Daniel Levy statement hints at Newcastle transfer…

Daniel Levy statement hints at Newcastle transfer conundrum amid Eddie Howe's FFP warning

Daniel Levy has warned Newcastle United's top-four rivals Tottenham must walk a 'fine line' when it comes to transfer spending. The Tottenham chairman admitted the club had made high-profile mistakes in the market, having splashed more than £500 million since the opening of the new stadium in April 2019.

The Magpies currently sit one place and one point above Tottenham in the Premier League table, with the latter closing the gap with an impressive victory over Manchester City in their latest outing. Eddie Howe's side have been bolstered by the January captures of Harrison Ashby and Anthony Gordon, although the head coach has once again warned of the limitations placed upon the club by Financial Fair Play.

Levy released a lengthy statement to accompany the publication of Tottenham's annual financial results on Friday, which reflected the return of matchday income following the Covid-19 pandemic. The results come amidst a backdrop of fan unrest, with a section of the club's supporters continuing to call for ENIC and Levy to leave.

Levy admitted Tottenham are still feeling the 'financial impact' of signings in recent seasons which 'have not worked out as planned'. The chairman described the 'fine line' the club must walk with investment which delivers in both the short and long-term, a message which has often been stressed on Tyneside by both Howe and sporting director Dan Ashworth.

Reflecting on Tottenham's financial results, Levy said: "Since opening the stadium in April, 2019, we have invested over £500million in our Men’s First Team squad – putting us in the top five of spending in the Premier League – with a further £47million commitment in the January window, as we continue to support the team in the world’s most competitive league.

"Our spend levels show we have invested in the team – however, we walk a fine line between long-term investment and short-termism. This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons.

"We have felt, and continue to feel, the financial impact of supporting player purchases which have not worked out as planned. We have taken steps to improve this area of operations and we believe the recent transfer windows reflect this.

"Our aim has always been to combine the financial stability of the club with remaining competitive on the pitch. We have to do what is right for us and sustainable in the long-term."

"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."

Daniel Levy statement hints at Newcastle transfer conundrum amid Eddie Howe's FFP warning

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