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Daniel Levy acknowledges he has made mistakes in the transfer market with Tottenham, but believes the club are still growing financially.
The Premier League outfit saw a 22.7 per cent increase in total revenue for the year ending June 2022, as disclosed in their annual financial results.
That has not assuaged fan concerns over the club’s transfer policy however, with Spurs still experiencing a silverware drought despite spending more than £500million since April 2019.
Levy, who has been the target of vocal criticism over the direction Tottenham have gone under his leadership, defended his work this week but acknowledged his gambits had not always paid off.
“Our spend levels show we have invested in the team,” he said. “However, we walk a fine line between long-term investment and short-termism.
“This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons.
“We have felt, and continue to feel, the financial impact of supporting player purchases which have not worked out as planned.
“We have taken steps to improve this area of operations, and we believe the recent transfer windows reflect this.
“Our aim has always been to combine the financial stability of the club with remaining competitive on the pitch. We have to do what is right for us and sustainable in the long term.”
Tottenham have bought several players in recent seasons that have failed to live up to their price tags, including Tanguy Ndombele and Moussa Sissoko.
The former broke the club’s spending record in a £55.45 million deal, but is now on loan at Napoli after struggling to impress in north London.
