Monday, October 14, 2019

Tottenham won´t change transfer strategy after stadium debt refinancing, admits chairman Levy

SoccerNews in General Soccer News 20 Sep 2019

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Tottenham chairman Daniel Levy will not change his transfer strategy despite completing a £637million refinancing of loans taken out to support the construction of the club’s new stadium.

Spurs supporters were left waiting for over a year for new arrivals after Lucas Moura signed for a reported £25m from Paris Saint-Germain in January 2018, with transfers taking a back seat while Tottenham Hotspur Stadium was completed.

That barren interval ended in July when Jack Clarke was purchased from Leeds United for what was understood to be £8.5m, and a club-record deal worth £62.8m for Lyon’s Tanguy Ndombele followed soon after.

Ryan Sessegnon also arrived from Fulham for a reported £25m ahead of the 2019-20 campaign, and Levy has no plans to change his approach in the market.

“[The refinancing] will have no bearing on how we run the club… and no bearing on those types of short-term movements [like transfers],” Levy told the Financial Times.

“We could have easily spent more money on players. Who knows if that would have bought us more success or not.

“The right approach is to build from the bottom up. There is no quick fix to becoming a much more significant global club.

“I understand, as I am a fan, clearly you want to win on the pitch. But we have been trying to look at this slightly differently, in that we want to make sure we ensure an infrastructure here to stand the test of time.”

Levy described the club’s financial manoeuvre as “prudent” and indicated that efforts would be made to utilise the 62,000-capacity ground for more than just football to help recoup their investment.

“We have continued to develop Tottenham Hotspur in line with prudent financial management and investment into the club’s key infrastructure and our fast-growing global brand, successfully matching long-term assets with long-term financing,” Levy told the club’s official website.

“It is a tribute to the team on and off the pitch that we have achieved what is considered to be one of the most attractive financing deals in the world of sport.

“Our club is extremely well-positioned as we move forward delivering the excitement and entertainment of Premier League and Champions League football, NFL, rugby, concerts and much more.”

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