Tottenham Hotspur chairman Daniel Levy has defended the club's spending policy ahead of a planned protest by supporters at Sunday's Premier League match against Southampton. The fan group Change for Tottenham is organising the demonstration, reflecting growing discontent with the club's ownership and financial direction.
Levy's comments came after Spurs published their financial results for the year to 30 June 2024, showing losses reduced to £26.2m from £86.8m the previous year, despite a 4% drop in revenue to £528.2m. Match-day income fell to £105.8m from £117.6m, attributed to the club's absence from European competition last season.
In a statement, Levy acknowledged the team's current 14th place in the Premier League as a 'highly challenging season on the pitch'. However, he highlighted the club's progress to the Europa League quarter-finals, stating that winning the competition would bring silverware and Champions League qualification. He urged fans to support the team.
Levy pointed out that Spurs have invested over £700m net on player acquisitions since opening their new stadium in April 2019. He stressed the need for 'smart purchases within our financial means', adding: 'We cannot spend what we do not have and we will not compromise the financial stability of this club.' The club's wage bill accounts for 42% of revenue, the lowest among the top 10 richest clubs according to Deloitte.
The planned protest follows a similar demonstration before the home game against Manchester United in February, when around 2,000 fans called for Levy to leave. Spurs remain ninth in Deloitte's global rich list, but supporters are frustrated with the lack of trophy success and perceived underinvestment.
