Postecoglou says Tottenham losses won’t affect transfer spending

Julian Miller
By: Julian Miller
04/04/2024
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Tottenham reported losses over $166.7 million in 2022-23

Postecoglou believes Spurs are in a better position to spend than most EPL clubs, despite the heavy losses last year. 

News Insights

  • Spurs lost $166.7 million in the 2022-23 financial year.
  • Tottenham’s overall turnover surpassed $960 million.
  • Spurs will look to raise funds this year.
  • Postecoglou says losses will not affect transfer spending.

Tottenham Hotspur released their most recent financial results this week. The record revealed a £86.8 million ($166.7 million AUD) loss over the 2022-2023 Premier League financial reporting period, which runs from July 2022 through June 2023.  
Compared to other Premier League clubs, many of which also released their most recent financial reports, Tottenham’s losses are massive. Despite this, Ange Postecoglou says the losses won’t affect Spur’s ability to spend in the transfer market this winter.  

Tottenham report reveals massive losses

Premier League clubs had until March 31 to reveal their 2022-23 financial reports. Some clubs, like Brighton who earned a Premier League record profit of £122.8 million ($235.8 million AUD), reported big profits. Others, like Tottenham, reported massive losses.  
 
The 2022-23 financial report revealed that Spurs lost £86.8 million ($166.7 million AUD) during the Premier League’s last financial reporting period. Only Manchester United and Aston Villa lost more money than Spurs last year. Only three clubs posted a profit.  
 
Overall, the Premier League lost over £1 billion ($1.92 billion AUD).  
 
In Spurs' case, losses can be blamed on “cost rises outside of our control such as utilities, rates and consumables” and “significant” investment into new players and the coaching staff.  
 
Tottenham spent 20% more on player wages last season than they did in the year before. Their total wage bill of  £251.1 million ($482.21 million AUD) is now fifth highest in the Premier League.  

Postecoglou says club will still spend this winter

Despite these massive losses, Ange Postecoglou believes the club will still be able to spend big this offseason.  
 
When asked about the club’s ability to spend on players this summer, Postecoglou said he has had discussions with the Spurs’ higher-ups about new players. He revealed, however, that those discussions were not about the balance sheet and instead about the quality of the players.  
 
My discussions around those kinds of issues are not the minutiae of a balance sheet,” Postecoglou said. “It is about us planning to build a side that can potentially be successful. So, that's what we're doing and nothing that is going to come out in the balance sheet is going to disrupt those plans.” 

Tottenham open to outside investment

One reason Postecoglou is confident about his ability to spend this summer could be that the club plans on bringing new investors this winter.  
 
Tottenham chairman Daniel Levy revealed that “The Board and its advisors, Rothschild & Co, are in discussions with prospective investors.” 
 
However, this doesn’t mean Spurs are completely for sale. Most reports claim Tottenham and Levy are only looking for minority investors.  

Tottenham qualifying for the Champions League could also alleviate their financial burden right now. They are in fifth place now. The betting sites put their odds of finishing in the top four level with Aston Villa, who are currently in fourth, just two points ahead of them. 

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