Daniel Levy will be breathing sigh of relief as Tottenham PSR update emerges amid £232m news
Daniel Levy will be breathing a sigh of relief after a Tottenham profit and sustainability (PSR) update has emerged.
The club released its accounts on Wednesday (3 April), showing that they have recorded losses of up to £232 million over the past three years.
While football finance expert Kieran Maguire tweeted that the figure is “high”, he revealed that the annual depreciation charge of £72million for things like the stadium are exempt from PSR, meaning there are “no worries” about a Premier League charge coming their way for breaching the spending limits.
There could be some Spurs fans who are uneasy after learning about the club’s losses, but at least it appears as though there aren’t going to be any financial fair play (FFP) repercussions on the horizon.
Issues off the field have overshadowed some clubs’ exploits on the pitch this season, with Everton and Nottingham Forest both being handed points deductions for committing spending breaches.
Chelsea have also been walking a tightrope following their dealings in the recent transfer windows, while Manchester City still have 115 charges hanging over their head.
That isn’s a club Levy will want Tottenham to join as it could have a major impact on the progress they are looking to make under Ange Postecoglou.
While there isn’t going to be any immediate danger of Spurs being in breach of the PSR rules, the chairman will want to bring down those losses.
The sale of Harry Kane to Bayern Munich last summer will add a healthy boost to those figures for the next three-year period, given that the £100million they received will go down as pure profit because of his homegrown status.
Tottenham are well-oiled machine off the pitch
The club are also continue to rake in a huge amount of cash for the work they are doing off the field after generating revenue of £549.2million last season, making them the eighth-richest club in the world [Evening Standard].
They earn more than £105million per year in match-day income and have also benefited from hosting music concerts, NFL and rugby matches at the Tottenham Hotspur Stadium.
Although the supporters will no doubt be pleased to see the club making strides forward in that avenue, it does make the situation surrounding the senior season tickets a little bit more sickening.
Spurs published their updated ticketing charter on 6 March, where they confirmed no new OAP season tickets will be available from the 2025/26 season.
That has caused plenty of outrage amongst the club’s fans, with several of them deciding to turn their back to the pitch during the latest home game against Luton Town on 30 March.
While Spurs appear to be a well-oiled machine behind the scenes at this moment in time, the board must do more to improve the relationship with the supporters.
In other Tottenham news, Stan Collymore is spot on about an “outrageous” Spurs financial development.
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