Tottenham Hotspur have recorded back-to-back 17th-place finishes in the Premier League. If they want to return to the top half of the table, they need to spend wisely this summer.
Spurs tried to be ambitious in the transfer window last year but failed to complete deals for Antoine Semenyo, Morgan Gibbs-White and Eberechi Eze. Mohammed Kudus and Xavi Simons arrived for a lot of money, but both missed a significant amount of game time through injury.
Roberto De Zerbi joined Spurs in March with the sole aim of preserving their top-flight status. The Italian led them to safety by taking 11 points out of a possible 21 from their final seven games. Following their 1-0 victory against Everton on the last day of the season, De Zerbi made it clear that the squad needs significant investment.
“From tonight, we have to start to organise and to build a new team,” De Zerbi said. “We have now to change too many players. We have 10, 11, 12 players good enough to stay… And then we have to complete the squad with the first level of players.”
Here, The Athletic breaks down what to expect from a busy summer.
The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Sources with knowledge of transfer dealings, who asked to be kept anonymous to protect relationships, have been spoken to before offering the clubs involved the opportunity to comment.
Who will make key decisions this window?
This will be Tottenham’s first summer transfer window in 25 years without Daniel Levy running the show. The club’s former chairman often handled negotiations with other teams but he was removed from his role in September by the majority shareholders, the Lewis family.
It means the responsibility and pressure will fall on chief executive officer Vinai Venkatesham, sporting director Johan Lange and head of scouting Rob Mackenzie to deliver what De Zerbi wants.
Spurs’ recruitment team will be completed by a new co-sporting director. The new hire will replace Fabio Paratici, who left at the end of the winter transfer window. The Athletic reported in April that former Borussia Dortmund sporting director Sebastian Kehl was the leading contender, but nothing has been confirmed yet.
What positions will they be looking at in the summer window?
Spurs want to provide Micky van de Ven with competition and cover at left-sided centre-back, and this will be addressed with the impending arrival of Marcos Senesi from Bournemouth.
Spurs are progressing with a deal for departing Liverpool left-back Andy Robertson, who will give De Zerbi a natural alternative to Destiny Udogie in that position. Djed Spence has done an admirable job covering for the Italian but will be able to focus on challenging Pedro Porro to be first-choice right-back.
Depending on what happens with Cristian Romero’s future, they could be in the market for a right-sided centre-back. Luka Vuskovic enjoyed an impressive season on loan with Hamburg and caught the attention of clubs across Europe. There have been discussions about the 19-year-old signing a new contract with Spurs, but he will wait until after the World Cup before deciding his next steps. Hamburg would be very interested in him returning on loan, but currently don’t see it as a possibility.
Tottenham Hotspur are progressing with a deal for Andy Robertson (Jack Thomas/Getty Images)
What is the manager’s priority?
Spurs need to upgrade their attacking options.
Mathys Tel and Wilson Odobert have shown flashes of promise, but nobody has nailed down the left-wing role since former captain Son Heung-min joined Los Angeles FC last summer.
Odobert and Simons are both recovering from anterior cruciate ligament (ACL) injuries, while Kudus missed the second half of the season with a groin issue and was unable to prove his fitness in time to make Ghana’s World Cup squad. Spurs need quality options to replace and then compete with those players when they are fully fit again.
Spurs struggled to consistently create high-quality chances this season. James Maddison’s return from an ACL injury partially solves this problem, but improving their options in central midfield is a priority.
Are there any specific players they are targeting?
If Romero leaves and Spurs decide they need an established right-sided centre-back to replace him, keep an eye on Brighton & Hove Albion’s Jan Paul van Hecke. The Netherlands international’s contract expires next year, and he previously worked with De Zerbi at Brighton.
Jan Paul van Hecke previously worked with Roberto De Zerbi at Brighton & Hove Albion (George Wood/Getty Images)
Over the last few years, Spurs have signed a lot of young players including Lucas Bergvall, Archie Gray, goalkeeper Antonin Kinsky and Odobert. Targeting Robertson, Senesi and Van Hecke reflects the feeling that the squad needs more experience and players in the prime of their careers.
Another player Spurs are interested in signing is Middlesbrough midfielder Hayden Hackney. The 23-year-old Championship Player of the Season only has 12 months left on his contract. Spurs, Crystal Palace and Manchester United like Hackney, but as my colleague David Ornstein reports, his preference is to join Everton.
Who will they be looking to sell?
Spurs have difficult decisions to make over three key players. Richarlison was their top goalscorer (11) in the league this season, but he has never looked like the right fit upfront. The 29-year-old only has 12 months left on his contract. Spurs need to tie the Brazilian down to a new deal or sell him.
Guglielmo Vicario has not played under De Zerbi yet due to a hernia injury and the impressive form of Kinsky. The latter is comfortable with the ball at his feet and made some superb saves to help Spurs stay up. De Zerbi has spoken positively about Vicario, but Kinsky deserves a chance to be No 1 at the start of next season.
The biggest question mark is around Romero. Tottenham’s captain signed a new contract last year, which runs until 2029. But he has been critical of the club’s hierarchy in social media posts on multiple occasions, and his form has been mixed. The Argentina international has only played more than 30 league games in a single season once for Spurs since he joined them in 2021 due to a combination of injuries and suspension. Sources inside the club acknowledge that there is a strong chance Romero could leave this summer, but it will be difficult to sign a quality replacement.
Radu Dragusin is another defender with an uncertain future. He prefers to play as a right-sided centre-back but is third-choice, behind Romero and Kevin Danso. The Romania international barely played last season, partially due to an ACL injury, and it might be best for his development to leave permanently or on loan.
Randal Kolo Muani will return to Paris Saint-Germain after an underwhelming loan spell. The Frenchman only scored one goal in 30 top-flight matches.
Joao Palhinha’s loan move from Bayern Munich contained an option to make the deal permanent for €30million ($35m; £26m). De Zerbi said he wants to keep the central midfielder “100 per cent”. Palhinha described his relationship with Spurs as “like a marriage”, adding “I would really like to be here, and I enjoy it a lot this season with this club, even being a tough season”. Spurs like Palhinha and are working towards a conclusion which suits all parties.
Ben Davies and Yves Bissouma’s contracts are due to expire at the end of the month. They both struggled for playing time this season. Davies made three appearances before suffering an ankle injury in January, which forced him to miss the rest of the campaign, while Bissouma only played 11 times in total.
Will anyone be earmarked for a loan away?
De Zerbi is a huge fan of Brazilian defender Souza who turns 20 later this month. Souza joined Spurs from Santos in January and made four appearances. The full-back’s game time could be limited by Udogie and Robertson next season, so the smartest option might be to send him on loan so he can play regularly.
Academy graduates Mikey Moore and Will Lankshear impressed on loan with Rangers and Oxford United, respectively. Ashley Phillips has spent the last two seasons with Stoke City. Spurs need to decide if the talented trio are ready to be fully integrated into the first-team squad or if it would be better to continue developing away from north London.
Roberto De Zerbi is a fan of Souza (Justin Setterfield/Getty Images)
What moves have they made already?
The Athletic reported last week that Spurs are set to sign Senesi on a four-year deal when his contract with Bournemouth expires. They are progressing with a deal to sign Robertson, who will be a free agent when his nine-year spell with Liverpool ends this month.
Spurs deserve credit for acting swiftly and learning their lessons from last summer, when the uncertainty over the future of then head coach Ange Postecoglou disrupted their plans and contributed to them missing out on key targets.
What sort of budget do they have and what is their SCR position?
Spurs have struggled to sell players over the last few years, and it is an issue which senior figures are keen to address. Although Spurs fans were frustrated by the departure of Brennan Johnson in January because he was not replaced, £35million represented a good fee for a fringe player. As previously mentioned, tough decisions will need to be made this summer around Romero, Vicario and Richarlison, but any money Spurs earn from potentially selling them can be reinvested in other areas of the squad.
They do not need to worry too much about financial rules, at least. Tottenham’s overall wages-to-revenue ratio was just 45 per cent in the 2024-25 season and has consistently been one of the lowest figures in the Premier League. Their overall wages and transfer fee amortisation to revenue ratio for the same period was 70 per cent combined. Under squad cost ratio (SCR) rules, you can remove the wages of non-playing staff and include player sale profits, so the actual figure would be even lower.
Spurs’ failure to qualify for Europe means they are only required to be at 85 per cent for SCR instead of UEFA’s limit of 70 per cent. Put it all together, and Spurs have no real regulatory worries, but then that’s been true for a while.
Instead, as previously detailed by The Athletic, Spurs’ recent concerns have been cash-based. Big operating costs (which are excluded from SCR calculations) and hefty transfer debts have seen the club’s liquidity tighten, and ENIC has been required to depart from the first 20 years of its ownership by starting to inject significant sums. Spurs’ transfer debt at the end of June 2025 was £243million, and a further £159m (net) was spent last summer, though the Johnson sale reduced that for the season.
Rules are little worry, but without recouping money on sales, Spurs would need to lean on extra funding to spend big — especially now the roughly £74million they made in Champions League prize money this season won’t be repeated.
