Tottenham’s transfer budget is now locked in following their failure to qualify for next season’s Champions League.

As well as dealing a devastating blow to North London rivals Arsenal’s title hopes, Spurs’ 2-0 defeat to Man City on Tuesday meant that they are set to finish outside the top four for a second season in a row.

Ange Postecoglou‘s side will likely play in the Europa League in 2024-25, barring a defeat to Sheffield United coupled with a Chelsea win over Bournemouth on the final day.

The manager was livid with what he perceives to be cultural problems at the club in the wake of the City defeat, and he will hope new signings in the summer can go some way to addressing the issues.

Speaking on the Inside Track Podcast, transfer journalist Pete O’Rourke claimed that Spurs are looking to bring in at least four players in the coming months, with a focus on the back four.

Postecoglou will now have to operate within a tighter budget, however.

Reports earlier this year claimed that Daniel Levy had drawn up two parallel transfer budgets, one for finishing in the top four and one for without.

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How much will no Champions League football cost Spurs?

With 2024-25 being the first season of a controversial but lucrative new expanded format in the Champions League, Postecoglou is set to discover that missing out could hit Spurs to the tune of £70m.

That figure is based on a benchmark of last season’s distribution data and is made up of a participation fee, prize money, UEFA coefficient pay-out and TV pool cash.

Those monies would also have been supplemented by enhanced sponsorship opportunities, as well as the ability to charge higher matchday and hospitality prices on European nights.

Analysis: Postegoclou’s budget for next season

Levy and the rest of the ENIC hierarchy’s ambition has often been called into doubt, but Spurs from a financial point of view are the best run elite club in the Premier League.

Their turnover exceeded £500m for the first time in their last set of accounts and they arguably have more headroom than any other side when it comes to FFP (now called Profit and Sustainability, or PSR).

The Premier League are set to introduce a new squad cost control system as well as financial anchoring from next season, both of which favour clubs whose business model is one of self sufficiency.

Even with a major shortfall from no Champions League cash, Spurs can afford to spend big this summer without coming close to flouting financial rules. A £100m-plus outlay is more than possible.

However, the North Londoners will need to be careful to adjust their spending over the course of the next PSR assessment window if they fail to qualify for Europe again next term.