“We Are Not Banks But Football Club,” – Ange Postecoglou Reacts to Tottenham Financial Losses After Spending €210m on New Signings

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Ange Postecoglou is indifferent to Tottenham Hotspur’s dwindling financial fortunes despite brokering €210m-worth of transfer deals on his debut spell with the club.

The Aussie bloke, with a messianic managerial touch, gave a candid response when asked about Tottenham’s deficit balance sheet in 2023.

We reported earlier that Tottenham has been put up for sale due to lack of funds after posing £87m in losses in 2023.

Tottenham chairman Daniel Levy announced the decision to sell stakes to potential new investors to acquire more investible funds and also assuage the financial deficit.

Ange Postecoglou

When asked about Tottenham’s apparent financial misfortunes, Ange Postecoglou said Tottenham Hotspur is not a bank but a football club.

“We’re not banks, we’re football clubs.

“We’re not financial institutions. I don’t get measured by the balance sheet at the end of the year.’

Apart from selling stakes to new investors, Tottenham could witness a huge relief in their financial situation if they qualify for Champions League.

Futballnews understand Premier League clubs could theoretically rake in a whooping €155m in next season’s Champions League.

Tottenham are strongly in the race to qualify for the elite club competition next season but Ange Postecoglou has maintained he cares less of the financial rewards of the competition but on sporting merits.

“My role is not to worry about the financial pressure of making Champions League, it is to create a squad that hopefully can compete in the Champions League and keep improving in the Premier League and have success in the cup competitions.”

Ange Postecoglou has done a pretty good job in his debut campaign with Tottenham but it appears the former Celtic boss pays more attention to the sporting side of the club than the financial aspect.

Tottenham’s dwindling fortunes can be linked to the crop of deals Postecoglou completed after assuming the reins as the new manager. He expended €210m on the signing of Guglielmo Vicario (€18m), Radu Dragusin (€25m), Dejan Kulusevski (€30m), Micky van de Ven (€40m), James Maddison (€46m), and Brennan Johnson (€55m).

The €104m sale of Harry Kane was a financial game-changer for Tottenham, but more drastic steps has to be taken to avoid serial yearly financial losses that could place the club at risk of breaching Premier League profit and sustainability rules.

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