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.

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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...