View: Daniel Levy forced to pay extra £3m-a-year at Tottenham after news in last 24hrs

Daniel Levy has to find an extra £3million every year at Tottenham after an increase to the National Insurance rates was announced.

Chancellor of Exchequer Rachel Reeves announced on Wednesday (30 October), among other things, that the National Insurance rates for employers will rise from 13.8% to 15% starting April 2025 (BBC).

While the move is expected to significantly raise the government’s revenue, it is a blow for employers and businesses, including football clubs operating in the country and it is no different for Spurs.

Daniel Levy forced to find another £3million every year at Tottenham

Tottenham’s wage bill stood at £251.1million in their accounts for 2022-23 released in April this year, as highlighted by The Swiss Ramble.

Going by that, Levy would now have to find an extra £3million every year to meet the 1.2% increase to the National Insurance rates for employers.

It will not impact the fiscal year ending June 2024, but will reflect on the accounts for 2024-25 as the hike comes into effect in April.

The £3million figure will also change depending on how much the club’s wages and salaries have increased or decreased since June 2023.

Tottenham have since sold Harry Kane, their highest-earner at the time, to Bayern Munich, while also getting the likes of Hugo Lloris, Tanguy Ndombele and Lucas Moura off their wage bill.

They have also added the likes of James Maddison, Dominic Solanke and Timo Werner (albeit on loan) to their ranks and that will have affected their wage bill as well.

In other Tottenham news, Spurs have made an approach to sign this South American sensation wanted by another European club.

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