The spending by Premier League clubs in the current transfer window is "unsustainable," Tottenham Chair Daniel Levy said, according to the LONDON TIMES. English top-flight teams have "splashed out" more than £768M ($1B) since the end of last season, but Tottenham, runner-up to Chelsea in May, has "not yet added" to its squad. Levy said, "Some of the activity that is going on at the moment is just impossible for it to be sustainable. We have a duty to manage the club appropriately. Somebody spending £200 million ($261.2M) more than they're earning, eventually it catches up with you." The club is building a new 61,000-seat stadium, which is scheduled to open next year. Levy: "We have to find the right balance but I can honestly say it [the stadium] is not impacting us on transfer activity because we are not yet in a place where we have found a player that we want to buy who we cannot afford to buy" (
LONDON TIMES, 7/26). In London, Mark Dobson reported Levy said, "I think I am a custodian of this football club. This club has been around since 1882 and when I leave it will be somebody else. I think we have a duty to manage the club appropriately." Tottenham's new stadium is expected to cost around £750M ($979.4M). Levy added, "Obviously when you're building a stadium of this magnitude and it all has to be privately financed -- there's no state help whatsoever -- it is a challenge" (
GUARDIAN, 7/25).
