Tottenham Hotspur Reports £121M Loss Despite Europa League Win

Tottenham Hotspur have announced a pre-tax loss of £121 million for last season, despite revenue increasing by seven percent due to their Europa League win. Spurs, who are set to name Roberto de Zerbi as their new manager, suffered a drop in media revenues as they finished 17th in the Premier League and saw operating expenses increase due to a higher wage bill and hosting more games.

These factors more than offset increases in matchday takings, commercial income and prize money from their Europa League success. Tottenham made a pre-tax loss of £120.6 million and a net loss of £94.7 million on revenues of £565.3 million.

Net debt increased to £831.2 million as of June 30, 2025, up nearly £60 million on the previous year, although more than 90 percent of financial borrowings are at fixed rates averaging just above three percent. The results come during a turbulent season for the north London club, who sacked manager Ange Postecoglou last summer and dispensed with his successor Thomas Frank in February. His interim replacement Igor Tudor left Spurs this week, having failed to arrest their slide.

The report indicates that the Board of Directors continually monitors the Group’s exposure to a range of risks and uncertainties, including the success of the First Team and its level of spending thereon, the current economic landscape, and the funding requirements for capital projects.

The directors have identified a number of actions they could take in order to mitigate any potential cash flow or financing shortfalls, which could potentially arise in a downside scenario. These mitigating actions could include, but are not limited to, advancement of future cash inflows and/or deferring future cash outflows, sale of assets, and additional financing arrangements.

Daniel Levy was paid £5.8 million in his last year as executive chairman before leaving the club in September, after more than two decades.

The club has gone through major management changes, including the dismissal of two coaches in a single season. Instability in the coaching staff and sporting results have contributed to the club's financial situation.

The directors are taking measures to ensure the club's financial stability, including considering various strategies to mitigate risks and ensure cash flow.

The report highlights the importance of monitoring the group's exposure to risks and the need to take action to mitigate potential financial problems. This includes the continuous assessment of the economic situation and the planning of financial strategies to ensure the club's sustainability.

The club's financial situation reflects the challenges facing football clubs today and the need for prudent financial management to ensure long-term success.