Football finance expert, Stefan Borson, who has been outspoken about Tottenham’s financial model, has revealed what the club desperately need to achieve to improve their balance sheet.Contrary to popular perception, Tottenham have been splashing the cash in a major way since they moved into their new stadium in 2019.In fact, Spurs have the fourth-highest net spend across Europe over the last decade, but that investment has not yielded much success.The Lilywhites splashed the cash again this summer, and they will be desperately hoping that their big investments bear fruit under Roberto De Zerbi.IncomingsAndrew RobertsonFreeMarcos SenesiFreeMartin DubravkaFreeJan Paul van Hecke£52mMateus Fernandes£85mSandro Tonali£100mSavinho£85mOmar Marmoush£60mTosin Adarabioyo£12mMykhailo MudrykLoanTotal spent£394mOutgoingsLuka Vuskovic£50mWill Lankshear£20mRadu Dragusin£21mAlejo Veliz£7.7mAlfie Devine£6mTynan Thompson£8mManor Solomon£7mCristian Romero£34.1mAshley Phillips£20mDjed Spence£30mKevin Danso£25mPape Matar Sarr£25.6mTotal received£254.8mTottenham’s net spend£139.2mCredit: @thatfootballphotog / InstagramStefan Borson says European qualification is crucial for TottenhamThere has been a lot made of the revenue-generating potential of Tottenham Hotspur Stadium, and the additional stream of income the club have as a result of hosting NFL, other sporting events and concerts at the venue.Just a couple of days ago, Borson said that the revenue Spurs earn from the NFL is overstated considerably, and the financial expert has now revealed what really counts.He claimed that Tottenham need to get back to regularly qualifying for Europe in order to improve the strength of their balance sheet.When asked about the additional revenue generated by other events at Spurs’ stadium, Borson told Football Insider: “I think it’s a rounding error overall in perceiving Spurs’ financial strength. I don’t think it’s the core. The core is about getting back into Europe, about getting up the league table so that you’re getting merit awards that are closer to what they were two or three years ago.“Those are the most important things, rather than this obsession with events, which is more about the management team maximising its infrastructure as opposed to anything that’s going to move the dial for the football club. Compare that to European Football, Champions League, and £3 million a place in the Premier League.”Roberto De Zerbi is under pressure after Vinai Venkatesham’s warningIn the meeting with the Fan Advisory board last month, the Tottenham CEO pointed out that the club have not registered an operating profit since 2019.Vina Venkatesham also shared that the Premier League’s financial regulations constrained Spurs’ spending in the recent transfer window.Given the amount the club have spent on transfer fees and how their wage bill has grown over recent months, the Lilywhites will ideally want to be back in Europe next season.Despite all the talk of a long-term project, De Zerbi is under pressure to get the club into the top six this season.READ MORE: Dejan Kulusevski is back: De Zerbi to name Tottenham star on bench after 500+ days outThe post Tottenham’s extra revenue from non-football events is just ‘a rounding error’ – Finance expert appeared first on Spurs Web.