Tottenham fans criticise Daniel Levy’s £3m bonus ahead of season ticket price hike

In a statement that accompanied the accounts, Levy, who is believed to be the highest paid Premier League club executive, confirmed that Spurs were seeking major new investment.

“To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base,” he wrote.

Tottenham’s total revenue for the financial year to June 30, 2023 exceeded half a billion pounds for the first time, thanks partly to increased stadium income, with a rise of more than £100 million taking the total to £549.6 million.

Operating expenses including first-team costs, however, had risen by 21 per cent to £487.9 million, with a loss of £86.8 million put down to the “significant and continued investment in the playing squad”.

Revenue from match receipts, Uefa prize money, television and media, and commercial activities all increased in 2021-22.

‘Consistent European participation key to ability to invest in squad’

The club reported that their net debt was £677.4 million and say that they have invested more than £600 million in the men’s and women’s first-team squads since opening the new stadium five years ago.

“We expect commercial revenues to rise from third-party events, although this will not compensate for the lack of European football this season,” Levy wrote.

“Our ethos is clear – to be far-sighted and run the club sustainably. This involves strict control of our cost base, increased commercial and sponsorship revenues and consistent European participation, all of which are key to our ability to continue to invest in the squad and win top honours.”

Harry Kane’s sale to Bayern Munich came after the accounting period in question but Levy also paid tribute to the club’s record goalscorer, describing him as “one of the greatest players ever to wear our colours” and “an outstanding role model on and off the pitch”.

He also described “progress” under new manager Ange Postecoglou. “We continue to challenge for the highest possible finish with eight games still to play and hope to bring European football to our home stadium again,” said Levy. 

Tottenham are currently fifth in the Premier League.