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Daniel Levy: Tottenham transfer spending must be 'smart' and 'sustainable'

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Levy says Spurs spending must be 'smart and sustainable' - BBC.com
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Tottenham chairman Daniel Levy says the club's spending in the transfer market must be "sustainable" and "smart" after their latest financial results showed a fall in revenue.

For the year ending June 2024, Spurs' total revenue decreased by 4% from £549.6m in the previous 12 months to £528.2m.

Overall, Spurs saw a reduction in their losses after tax for 2024 (£26.2m) in comparison to 2023 (£86.8m)

Tottenham fans have protested against Levy and the club's owners Enic over how the club is run, including a perceived lack of investment in the playing squad.

Levy acknowledged in notes accompanying the results that he "often read calls for us to spend more" as Spurs are "ranked as the ninth richest club in the world".

But he said Tottenham's "spending must be sustainable in the long term".

"We cannot spend what we do not have, and we will not compromise the financial stability of this club," Levy said.

"Recruitment remains a key focus, and we must ensure that we make smart purchases within our financial means. Our capacity to generate recurring revenues determines our spending power."

The club received more in television revenue - £165.9m last year compared to £148.1m in 2023 - but recouped just £1.3m in prize money from Uefa in 2024.

That was a sizable decrease in contrast to £56.2m in the previous year following participation in the Champions League.

Tottenham's operating expenses, before football trading, decreased by 7% to £453.6m (2023: £487.9m) which was attributed to "fewer football matches and third-party events".

Match receipts dropped to £105.8m from £117.6m due to nine fewer games.

Tottenham's net debt increased to £772.5m in 2024 compared to £677.4m 12 months ago.

However, the club said that because the average maturity of all their borrowings is 18.6 years it will have "limited impact" on the their ability to invest in the playing squad.

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Tottenham transfer rumours: Tyler Dibling, Chris Rigg

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Tottenham transfer rumours: Tyler Dibling, Chris Rigg - BBC.com
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Jan Vertonghen: Former Tottenham Hotspur defender announces retirement from professional football

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Jan Vertonghen: Former Tottenham Hotspur defender announces retirement from professional football - BBC.com
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Former Tottenham Hotspur and Belgium defender Jan Vertonghen will retire from professional football at the end of the season.

The Anderlecht captain, 37, made 315 appearances for Spurs between 2012 and 2020 - twice being named in the PFA Premier League Team of the Year - as well as helping the club reach the Champions League final in 2019.

He retired from international football last year as the record appearance holder for Belgium with 157 caps.

Injury has limited the centre-back to just five games for Anderlecht this season.

"I have noticed that it is becoming more and more difficult to prepare myself physically for training sessions and matches and to show myself as the player I want to be," he said.

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Tottenham transfer rumours: Chris Rigg, Yusuf Akcicek

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Tottenham news: Opinion - Fan on Son Heung-min's leadership skills

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Tottenham news: Opinion - Fan on Son Heung-min's leadership skills - BBC.com
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What makes an effective captain?

Does leading by example require a loud voice on and off the pitch and a 'larger than life' character? Or will a team go into battle for a gentle leader?

Personally, I think there is a lot of to admire about quiet leadership.

Effective leaders take their teams on a journey with them by establishing strong bonds built upon trust. They do this by being authentic and honest and by empowering those they lead to be the best versions of themselves.

In turn, the team respects the leader and is willing to invest in this shared journey, as they believe in its purpose.

So, it does not bother me that Son Heung-min prefers not to shout at his players when things are not going well.

I do not want Son to be a bully. I want him to lead by example. I want him to be consistent and intentional – to demonstrate the right thing to do in the right moment.

Like the rest of the squad, Sonny has struggled with consistency this season and looks exhausted from a relentless and unforgiving campaign. However, can we see the best of him in every game that is left, and what does this look like?

Unsurprisingly, there is a lack of confidence in the squad right now. When the heads around him start to drop, Son needs to demonstrate confidence and show his team how to fight.

He can do this by purposely moving play forward, by unlocking low blocks with his speed of thought – even if the speed in his legs is starting to falter – and by finding the right pass.

If Son can elicit better performances from others by giving more of himself on a consistent basis, he can empower his team towards success.

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Tottenham news: Does Ange Postecoglou's future hinge on Europa League?

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Tottenham news: Does Ange Postecoglou's future hinge on Europa League? - BBC.com
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We can go on about how many injuries Tottenham have had this season, and that has certainly played a part in their inconsistencies, but they have got a nearly fully fit squad available now and the fans are frustrated by some of the performances and results.

Ange Postecoglou has a philosophy and way of doing things and believes in what he is doing at Spurs. He has snapped a few times at fans and the media, but I think that is more ego and belief in himself rather than pressure.

He has a long-term plan with the personnel and he thinks: 'This is me. I'm going to stand by who I am and what I am doing.' Last season, everybody was excited by Postecoglou and his style but when it turns on its head like it has this season, things can get heated. Fans will understandably be frustrated.

Unless he wins the Europa League this year I don't think he will keep his job with the league position they are in. When managers have a longer-term plan and distinct philosophy it is whether the people above want to buy into that and buy them the players they need, and whether the fans have the patience to buy into that.

I do think Postecoglou would need time. If you look at his first season you can see the direction he was taking the team.

They would need to sign some players in the summer, especially central defenders, if they are to keep him next season even if they do not win the Europa League and want to play his style.

But, you can see the frustration among the fans and the inconsistency in performances and that can become quite difficult to sustain.

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Mauricio Pochettino: Why US compesation clause means unlikely Tottenham return before World Cup

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'Pochettino's US compensation means imminent Spurs return unlikely' - BBC.com
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United States head coach Mauricio Pochettino had sections of his former club's fanbase giddy with excitement last week after he declared his desire to one day return to Tottenham.

It isn't a new concept, Pochettino has previously been clear in his wish to become Spurs head coach for a second period - but the current conjecture over incumbent Ange Postecoglou's future has sharpened the issue.

The Argentine remains a hero among some of the regulars at the Tottenham Hotspur Stadium. Joining in 2014, Pochettino led the team to second and third placed finishes in the Premier League and a Champions League final.

Photos of Pochettino sharing a coffee with Tottenham chairman Daniel Levy, that went viral on social media last week, served only to amplify affections among supporters who pine for his return.

The fact the photos are not recent, certainly not taken over the past 10 days, won't quell the fervour.

Pochettino is under pressure in his current job. With a home World Cup in 2026 just 15 months away, his US side have lost consecutive Concacaf Nations League matches in the past week - beaten by Panama and Canada.

Yet, dig deeper and you realise the prospect of the 53-year-old returning to Spurs any time soon is hugely unlikely.

The United States Soccer Federation would be owed what has been described by a well-placed source as "one of the biggest financial compensation fees in football history" if Pochettino was to leave for Spurs - or any other team for that matter - before the next World Cup.

Chelsea's £21m payment to Brighton to land Graham Potter after sacking Thomas Tuchel in 2022 and Bayern Munich's £21m to Red Bull Leipzig to pave the way for Julian Nagelsmann's appointment in 2021 are, according to reports, ranked as the two largest managerial compensation packages in history.

Pochettino signed a two-year contract in September, with multiple reports stating he earns £4.6m a year.

However, it is understood the sum US Soccer would recoup if Pochettino leaves before next year's tournament, which they are hosting along with Canada and Mexico, extends way beyond the his salary and much closer to the amount Chelsea and Bayern, respectively, paid to land Potter and Nagelsmann.

Pochettino's recent remarks appeared to swing the door open towards him replacing Postecoglou should the Australian lose his job before next season.

"I am in the USA, so I am not going to talk about that now - but what I said then I still, after six years or five years, feel in my heart," he said last week. "Yes, I would like one day to come back."

However, according to well-placed sources, Pochettino has no immediate wish to return to Spurs. He is said to be fully committed to leading the US to a home World Cup.

Of course, the mammoth cost of releasing Pochettino from his current deal lends itself to a singular focus, with the notion of any club - particularly one with a chairman as financially astute as Daniel Levy - parting with such a sizeable sum as being far-fetched.

Yet, you get the sense Pocehttino's desire to lead the US to the World Cup is genuine and not a mindset borne out of stipulations relating to his contract.

Indeed, during the same interviews in which he re-affirmed his intention to one day return to Tottenham, the South American spoke of his engagement with his new team and the project ahead.

"For us, the pressure is going to be there [at the World Cup] because we are a host," he said.

"And then it's a country where the mentality is about winning. In sport, in everything that Americans are involved in, they want to win.

"The players know it's going to be massive pressure and now our president [Trump] likes to put pressure on, but it's welcome. That means we are going to feel the adrenaline we need to feel. We are ready to deliver."

Much of the hype surrounding Pochettino's hypothetical return to Spurs stems from the fact Postecoglou is by no means certain of remaining in charge heading into next season.

Tottenham's disappointing season leaves him under scrutiny. They are in 14th place in the Premier League, having accumulated 34 points. Even if they win all their remaining nine matches, they would still fall short of last season's points total of 66.

Their wait for a domestic trophy will extend into next season after being eliminated from both cup competitions.

Postecoglou's only saving grace is Tottenham's run in the Europa League; they face Eintracht Frankfurt in the quarter-finals next month.

Of course, if Spurs win that competition the season takes on a very different complexion. Not only would success in Europe end the club's 17-year wait for silverware but it would also see them qualify for next season's Champions League.

Such a scenario would surely see Postecoglou strengthen his position.

That is easier said than done, of course. Indeed, failure to win the Europa League would raise further uncertainty over Postecoglou's job moving forward.

All current indications are that Tottenham want to get to the end of the season before reviewing the campaign and come to a decision.

Results, though, will likely dictate the club's approach.

Sunday's defeat by arch-rivals Canada has taken Pochettino's record as US head coach to five wins and three losses.

Prior to the current international break, Pochettino's win ratio since replacing Gregg Berhalter in September was healthier. But losing to Panama - 1-0 in the semi-final of the Concacaf Nations League - and 2-1 to Canada in the third-placed play-off, has led to some negativity.

Pochettino quickly moved to quell any disquiet after Sunday's defeat, saying: 'I've seen some times that teams that were building to play in the World Cup, they were not good until around the World Cup.

"I want to send a message to the fans, don't be pessimistic and don't get bad feelings.

"I think we have time because if we will be in this situation in one year time, for sure, I will tell you, 'Houston, we have a problem,' no?" Pochettino said.

"In one year, if we're talking about that, it's because we have a big problem and we were not capable to discover, to try design a better strategy to provide to the team the capacity to play in a different way.

"I think we have time and I prefer that that happened today than [you] know, in one year."

Nevertheless, with around 15 months until the World Cup starts, this month's results will have fans apprehensive.

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Tottenham transfer rumours: Tyler Dibling, Rodrigo Bentancur

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Tottenham Q&A: Why are Spurs criticised over culture?

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Tottenham Q&A: Why are Spurs criticised over culture? - BBC.com
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In the third part of our Q&A on Spurs, our news reporter Nizaar Kinsella tries to put his finger on the concept of culture at Tottenham and why this club in particular is criticised over not being able to win trophies.

Francis asked: What do people mean, specifically, when they say there's no winning DNA at Tottenham? Is it player culture, staff culture, the medical team? Very few teams win things, even fewer win regularly, but this is commonly pointed at Tottenham in a way it isn't at other clubs.

Nizaar answered: I've always been told by high achievers in football at other clubs that you must first go close to winning before actually crossing the line.

The concern with Tottenham is they were close under Mauricio Pochettino but have let that ebb away, chasing the winning DNA with Antonio Conte and Jose Mourinho, all the while disconnecting from the fans by abandoning a style of football fans wanted.

For a time, Ange Postecoglou looked to be the man to tie it together but look further away than ever. The longer you go without winning a trophy, the harder it gets and many in that squad have never won silverware.

When you meet footballers, the vast majority of them go their entire careers without winning a trophy and Spurs trying to break that cycle is the hardest thing to achieve in the sport - in the toughest league in the world.

Alex asked: With a succession of successful managers who have not won anything at Spurs, is the problem that it's too comfortable and lacks a winning culture with average players?

Nizaar answered: For all I have said about the medical reasons, the manager and the ownership, I also think the players deserve scrutiny. Particularly, there remain questions about whether the leadership group consists of strong enough winners or whether Spurs are just not quite talented enough to win.

It is also fair to say the recruitment in the summer around young players may have seen Spurs take one step back to take two steps forward.

Having met a lot of the Spurs players in my decade in football, there are clearly a lot of wonderful, honest and ambitious people involved. The young players seem extremely talented, but it just has not come together for a winning culture.

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Tottenham: Mauricio Pochettino would like to return one day

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Former Tottenham Hotspur manager Mauricio Pochettino says he would like to return to the north London club one day.

The 53-year-old managed Spurs between 2014 and 2019, leading the club to a second-place finish in the 2016-17 Premier League season, the 2015 EFL Cup final and the 2019 Champions League final.

He was sacked in November 2019 and then managed Paris St-Germain and Chelsea before being appointed United States coach in September.

"When I left the club I always remember one interview I said I would like one day to come back to Tottenham," the Argentine told Sky Sports., external

"I am in the USA, so I am not going to talk about that now - but what I said then I still, after six years or five years, feel in my heart. Yes, I would like one day to come back."

Pochettino says he retains a "very good relationship" with Daniel Levy despite being sacked by the Spurs chairman.

"It's true after nearly six years with all that we lived together, it was tough because of all the ups and downs and emotional things that we lived," he added.

"We split very well. One thing was professional, another personal and now, like the day after we left Tottenham, we always have a very, very good relationship."

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