Finance expert warns Tottenham fans to expect a prudent summer | OneFootball

A respected finance expert says Tottenham Hotspur fans must be realistic with their expectations during the summer transfer window.

Chartered accountant Chris Weatherspoon has told The Athletic that the club’s recent excesses in the transfer market have impacted profitability.

Tottenham’s future does not look particularly bright, as their income is likely to take another hit due to their on-pitch struggles.

Weatherspoon highlighted the club’s gross debt of £872.1 million at the end of last season, which places them second domestically behind Everton in the debt standings.

Only Barcelona (£1.534 billion) and Real Madrid (£1.157bn) currently carry more financial debt, and they both have Champions League football to look forward to.

While Spurs’ debt levels are huge and the cost of servicing them is not inconsequential, their recent transfer dealings are also problematic.

The club spent £272.2m on new players last season, and you would be hard pressed to argue that they have received a good return on their investment.

Tottenham have spent £830.3m on new signings across the past five seasons, more than double their outlay over the previous five years.

Concerningly for their fans, their net transfer debt – amounts due from clubs less amounts owed to other clubs — was £279.3m.

This figure is the highest in English football and limits Tottenham’s ability to spend extravagantly in future transfer windows.

Winning the Europa League would be a significant boost for Tottenham, as it would ensure their participation in the 2025/26 Champions League.

Without that additional income, Tottenham’s finances will be much tighter. This would limit the transfer business they could conduct this summer.

Their squad needs revamping, having lost 18 league games this season. However, without funds to play with, achieving this will be tricky.

Fan dissatisfaction with manager Ange Postecoglou further complicates matters. Many supporters want him fired, but this could create further issues.

A new manager will want to shape the squad to his own taste, which will be difficult without the necessary funds to make those changes.

A strong argument can be made for the club to give Postecoglou a chance to tweak the existing squad rather than undertake another overhaul.

Whatever happens on the managerial front, Tottenham fans undoubtedly need to brace themselves for a prudent summer transfer window.