Tottenham Hotspur face a pivotal summer after a shameful 2024/25 season that has frustrated fans. Their hopes of salvaging European qualification are slim.
Spurs sit in 16th place on the Premier League table and need massive reinforcement after suffering 19 Premier League defeats (equalling a club record).
Yet, according to the ever-reliable Matt Law of The Telegraph, Tottenham cannot dream of a squad overhaul due to their financial situation.
Despite technically being able to spend over £200 million without breaching Profit and Sustainability Rules (PSR), Spurs will not be free to splash the cash.
Without investment from the owners, ENIC, the club will have to sell before they can buy. This situation could undermine plans to rebuild under Ange Postecoglou or a new head coach.
Spurs will not be able to conduct summer transfer business without player sales.
Tottenham could end up sacrificing Cristian Romero, a target for Atletico Madrid, Richarlison, and Yves Bissouma to raise funds.
The situation is complicated even more by Tottenham’s strict wage structure, one of the tightest in European football, and a ballooning net transfer debt of £279.3 million.
Spurs were among the Premier League’s biggest spenders last summer, but the reality behind the scenes paints a different picture.
Since ENIC’s takeover in 2001, owner funding has totalled £122.1 million, the equivalent of a mere £5.3 million per season.
Even the much-publicised £150 million cash injection announced in 2022 fell short, with only £97.5 million materialising.
Tottenham face a long, difficult summer and tough decisions that could define the club’s future.
We are tired of Daniel Levy – View
This tight purse is exactly why Tottenham fans have been clamouring for chairman Daniel Levy to step aside. So much penny-pinching, so little ambition.
For years, Spurs supporters have watched rival clubs invest big while Tottenham hesitated.
Spurs are always looking for a bargain instead of building a squad capable of competing at the highest level.
With the team languishing near the relegation zone and the squad needing an overhaul, Levy’s stinginess is home to roost.
Without change at the top (not just in the dugout but in the boardroom), Spurs risk sinking even further.