Tottenham are on the verge of breaking their club-record transfer fee for the second time in a matter of days, with summer spending now at £237m and more expected to follow. The splurge marks a defiant response from a club that finished 17th – one place above the relegation zone – in each of the past two seasons.
After completing a £52m move for Jan Paul van Hecke from Brighton, Spurs signed Mateus Fernandes from relegated West Ham for a club-record £85m on Thursday. They have also agreed a deal with Newcastle for Sandro Tonali worth up to £100m – a player Arsenal wanted but found too expensive. The total outlay has already eclipsed last season’s record of £235.8m, and there is potential for a further £250m to be spent before the window closes.
“Tottenham's summer spending hits £237m with record deals for Fernandes and Tonali, as De Zerbi pushes for more signings.”
The transformation began when Daniel Levy ended his near 25-year reign as executive chairman in September. In an open letter in May, new chairman Peter Charrington said the club “recognised that something seismic had to change”. He added: “What has been put in motion is real, and it marks a genuine break from what had come before. We must be in the fight with the best teams in this league, every season, and we are rebuilding this club with that standard in mind.”
Investment group Enic, the majority shareholder with 86.58%, “authorised a full reset” and for the second time in 10 months has injected £100m into the club via the purchase of new shares. New spending rules, higher revenues and owner cash injections are enabling the hierarchy to spend early and decisively.
Manager Roberto De Zerbi – who helped Tottenham survive relegation last season with three wins and two draws from seven games – is now demanding more reinforcements, according to reports. Spurs have left their Premier League rivals playing catch-up during what has been described as a dream start to the summer window. The question remains whether this statement spending will finally lift Tottenham back into the top-six fight after two seasons of survival football.