Tottenham Hotspur chairman Daniel Levy believes that the club are well-positioned to improve their performance level on the pitch and says they will “relentlessly” pursue trophies in the coming seasons.
Spurs released their financial reports for the year ended June 2021 on Tuesday and much of it made for grim reading given the fact football was played out against the backdrop of the pandemic for most of that period.
Matchday revenues for the club were down over £90m from the previous season due to the majority of matches being played behind closed doors, while Spurs’ overall debts grew by £101m to £706m, with extended payment terms now arranged. Spurs also face ongoing “cost pressures” from both Covid and Brexit, Levy added, but noted that the club was “financially stable”.
Nevertheless, Levy is optimistic that the “building blocks” to generate future revenue for the club are in place and spoke of a “virtuous circle” whereby investing in the team would lead to on- and off-pitch success.
“Going forward…our strategy is clear – to drive and generate revenues to invest in all of our football activities,” read his statement alongside the club’s financial results.
“Football success, in turn, supports the growth of our Club, our fanbase and consequently wider, commercial opportunities and partnerships, which then deliver further revenue to reinvest in football – the virtuous, sustainable circle on which our Club model is based.
“Having delivered our training centre, The Lodge and stadium we shall not stand still, we shall continue to innovate and ensure the most exceptional player, fan and visitor experiences. Our building blocks for the future success of the Club are now firmly in place.”
With specific regards to team activities, Levy spoke positively about the club’s hierarchy this season, with Fabio Paratici in place as managing director and Antonio Conte newly installed as head coach, after the quickfire hiring and firing of summer appointment Nuno Espirito Santo.
Levy insisted that the club must take an holistic view to achieving success rather than merely looking to the transfer market, with an outlay of approaching half a billion pounds in the past two-and-a-half years as yet not resulting in silverware.
“The appointments of Fabio and Antonio are a clear demonstration of our intent and ambition,” he said.
“Since opening the stadium in April, 2019, we have spent almost £400m on players. Player spending is no guarantee of success, and our focus must be on improved recruitment, coaching, fitness and a competitive mindset.
“We shall also look to continue the well-established path for youngsters from our Academy to our First Team. I know that Antonio’s approach is if a player is good enough, he will play, regardless of status or age.
“We have come a long way and we have so much further to go. We remain relentlessly ambitious and are determined to deliver honours and make our supporters proud.”