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Tag: Daniel Levy

  • Tottenham considers new investment options following £86 million loss

    Tottenham considers new investment options following £86 million loss

    Tottenham chairman Daniel Levy has acknowledged ongoing discussions with potential new investors following the revelation of a post-tax loss amounting to £86.8 million ($109.2 million) for the fiscal year ending June 30, 2023.

    Despite achieving a record turnover of £549.6 million ($691 million) during the period, the club experienced a 21% increase in operating expenses, attributed to factors such as uncontrollable cost escalations in utilities, rates, and consumables, alongside substantial investments in new players.

    Tottenham’s wage bill also surged by 20% to £251.1 million ($316 million), positioning it as the fifth-highest in the league behind Manchester City, Liverpool, Chelsea, and Manchester United.

    The reported loss marks a significant rise from the previous year’s figure of £50.1 million ($63 million).

    Speculation regarding a potential sale of the club by owners ENIC has been circulating, with suggestions that they may entertain offers if deemed suitable.

    However, sources close to the club have indicated to ESPN that ongoing discussions are primarily focused on selling a stake rather than pursuing a complete sale.

    “Our ethos is clear — to be far-sighted and run the club sustainably,” Levy wrote in the chairman’s statement accompanying the figures

    “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.

    “Since opening the stadium in April 2019, we have invested over £600m ($755m) in our men’s and women’s first-team squads.

    “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.

    “The Board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club’s shareholders.”

    The signings of James Maddison and Guglielmo Vicario, along with Beth England’s transfer from Chelsea in January 2023 for a reported fee of around £250,000, were notable transactions during the accounting period. However, the bulk of Tottenham’s summer transfer activity occurred after June 30, including Harry Kane’s departure to Bayern Munich for a potential fee of up to €120 million.

    The future growth trajectory of Tottenham hinges significantly on their £1 billion stadium, which played a pivotal role in their financial landscape.

    Notably, Beyonce’s five-night concert series last summer set a record as the “highest-grossing concert ever staged by a female artist at the time,” a milestone later eclipsed by Taylor Swift.

    Moreover, Tottenham has entered into strategic partnerships to diversify revenue streams and enhance fan engagement.

    This includes a 15-year collaboration with Formula One to offer an electric karting experience at the stadium and an extension of their contract with the NFL to host matches at the venue through the 2029-30 season.

    Meanwhile, Daniel Levy, the club’s chairman, saw his personal income rise from £3.3 million to £3.6 million, accompanied by a £3 million ($3.7 million) bonus.

    This increase in earnings may provoke discontent among supporters, particularly in light of recent objections to the club’s decision to raise ticket prices by 6%.

  • Levy discloses clause for Harry Kane’s return

    Levy discloses clause for Harry Kane’s return

    Tottenham chairman Daniel Levy has officially acknowledged that the club holds an option to bring back striker Harry Kane as part of his transfer to Bayern Munich.

    Kane, aged 30, concluded his nearly two-decade-long association with Spurs this past summer by agreeing to a €120 million move to the Bundesliga champions.

    During a fan forum event on Tuesday, which was attended by various individuals, including head coach Ange Postecoglou, Levy was prompted to confirm the existence of this clause after initially avoiding the question from an audience member.

    In response, Levy stated, “Of course,” thereby acknowledging the possibility of Kane’s return to the club.

  • Tottenham chief warns James Maddison not to pull up at training in a ‘red car’

    Tottenham chief warns James Maddison not to pull up at training in a ‘red car’

    Maddison has had a promising beginning to his time in North London since his transfer from Leicester City over the summer.

    However, during a fans’ forum on Tuesday evening, Spurs chairman Levy humorously teased him about his car selection.


    The Tottenham chief said: “James needs to learn that he can’t come to the training ground in a red car. I’ve told him. He’ll learn.”


    England international Maddison is already looking like one of the bargain buys of the summer at £40m ($50m). The 26-year-old has recorded two goals and two assists in his first five Premier League appearances for Ange Postecoglou’s side, helping them rise to second in the table.


    Elsewhere, Levy was also questioned on a number of other topics at the club and labelled the appointments of Antonio Conte and Jose Mourinho as “mistakes” while also revealing that there was a buy-back clause inserted in Harry Kane’s contract when he joined Bayern Munich in the summer.


    Postecoglou will face his biggest test yet as Tottenham boss when his team travels to the Emirates Stadium on Sunday to face Arsenal in the first north London derby of the season.

  • Gaining a bonus at Tottenham under Daniel Levy was almost ‘impossible’ – Danny Rose

    Gaining a bonus at Tottenham under Daniel Levy was almost ‘impossible’ – Danny Rose

    Ben Foster recently revealed a startling assertion made by Danny Rose concerning Tottenham’s bonus system, which he described as “impossible” due to the stringent criteria set by club chairman Daniel Levy.

    According to Foster, his former England and Watford teammate Danny Rose once confided that earning bonus payments at Tottenham was an incredibly challenging task.

    Foster explained that, in order to trigger a bonus, Spurs players had to secure a convincing victory against a team in the ‘top six,’ with victories by a mere one-goal margin falling short of Chairman Levy’s standards.

    Foster shared these insights during an episode of “Fozcast: The Ben Foster Podcast,” shedding light on the inner workings of the bonus structure during his time as a goalkeeper for both Wrexham and Tottenham.

    “To actually get paid a bonus, you would only get it for beating one of the big boys, one of the top six teams. So you’re talking a Manchester City, Manchester United, Chelsea, and Liverpool, and apparently, I swear on my life, this is what he said to me, you’ve got to beat them by two clear goals as well.

    “[1-0] it’s not enough, mate, you ain’t getting that bonus. Winning games, they expect you to win games as Tottenham manager, apparently.”


    He added: “To get the bonus, you have to obliterate your opponent. You have to beat Manchester City 2-0 or 3-0 to get that bonus payment, which is bonkers. I was saying, ‘Rosey, there’s no chance; that’s impossible’. He was just saying, ‘I know, Fozzy, I know’.

    He said there was one time they were winning 2-0 and in the last minute they conceded a goal and everyone was looking at each other thinking, ‘OK, come on, lads, we’ve missed out on the bonus’, and they’d still won the big game.”

    During his tenure, Rose, who was a part of the England national team from 2016 to 2019, spent a remarkable 14 years with Tottenham before departing for Watford in 2021.

    In contrast, Foster recently declared his retirement, marking the end of his professional career, a decision made just five games into Wrexham’s 2023–24 campaign.

    Ange Postecoglou’s team will be back in action this Saturday as they face Sheffield United in the Premier League.

  • Harry Kane: Bayern Munich executives set to meet Daniel Levy next week after cancelling flights today

    Harry Kane: Bayern Munich executives set to meet Daniel Levy next week after cancelling flights today

    Top officials from Bayern Munich are planning to meet with Tottenham chairman Daniel Levy again next week to discuss a potential deal for Harry Kane.

    Their initial visit to London was reportedly cancelled due to leaked information.

    Despite this setback, Bayern Munich remains optimistic about reaching an agreement for the England captain, who recently turned 30.

    Harry Kane is interested in discussing a move to Bayern Munich and has not shown any indication of signing a new contract with Tottenham, where he has just one year left on his current deal.

    Levy has rejected all previous offers for Kane, holding out for a fee exceeding £100 million for their all-time top scorer.

    If no agreement is reached with Bayern Munich, Tottenham risks losing Kane for free, as he would be eligible to engage in pre-contract talks with overseas clubs starting from January.

    To avoid this situation, Tottenham’s billionaire owner Joe Lewis has urged Levy to sell Kane if he does not commit to a new contract.

    In an attempt to keep the striker at the club, Tottenham has offered him a lucrative deal worth £400,000 per week.

    Bayern Munich has already seen two offers of £60 million and £70 million turned down by Tottenham.

    Furthermore, Paris Saint-Germain has entered the race for Kane’s signature, adding a new dimension of competition for his potential destination.

  • Daniel Levy: Only a few Premier League clubs have the power to “distort the market

    Daniel Levy: Only a few Premier League clubs have the power to “distort the market

    Daniel Levy, chairman of Tottenham, has acknowledged that supporters want to see more money spent, but he has cautioned that some Premier League clubs now have the “ability to distort the market.”

    Levy claimed that the level of spending in the top division is “unsustainable” for the majority of clubs in a statement accompanying Spurs’ most recent financial results.

    He also acknowledged that some recent hires did not pan out as expected.

    “The landscape of the Premier League has changed significantly,” said Levy.

    “It is understandable that some fans call for more spending, much of which is unsustainable for many clubs.

    “We are competing in a league in which we have seen increased sovereign wealth ownership and consortia finance; and in a league where the spending power is now vested in the hands of a few who dominate and have the ability to distort the market.”

    Manchester City were taken over by the Abu Dhabi United Group in 2008 while the Saudi Arabia Public Investment Fund (PIF) backed a £305m takeover of Newcastle in October 2021.

    Meanwhile, Chelsea was sold for £4.25 billion to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital in May.

    Levy said he welcomes changes to football governance, financial sustainability, and Financial Fair Play (FFP) regulations.

    Last month, Tottenham fans protested against club owners ENIC and Levy at the club’s training ground over a lack of investment.

    At that point, Spurs were yet to make a signing in the winter transfer window, but they later completed loan deals for Arnaut Danjuma from Villarreal and Pedro Porro from Sporting Lisbon.

    According to the club’s latest financial report, Tottenham have invested more than £500 million in the men’s first team squad since April 2019—less than double what Chelsea spent (£288 million) this January alone.

    “We walk a fine line between long-term investment and short-termism,” said Levy.

    “This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons.

    “We have felt, and continue to feel, the financial impact of supporting player purchases which have not worked out as planned.”

    Tottenham, who are fifth in the Premier League, have only won one major trophy, the 2007-08 League Cup, since Levy became chairman of the club in 2001.

    He said: “We share our supporters’ frustrations at so many ‘near misses’ resulting in a lack of trophies.

    “Over the last two decades we have been in 14 semi-finals, made it to six finals and only won one of them. It must be our hope that we are soon celebrating a trophy win.”

    Tottenham record increase in revenue

    Tottenham were recently listed ninth in Deloitte’s Money League study from the 2021-22 season, which ranks the world’s richest clubs by revenue.

    In their new financial report, Spurs announced a 22.7% increase in revenue to £444m for the year ending June 2022, up from £361.9m in the previous 12 months.

    The club recorded a rise in match receipts from £1.9m to £106.1m in their first full season in the new Tottenham Hotspur Stadium.

    It was also the first complete season that full-capacity crowds were allowed back into football grounds after two seasons of disruption caused by the Covid-19 pandemic, which Tottenham say resulted in the loss of approximately £200m in revenue.

    Commercial revenue grew by 20.7% to £31.5m but they received less Uefa prize money following an early exit from the Europa Conference League – having reached the Europa League last 16 in 2020-21.

    Tottenham’s finances were also boosted by majority shareholder ENIC Sports Inc. agreeing in May to put an extra £150 million into the club.