Finance expert reacts to news that Tottenham are third most profitable sports team in the world
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Tottenham...
Dan Plumey has reiterated that fans’ questions over a lack of spending will only continue as long as Spurs’ profits continue to rise.
A Forbes report (2 June) has compiled a list of the world’s most profitable sports teams with Tottenham Hotspur ranking third. The data runs through to the end of the 2021 season and reveals that Daniel Levy’s clubs generated a profit of just over £325million.
However, the finance expert suggested that if Spurs continue to generate these high profits, fans will expect performances and success on the pitch to match this.
“It doesn’t surprise me perhaps as much as it would some. You look at Spurs’ financial records, stretching that back to the beginning of the Premier League era, they’ve always been a club that has had very good financial performance and always looked to generate a profit,” he exclusively told Tottenham News
“We know the new stadium, the NFL deal, the Formula One deal and the other events that they’re hosting there, that was going to push them into a different space as well, you could see the play, so I don’t think that’s necessarily as much of a surprise.”
“From a business point of view, they’ve run a very tight ship over the years. They’re now reaping the benefits of that from a profit point of view, even more with the new stadium. All the while they’ve had this label of them not investing in the playing side of things and not having success on the pitch.”
Plumey is spot on. For a club that generates the third-highest profit in world sport, the performances on the pitch do not match this.
Spurs finished 8th last season in the league and if this continues while profits rise, many fans will certainly become more and more frustrated.
It is time for the ambition to match the finances.
In other Tottenham news, selling Harry Kane would be another huge financial boost for the club.