Daniel Levy has blamed the Spurs players for the huge pre-tax losses announced today. The club has lost £7.1m just a year after a £900,000 profit was made in 2002. Levy stated that last season's performances 'Were well below the level we hoped for'. This statement will also be felt by Glenn Hoddle who will have been in the mind of Levy when these figures were reported.
Levy will now be hoping that the club's recent improvement in form will continue and that a UEFA Cup spot is acquired. He admitted, 'Trading will be influenced by the performance and success of the team over the remainder of the season'. What is not noted in this financial loss is the money spent on the purchases of Bobby Zamora, Helder Postiga and Freddie Kanoute, another cool £11.75m and there will be no such sums put forward when the transfer windows re-opens in January or even in the summer. Levy admitted that 'The spending pattern this summer is not one that is sustainable over the long term'.
While it is not quite a Leeds United scale crisis, the Spurs board will be concerned with the current financial sitiuation, but the players will be hoping that the chairman does not continue to put pressure on an already tense time at the club.