Tottenham Hotspur have a ‘growing’ cash problem after hitting a 10-year low, finance expert reveals
A football finance expert has highlighted the worrying signs about Tottenham’s financial health that he has spotted after the club released their latest round of financial statements.
Tottenham shared their financial statements for the year ending June 30, 2025, and the numbers show mixed results.
The club have seen their revenue increase to £565.3m, which represents a 7 per cent increase, mainly driven by their Europa League success last year.
However, Spurs revealed that their Profit from Operations (EBITDA) decreased to £112.3m (a 22 per cent decrease) while their Loss after Tax increased to £94.7m.
Tottenham have a growing need for cash despite posting record revenue
The Athletic’s Football Finance Writer, Chris Weatherspoon, has now revealed that Tottenham’s 2024-25 accounts show that the club have posted their worst-ever pre-tax profit, and there is growing shortage of cash at Spurs.
He explains that as of June of last year, Spurs held just £20.4m in liquid cash, which is a 10-year low for the Lilywhites and a reduction of nearly £180m over two years.
Weatherspoon says that these numbers show that Tottenham are less self-sustaining than they have been at any time under ENIC’s ownership.
Tottenham continue to be a hugely cash-generative operationally, making £92m last season, which has only been bettered by Arsenal, Liverpool and Man United.
However, the size of the club’s outgoings has left them short of cash and forced them to turn to other sources for funding.
Transfer fees continue to be the main expense for Spurs
Weatherspoon explains that Tottenham’s increase in outlay has primarily been driven by their transfer spending, with the club having a net outlay of £561.6m on transfers since 2019.
At the end of June 2025, the club’s net transfer debt (money already owed to other clubs) stood at £242.8m, while an additional £159m was spent on players last summer.
The football financial expert reveals that Tottenham’s journey to the final 16 of the Champions League this term will generate £74m, but points out that the club are showing no signs of slowing down their transfer spending.
The post Tottenham Hotspur have a ‘growing’ cash problem after hitting a 10-year low, finance expert reveals appeared first on Spurs Web.