Tottenham chairman Daniel Levy admits the club ‘have felt and continue to feel’ the financial burden of supporting their transfer flops… with £65m Tanguy Ndombele and £27m Giovani Lo Celso among their expensive failures
- Daniel Levy has discussed Spurs’ financial results for year end June 30, 2022
- He admitted having to support player transfers that haven’t worked out is costly
- £65m Tanguy Ndombele and £27m Giovani Lo Celso both currently out on loan
Tottenham chairman Daniel Levy has admitted that the club ‘have felt and continue to feel’ the financial burden of supporting their transfer flops.
Levy, who was discussing Spurs’ financial results for the year ending June 30, 2022, made no attempt in hiding the obvious impact of having expensive signings who have failed to hit the desired heights still on their books.
Both Tanguy Ndombele, who joined Tottenham for £65m in 2019, and Giovani Lo Celso, who signed permanently in 2020 for £27.2m, are currently out on loan.
The midfielders have failed to live up to their respective billing, with Ndombele enduring an unsuccessful loan spell with Napoli, while Lo Celso has spent the majority of his time at Villarreal injured.
Tottenham’s financial results showed an overall £50.1m loss in the first full season with fans returning following the pandemic, which was down from £83.8m the previous year.
Tottenham chairman Daniel Levy has admitted that the club ‘have felt and continue’ to feel the financial burden of supporting their transfer flops
Both Tanguy Ndombele, who joined Tottenham for £65m in 2019, and Giovani Lo Celso, who joined permanently in 2020 for £27.2m, are currently out on loan
| June, 2022 | June, 2021 | |
|---|---|---|
| £m | £m | |
| Match Receipts | 106.1 | 1.9 |
| UEFA Prize Money | 10.2 | 23.6 |
| TV and Media | 144.2 | 184.4 |
| Commercial | 183.5 | 152 |
| Total Revenue | 444 | 361.9 |
| Profit from Operations | 112.3 | 97.1 |
| Loss for the period | 50.1 | 83.8 |
The impact of the pandemic can be seen in the club’s finances, with Tottenham earning £106.1m in match receipts between 2021-22 compared to £1.9m the year before.
Levy, in a statement on behalf of the club, said: ‘Since opening the stadium in April, 2019, we have invested over £500million in our…