Kieran Maguire: Tottenham are envy of the Premier League after £205m reveal today
Many clubs would “give their right arm” to have a wages-to-turnover ratio as low as Tottenham.
That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider about Spurs’ most recently-published annual report.
The North London club posted a pre-tax loss of £80.2million, with revenues falling from £403.2m to £361.9m in the 12 months ending June 2021.
Tottenham’s full results were filed with Companies House today (26 November) and are being processed before publication.
The preliminary figures show that Spurs spent £205.5m on staff and player wages in 2020-21.
Maguire highlighted Tottenham’s wage spend in relation to their total revenue and claimed it is the envy of the Premier League.
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“The results are really as good as can be expected,” he told Football Insider correspondent Adam Williams.
“If you adjust for Covid, Spurs probably would have made a profit. They also still keep a pretty tight ship in terms of wages.
“That is to their credit because it meant they were not more vulnerable to economic shocks because of Covid.
“Their strength and weakness is that, as a business, they are extremely terrifically well run.
“Spurs’ average wage is £95,000-a-week, then you’ve got Man United and Man City both at £160,000-plus.
“That means they are competing in a slightly different pool to the bigger clubs. Their cost base is low.
“Their wages were only 57 per cent of revenue, which other teams would give their right arm to have in a non-Covid year.”
Tottenham’s wage spend will not account for the £14m ex-manager Nuno Espirito Santo reportedly earned in severance pay at the start of November.
Under new boss Antonio Conte’s stewardship, Spurs are 7th in the league and on the brink of elimination from the Europa Conference League.