Tottenham Hotspur chairman Daniel Levy has accused other Premier League clubs of distorting the transfer market (via The Telegraph).
Levy said while his club wants to remain competitive on the pitch, they must do it with financial sustainability at the back of their mind.
His comments come after Chelsea spent over £500 million in the last two transfer windows.
Manchester City and Newcastle United have come under fire for state sponsorship, with owners pumping money into the clubs to push them into the upper realms of European football.
Levy has received criticism for not spending as aggressively as their rivals, but he has continuously shut down those claims.
His critics have pointed to his failure to secure the naming rights deal for Tottenham’s stadium, a move that would secure them some transfer funds.
The club also lost a £42.5 million sponsorship deal with South Africa Tourism. South Africans protested vehemently against it, and it eventually collapsed.
Despite investing over £500m in the club, Levy still faces weekly ‘get out of our club’ chants from fans.
He said he understands the calls for more spending before shifting the criticism to how their rivals are throwing money around.
“The landscape of the Premier League has changed significantly in the last decade,” Levy said.
“It is understandable that some fans call for more spending, much of which is unsustainable for many clubs.
“We are competing in a league in which we have seen increased sovereign wealth ownership and consortia finance; and in a league where the spending power is now vested in the hands of a few who dominate and have the ability to distort the market.
“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.
“We share our supporters’ frustrations at so many ‘near misses’ resulting in a lack of trophies.
“Over the last two decades we have been in 14 semi-finals, made it to six finals and only won one of them. It must be our hope that we are soon celebrating a trophy win.
“We are immensely grateful to our fans who have supported us throughout and we want nothing more than to see them rewarded for their loyalty and passion.”
Levy’s spending comments come on the same day Pep Guardiola hit back at the Spurs boss and the other league clubs for pushing for their punishment.
Guardiola’s club, Manchester City, have been accused of breaching over 100 rules. The accusations are over financial breaches between 2008 and 2018.
The Premier League has set up an independent panel for the case, although the case could drag on for a long time.
If they are guilty, Man City could face massive fines, a points deduction or relegation. But Guardiola remains adamant they will beat the charges.
