There is a growing belief that Tottenham have been let down by the club hierarchy’s unwillingness to invest in their squad rather than by their head coach, and the numbers suggest that those concerns are partly true.
The sentiment among the Spurs fan base at the moment seems to be that Levy has failed to back another one of his managerial appointments.
Tottenham’s injury problems have laid bare their lack of strength in depth, which is why a lot of the supporters are directing their ire at the chairman rather than Ange Postecoglou.
This time, voices from inside the club have also pointed the finger at the Tottenham top brass, with Cristian Romero insisting that the club have simply not invested as much as many of their rivals.
TBR Football have taken a close look at Tottenham’s spend on transfer fees and they point out that contrary to popular opinion, it has been going up every year since the club moved into the new stadium.
They point out that the club’s total amortisation (which is the way the club accounts for transfer fees over time) has reached £360m in the last financial year.
However, reveal that Spurs’ squad cost is only the sixth highest in the Premier League, standing at £360m, which is just short of Arsenal’s £374m.
Further, they shed light on the fact that as a percentage of revenue, Spurs have the lowest squad cost in the Premier League, with only 66 per cent of revenue spent on wages and amortisation.
Levy and the Spurs hierarchy will argue that 66 per cent is a healthy amount and that spending has been out of control across the Premier League over the last decade, and it would be hard to argue against that.
In fact, we are now seeing clubs across the division make moves to reduce their wage-to-turnover ratio in light of FFP regulations, with Tottenham in a strong position in that metric due to responsible decisions taken by the ownership.
While Tottenham’s wage bill has been increasing substantially since the move to the new stadium, there is certainly an argument to be made that the club need to offer bigger contracts if they want to sign the creme de la creme of world football.
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