm surprised that the fact Spurs have not sold naming rights to the stadium wasn't mentioned. Why is that?

[@adammohamed..]

We want to much money. And without no success massive businesses won’t want to be associated with failure

[@blrbrazil1718]

The current name is yielding more publicity than we'd get from naming rights. And Spurs want to adopt a name everybody can be proud of, not just a corporate name.

[@ulfanfinneriksen4643]

Aston villa cutting it close I see. They better sell Watkins to Arsenal.

[@TheGreatVivek7]

They don't have to since they are in CL this season so the tournament prize money and broadcast money would be considerably high for this season, which would reflect in next season's report. Last season Tottenham were in Champions League which is why their percentage is low, something these analysts (if they can be called that) probably have no clue about.

[@johnjamesc123]

The difference here is all the others clubs bought with a view to win where spurs bought to just make profit. Winning is not on the agenda at spurs, its not the business model Levy operates.

[@JR-sj1jz]

Something that confused me in this video is the Sky reporter kept referencing money earned through the champions league etc. And how it sort of maybe justifies Spurs perceived lack of spending. My issue is Spurs have qualified for the champions league for two seasons. And unless a miracle happens, it will be 3 seasons in a row by the end of this season. So how can a club be praised for doing something they have not done for what will soon be a 3rd season in a row.

[@mrjesabi]

A very well rin club wins trophies and does it without extreme spending.

[@jaywrightesq.7730]

Why not post the current wage totals, rather than talking about what is happening now and posting >10 year historical figures?? 🧐

[@AK47_.]

Levy being exposed and I’m actually loving it. I’ve been saying this for years. But everyone thinks spurs haven’t got money. They can spend as much as citeh. Not saying they should. But the fans are getting fleeced.

[@RakeshG-hyd]

Well spurs fans are willing to pay despite the lack of success. How can any business turn down free money.

[@Mr_Linka]

You look at the graph of all the cash these “big six” clubs have pissed up the wall, yet they go on with their business with no reprimand, but the likes of Newcastle, Forest or even Villa have to account for every last penny incase they make an error in the transfer market! If any of the “small” clubs purchased players that don’t work out, it affects them for the next three years, but these clubs do it on the regular!

[@MyFUTclub]

Why would levy leave. Man's earning billions

[@theycallmebaus]

The problem is Spurs are not who everyone thinks they are. Any good player that can command high wages will probably go to 4/5 teams if possible before going to Spurs. They have ambitions which the club and history cant match and no pull for players who ca actually make them bigger. They're simply the best of the rest and not a part of the big dogs.

[@morocoblack]

Liverpool have spent less because their new manager didn't find a broken team

[@MB-jn5zi]

This is only 2025. Man City would have looked like Villa at some point. Liverpool doing the business without hitting that 70% it was not mentioned that Spurs will get a lot more money from the Eurooa League than domestic cups and how much roughly that will be?

[@David-xy2ly]

Fans are brilliant at giving reasons for spending owners money lol 😂

[@blrbrazil1718]

Yes, most seem to think splashing out in the transfer market is the solution to everything.

[@kJ922-h3j]

5:16 Sky released (I think it was in the summer 2018) a total net spend table adjusted for inflation from 1992 to then and Liverpool were actually 2nd, above Man Utd and behind Chelsea….and obviously at that point they hadn’t won a single premier league in those 26 years

[@Lee-fc3yf]

Nonsense.

[@kJ922-h3j]

@@Lee-fc3yf really isn’t, look it up it will take you to google images but you can see the sky table, I think it was 2017 not 2018 though. Liverpool 2nd with £1.242bn at that time which was £3.27bn with inflation, Man Utd 3rd with £1.236bn which was £3.200bn with inflation, with Liverpool on zero Prem titles to Utd’s 13, interesting 😂

[@jonathancampbell9133]

​@@kJ922-h3j wow... what's it like to be so utterly obsessed with Liverpool?

[@kJ922-h3j]

@@jonathancampbell9133 I’m really not I just remembered it after seeing this table, and it took me two seconds to find 😂, but I love how people play the obsessed card when the stats suddenly don’t suit 👍

[@jonathancampbell9133]

@@kJ922-h3j you're trying way too hard... enjoy the rest of Liverpool's season.

[@SteveyC335]

It's about Wages for Goddness Sake 🤦🏽‍♂️ Not transfer spending. Why do you think the likes of Gallagher Eze and Neto who were linked to Spurs did not go there. Levy Won't pay the top wages.

[@blrbrazil1718]

You don't know that. Eze seemed very disappointed he didn't get his move to Spurs.

[@SteveyC335]

@blrbrazil1718 But Eze can hold put for a move to Man U or maybe City and earn 300k per week. Spurs would only pay him 120k pw

[@blrbrazil1718]

@@SteveyC335 He's not worth 300k and MU are grieving over giving that silly money to Rashford.

[@SteveyC335]

@@blrbrazil1718 I totally agree he's not worth that, but Levy wouldn't pay half of that. Our transfer policy is to literally never sign any top players on top wages, and just gamble on low wages kids. We have paid out on transfer fees, but good players are gona demand top wages.

[@blrbrazil1718]

@@SteveyC335 : It would seem that the ideal is to bring in promising players on a wage and bonus structure that rewards them for their achievements. That would be much healthier than submitting to the blackmail of players who require a high transfer fee and wages (you want me, you pay through the nose for it) and then have little incentive other than their own ambition to perform to a high standard on the pitch. Ndombele was a perfect example of that negative risk / reward situation. And we've seen Werner simply not bother to chase balls that could've led to a breakthrough. And then there's Rashford.

[@RAJ-Jamcal]

First of all 1. Spurs fire manager almost every 18 months on average. New managers would require their type of players, and the high turnover of managers will not give you success. 2. The clubs that have won the title I'm the past 5 years, they've had longevity in their manager situation and some have spent big as well. 3. If you look at Chelsea and Man United, they've spent big, but their instability with managers is also affecting their ability to win something. A change of manger often leads to changes in player personnel. 4. Tottenham needs to take a longevity stand. Spurs problem won't be solved with frequent change of manager and player. 5. If every club spends 2b, only one club can win the league. Spurs just need to take time and build a squad.

[@sunilvasistha8481]

Exactly, we have a manager who aligns with the fans' expectations of attacking football and promises trophies. Unfortunately many of the fanbase (including popular "influencers") can't see the bigger picture and are committed to getting Ange sacked. Then the can gets kicked down the road for another 2 years. A bit of optimism, followed by stagnation, protests and no trophies. Then the next guy gets sacked etc.

[@enzoandmilo7717]

Looking at total spend is disingenuous. It makes the spend look a lot bigger than it actually is. You look at net spend

[@Nebularis88]

Again sky telling you it’s raining while pissing on your back

[@craigosborne3260]

There is no way Villa are spending that much in %

[@blrbrazil1718]

So you're questioning the accuracy of the figures. Based on what - your gut feelings?

[@Darren_Mills]

Why would you pay to watch all thay average foreign talent at Tottenham, when each players earns more in 1 week, than most Brits earn in a year. I'd sooner watch WSL and the Under 21s.