That's an extremely narrow interpretation of the wage bill. I think a more accurate way to look at things would be to take into account total transfer and wages outlay, including agent fees and bonuses paid. Just off the top of my head, Spurs spent £65m on Solanke, £40m on Archie Gray, £8.5m on Bergvall, £25m on Odobert, and £12.5m on this new goalkeeper they brought in a couple of weeks ago. They're also spending huge money on Werner's wages to have him on loan.
Meanwhile Liverpool brought in Chiesa for £10m and sold Fabio Carvalho for £20m, Bobby Clarks for £10m, and Van Den Berg for £20m. A bit hard to argue that Spurs are being cheap when Liverpool's revenue is only about 13% higher. Levy is spending money for sure, just on the wrong players.
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