A God of Business?
Tottenham chairman Daniel Levy has been called a “businessman”. He”s known for doing whatever it takes to squeeze every last penny out of transfer fees. When it comes to selling, he”ll pay as much as possible and when he needs to strengthen, he”ll look for cheap prospects. Former Manchester United manager Sir Alex Ferguson once declared that he would “never trade for Levi again”.
But Spurs have been in the red for four years in a row. On March 3, the BBC reported that Tottenham has reported a loss of £86.8 million for the 2022-2023 financial year. Although total revenue increased, operating profit was negative.
‘Mr. Levy has increased his salary from £3.2 million to £3.5 million,’ the BBC reported. He also pocketed a £3 million bonus.
The BBC said: ‘Total revenue was 24% higher than in 2022. It reached a record high of £549.6 million. Matchday revenues reached £117.6 million. However, it was the fourth consecutive year of losses, following a £50.1 million deficit in 2022,” the company said.
Matchday revenue is a whopping 200 billion won. Tottenham played a total of 50 games last season (38 Premier League, 8 Champions League, 3 FA Cup, 1 EFL Cup). That’s $4 billion per game. Still, the club was in the red.
Sensing a crisis, Levy said he was looking for new investors.
“We need to capitalize on our long-term potential. We need to significantly increase our assets in order to continue investing in our team and undertake future capital projects. We are in discussions with potential investors. Any investment proposal will need the support of our shareholders.”
Levy added: “We are fully compliant with the Premier League’s financial regulations. These provisions need to be strengthened to remain competitive and sustainable. We have operated in a financially sustainable manner. We are confident that we can 스포츠토토 optimize the true value of our key assets – our multi-purpose stadiums and unrivaled training grounds.”
“While we will not be able to make up for the disappointment of not qualifying for Europe this season, we expect to grow our commercial revenue through a range of events,” Levy added.
Tottenham finished fourth in the Premier League in the 2021-2022 season and qualified for the Champions League. They reached the round of 16 and earned £56.2 million in UEFA prize money. Last season, they were knocked out in the group stage of the Europa League, but still earned £10.2 million. This year, they missed out on European competition.