Tottenham Hotspur chairman Daniel Levy has voiced his concerns over the distortion of the transfer market by the wealthiest clubs.
In a statement that accompanied Spurs' financial results for 2021/22, a period where revenues rose from £361.9m to £440m and the club's post-tax losses fell from £83.8m to £50.1m, Levy took aim at the spending of sovereign wealth and consortia financed clubs for their transfer approach while acknowledging his own team's failures in recruiting, such as £55m flop Tanguy Ndombele.
Like Liverpool under Fenway Sports Group, Spurs under the ownership of ENIC have taken a more business focused approach, the club having put a great deal of emphasis and funds behind the £1bn new stadium that they hope will provide them with the scope for revenue generation and growth for years to come. The aim behind that was to grow revenues to a point where the club could compete on a sustainable footing through the money that comes through the business, but with the landscape in the Premier League changing and the value of players in the market ever increasing, Levy had a warning over 'unsustainable' spending.
