Finance expert reveals how Tottenham can spend even more despite breaking transfer record twice
Financial expert Stefan Borson has now explained why Tottenham can afford a huge summer spending spree after breaking their transfer record twice.
Tottenham Hotspur’s expenditure so far this summer transfer window has certainly caught the eye of many, with the club showing a willingness to splash the cash.
This was made rather evident when Spurs went on to break their transfer record fee for a new signing twice in the space of a week.
The £85 million signing of Mateus Fernandes toppled the previously held £65 million record by Dominic Solanke from back in 2024, but Spurs went one better by completing a club‑record £100 million deal for Sandro Tonali.
These big‑money moves are not expected to stop just yet, with reports claiming that Spurs are preparing a mammoth bid for Bournemouth forward Eli Junior Kroupi.
Stefan Borson explains Tottenham’s summer spending
With Tottenham continuing their spending spree, financial expert Stefan Borson has now explained why the Lilywhites have been able to invest so heavily this summer.
Speaking on talkSport, Borson suggested Spurs’ recent spending is not the result of reckless financial planning, but rather a correction after years of operating well below the levels of their Premier League rivals.
He also explained why the club remain in a strong position from a Profit and Sustainability Rules (PSR) perspective, while revealing where the funding for their transfer business is expected to come from.
Discussing Tottenham’s financial position, Borson said on talkSport: “Well the starting point is that they are spending, we talked about this many, many times.
“They spent too little for quite a long time, so they got to the point where they were underspending on wages in particular and they were being very prudent in the transfer market, although still spending.
“All that is really happening is a correction that brings them more in line with Arsenal, City, Liverpool and Manchester United of a couple of years ago. United are going slightly down a different path at the moment, and Chelsea of course.
“So really they are just correcting to that sort of level of spending on wages. From a regulatory perspective, a PSR perspective, there are no issues. They have got loads of capacity there on PSR.
“Because they are not in Europe, they have an 85 per cent cap and no UEFA tests at all next season, so that makes that bit a little bit easier as well in the short term.
“In terms of the transfer fees, the only real question is the cash, and the cash is going to come from the Lewis family, and everything is sorted on that side.”
Spurs remain well within PSR limits
Indeed, Tottenham are well in the clear when it comes to PSR rules this summer, with reports revealing that Spurs can spend as much as £250 million more and still be clear of trouble.
And while Tottenham have broken their wage structure this summer transfer window, making Tonali their highest‑paid player on £250,000 a week, they still have a rather low wage bill compared to their local rivals.
As it stands, Tonali is the only Spurs player earning more than £200,000 a week, with several other stars on £195,000 as the next highest wage in the squad.
Tottenham 2025/26 wages plus Tonali and Fernandes
| Player | Position | Country | Annual Salary | Weekly Salary |
| Sandro Tonali | Midfielder | Italy | £13,000,000 | £250,000 |
| Christian Romero | Defender | Argentina | £10,140,000 | £195,000 |
| Xavi Simons | Midfielder | Netherlands | £10,140,000 | £195,000 |
| Matthew Fernandes | Midfielder | Portugal | £9,100,000 | £175,000 |
| James Maddison | Midfielder | England | £8,840,000 | £170,000 |
| Conor Gallagher | Midfielder | England | £8,320,000 | £160,000 |
| Mohammed Jerusalem | Midfielder | Ghana | £7,800,000 | £150,000 |
| Dominic Solanke | Forward | England | £7,280,000 | £140,000 |
| Dejan Kulusevski | Forward | Sweden | £5,720,000 | £110,000 |
| Richarlison | Forward | Brazil | £4,680,000 | £90,000 |
| Micky van de Ven | Defender | Netherlands | £4,680,000 | £90,000 |
| Radu Dragusin | Defender | Romania | £4,420,000 | £85,000 |
| Pedro Porro | Defender | Spain | £4,420,000 | £85,000 |
| Ben Davies | Defender | Wales | £4,160,000 | £80,000 |
| Rodrigo Bentancur | Midfielder | Uruguay | £3,900,000 | £75,000 |
| Archie Gray | Midfielder | England | £3,900,000 | £75,000 |
| Destiny Udogie | Defender | Italy | £3,900,000 | £75,000 |
| William Vicar | Goalkeeper | Italy | £3,900,000 | £75,000 |
| Pape Matar Sarr | Midfielder | Senegal | £3,640,000 | £70,000 |
| Kevin Danso | Defender | Austria | £3,380,000 | £65,000 |
| Lucas Bergvall | Midfielder | Sweden | £3,120,000 | £60,000 |
| Mathys Tel | Forward | France | £2,860,000 | £55,000 |
| Wilson Odobert | Midfielder | France | £2,080,000 | £40,000 |
| Djed Spence | Defender | England | £2,080,000 | £40,000 |
| Antonin Kinsky | Goalkeeper | Czechia | £1,560,000 | £30,000 |
| Souza | Defender | Brazil | £1,300,000 | £25,000 |
| Brandon Austin | Goalkeeper | England | £780,000 | £15,000 |
| Ashley Phillips | Defender | England | £780,000 | £15,000 |
| Dane Scarlett | Striker | England | £648,000 | £12,000 |
| Mikey Moore | Midfielder | England | £260,000 | £5,000 |
| Yang-min Hyeok | Midfielder | South Korea | £260,000 | £5,000 |
| Jamie Donley | Midfielder | England | £213,200 | £4,100 |
| Will Lankshear | Striker | England | £176,800 | £3,400 |
