Daniel Levy appears to have hinted at Manchester City in a statement responding to Tottenham's annual financial results. On Monday, Pep Guardiola's side released a statement to confirm that they have been charged by the Premier League over financial breaches across nine seasons (2009/10 to 2017/18).
City were subject to an investigation which took four years to complete. For now, it remains to be seen whether any of these breaches for the period stated will be upheld by the commission or if any punishment will follow.
The Premier League champions have insisted their innocence. In a statement which saw Levy admit that previous transfer mistakes have put a burden on the club, the Tottenham chairman addressed the growing financial competition that Spurs face.
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Levy claimed that "spending power" is in the hands of a select few Premier League clubs who have the ability to 'dominate' and 'distort' the transfer market. For example, Chelsea's signing of Enzo Fernandez (£106.7million) cost almost as much as the total spend of La Liga, Bundesliga and Serie A combined (£115.5million) in January.
But, the Blues were not the only culprits of throwing their weight around last month. Southampton, who are in a relegation battle, spent around the same as all 40 top-flight Spanish and Italian clubs put together.
Levy said: "The landscape of the Premier League has changed significantly in the last decade. It is understandable that some fans call for more spending, much of which is unsustainable for many clubs.
"We are competing in a league in which we have seen increased sovereign wealth ownership and consortia finance; and in a league where the spending power is now vested in the hands of a few who dominate and have the ability to distort the market.
"We welcome the changes to the governance of the game which will compel greater financial sustainability and financial fair play (FFP). Major changes have been introduced in Europe around FFP regulations, including the newly-launched UEFA financial sustainability rules, the full impact of which will be felt from season 2025/26.
"They are based on three pillars: solvency, stability and cost control and clubs will have three seasons to adjust to them. Many expect that these new rules will be a game changer for the sport. Even tighter regulations may follow."
Tottenham contributed towards the Premier League clubs' eye-watering total spend of £815million in January, welcoming Pedro Porro and Arnaut Danjuma to Hotspur Way. However, the north Londoners didn't spend nearly as much as Chelsea or Arsenal.
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