Tottenham hailed as ‘amazing’ after they blow Arsenal away – Kieran Maguire
Tottenham had a higher wage bill than Arsenal for the first time in nearly 30 years while keeping an ‘amazing’ pay structure in place.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that senior figures at Tottenham ‘deserve credit’ for their impressive financial figures.
Spurs published their full 2022-23 accounts on Wednesday (3 April) revealing club-record revenue of £550million but a loss after tax of £87million.
The accounts also revealed that Tottenham’s wage bill grew 20 percent up to £251million – ranking them fifth in the Premier League and ahead of Arsenal’s wage bill of £235million.
Maguire revealed that it is the first time in nearly 30 years that Tottenham have had a higher wage bill than their North London rivals.
Tottenham now £15m ahead of Arsenal for first time in 30 years
“You’ve got to give the club a lot of credit,” Maguire told Football Insider’s Sean Fisher.
“The wage bill is at a record level, although that will drop this season because the club’s not in Europe and is no longer paying Harry Kane’s wages.
“But for the first time since the 1995-96 season, Spurs have spent more on wages than Arsenal.
“On top of that, the proportion of revenue they spend on wages is still ridiculously low.
“They always spend less than 50 percent of their revenue on wages which is amazing in terms of their relative success as a top-six club.“
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