‘Tottenham face new transfer blow after source’s reveal – my understanding is…’
Tottenham are facing a transfer blow following a new reveal from a club source.
Spurs chairman Daniel Levy and majority owner ENIC have faced criticism from fans for their lack of spending in recent times.
Dominic Solanke was the most expensive of eight signings across the 2024-25 campaign after he joined in a £65million deal from Bournemouth.
Tottenham reduced their wage bill substantially from £251million in 2022-23 to £222million in 2023-24, with that figure making up 42 per cent of their overall revenue.
Finance expert Stefan Borson exclusively told Football Insider an update on Spurs’ spending power following conversations he’s had.
The north London giants are set to compete in the Champions League next season after beating Manchester United in the Europa League final last month.
Tottenham could land a £100million windfall after qualifying for the competition.
Tottenham face cash issue after new reveal
Borson revealed Tottenham are likely to be limited in what they can spend this summer.
He told Football Insider: “My understanding from conversations that I’ve had is that even if they wanted to, Spurs are limited in that they’ve got the Champions League money, it’s going to be really important.
“But they are restricted by both banking covenants in terms of what they can spend and what they can lose profit-wise, and also cash.
“The Joe Lewis Trust isn’t at the moment prepared to put more cash into the business, and Daniel Levy doesn’t have the cash to put into the business.
“Daniel Levy is a very wealthy individual by virtue of his stake in Tottenham, but it’s paper assets and wealth.
“He’s not crystallised it, so he’s obviously taking very nice money as a salary over the years and he’s clearly very wealthy, but most of his wealth is wrapped up in the shares of Tottenham, which are not a liquid asset.
“I guess he could go to a bank and borrow, using it as collateral. If he’s not prepared to do that, then he’s not in a position to put money into the club either.
“They are limited by both of those things.”
Tottenham race to sign Alejandro Garnacho
In terms of potential incomings, Football Insider revealed on 19 June Man United are hoping a bidding war emerges for Alejandro Garnacho this summer.
The 20-year-old is a target for European giants Napoli and Atletico Madrid as well as Premier League trio Chelsea, Aston Villa and Tottenham.
Sources say bidding is soon expected to start at around £50million, with Garnacho likely to leave Old Trafford before the transfer deadline on 1 September.
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