Mark - TheBlue said:
Season 05/06 Spent : 34 Million Sold: 16 Million
Season 06/07 Spent : 47 Million Sold: 25 Million
Season 07/08 Spent : 48 Million Sold: 15 Million
Season 08/09 Spent : 87 Million Sold: 67 Million
Some shortfalls there boys how are they covered? Hm. Daniel Levy is backed by ENIC International Ltd who is ran by this man Joe Lewis (born February 5, 1937 in East London) is an English businessman who currently lives in Lyford Cay, Bahamas.
Lewis' total wealth is estimated at $3.2 billion. Keep doing things the correct way boys all the money will wear out your soul! :(.
The "shortfalls", as you describe them, are covered by operating profits - not by Joe Lewis, as you imply.
Spurs' financial model over the past ten years has prioritised keeping wages tightly under control. The theory being that money spent on wages is money that the club will never see again. Money spent on buying players, by contrast, can realise a big profit and thus enable further investment in the squad. With wages under control, Spurs generates sufficient revenues to make an annual operating profit of £20-30 million. It is this profit which has enabled the club, year on year, to invest in better players and a deeper squad.
Now that Spurs' squad is close to matching the top clubs in terms of squad depth and quality, the priority has changed. It is now more a case of tweaking, rather than wholesale changes every transfer window. Consequently, Spurs have spent comparatively little on new players over the past two years. However, on the flip side, the wage bill has risen. That's because the priority now is to keep the players that we have. And that means regularly offering improved contracts.
That said, wages will continue to be a tricky issue for Spurs until we become a regular Champions League qualifier and / or until we have built the new stadium.