DAN THE MAN
Daniel Levy earns £300,000 pay rise and £3m bonus… as Tottenham report £87m in losses
Levy has heaped praise onto Postecoglou
DANIEL LEVY earned a £300,000 pay rise and a bonus of £3million for the 2022-23 season - when Tottenham made a loss of £87m.
Spurs' latest set of accounts submitted to Companies House show the chairman's pay went up from £3.26m to £3.58m.
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It comes almost a month after the club copped flak for announcing a six per cent increase in season-ticket prices from next season, as well as the removal of concessions for over-65s.
Levy also revealed the North Londoners are in talks over potential fresh investment in the club - though SunSport understands this would be for minority stakes, not a full sale.
Spurs put their losses for the 2022-23 season, up by almost £37m on the previous year, down to splashing out on players.
They claimed the deficit “reflected the significant and continued investment in the playing squad” - though they also reported revenues of over half of a billion pounds for the first time.
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Spurs bought the likes of Richarlison for £60m, Guglielmo Vicario for £17m and James Maddison for £40m during the period accounted for (up until June 30, 2023).
The £104m sale of Harry Kane to Bayern Munich came after this period, so is irrelevant to the latest set of accounts submitted to Companies House - as is the £47.5m signing of Brennan Johnson from Nottingham Forest.
Chairman Levy credited the multi-use of the club’s stadium - which has hosted events such as NFL games and a Beyonce concert - as a big reason as to why turnover leapt up a whopping £105m to £549.6m.
The supremo confirmed the club’s commitment to supporting Premier League profit and sustainability rules and revealed the club is in discussions with possible new investors.
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The 62-year-old said: “The club remains fully compliant with the Premier League profit and sustainability rules and is supportive of the enhancement of PSR to ensure the Premier League remains competitive and sustainable.
“To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base.
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“The board and its advisors, Rothschild & Co, are in discussions with prospective investors.”
Levy's pay increase is unlikely to go down well with fans already annoyed by the season-ticket price increase.
Supporters were particularly infuriated by the controversial decision to remove concessions for over-65s - prompting a number of fans to turn their back on 65 minutes in Saturday’s 2-1 win over Luton in protest.
Spurs are currently fifth in the Premier League under Ange Postecoglou, which could be enough to seal Champions League qualification this season.
Levy has been impressed with the job the Aussie has done since succeeding Antonio Conte - particularly with the implementation of a more exciting style.
He said: “The 2023-24 season, the first under Ange, was always going to be one of building for the future.
“We have seen progress with the return of exciting, attacking football, even when faced with significant player injuries.
“We continue to challenge for the highest possible place finish with eight games still to play and hope to bring European football to our home stadium again.”
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Levy's £3m windfall was the first bonus he had received in the last five years.
Estimates for the return from the controversial six-per-cent increase in season ticket prices from next term have been placed between £2.5m and £3m.
Tottenham signings
Spurs signings from July 1, 2022 to June 30, 2023.
- Richarlison £60m
- Cristian Romero £43m
- James Maddison £40m
- Yves Bissouma £30m
- Dejan Kulusevsi £25m
- Djed Spence £20m
- Guglielmo Vicario £17m
- Destiny Udogie £15m
- Manor Soloman FREE
- Arnaut Danjuma LOAN
- Clement Lenglet LOAN
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