Tottenham Hotspur chairman Daniel Levy has criticised the Premier League's summer spending spree, calling it 'totally unsustainable'. His comments come as Spurs, yet to make a signing this window, sold Kyle Walker to Manchester City, who have spent over £200 million this summer.
Levy, speaking during Tottenham's pre-season tour of the United States, said: 'My view is that it's totally unsustainable. I'm not sure if that's the view of the other Premier League clubs, but certainly the prices that are being paid for other Premier League players, I can't see it being sustainable in the long term.'
The Spurs chairman emphasised his role as a 'custodian' of the club, stating: 'I don't think that long term for any club it's sustainable to spend more than you earn. You can have periods where you do but over the long term you can't.' He pointed to Tottenham's investments in a new training facility and a 61,000-seat stadium as prudent long-term strategies.
Levy also highlighted the importance of the academy, producing homegrown players like Harry Kane, rather than spending huge transfer fees. 'We don't have to go and spend £20, £30m, £40m on a player,' he said. The new stadium, costing around £750 million and due next year, is privately financed without state aid.
