De Zerbi gets his wish - the most expensive Italian arrives in London

Tottenham mean business this July. The transfer window has only just opened, yet the North London club have already signed six new players—and, for the second time in just a few days, they have broken their club-record transfer fee. It's exactly the kind of response supporters were hoping for after their side came dangerously close to relegation from the Premier League just six weeks ago. After unveiling Matheus Fernandes in the middle of last week, Tottenham have now added Sandro Tonali, who is set to partner the Portuguese midfielder in central midfield. The Italian international officially becomes the most expensive signing in Tottenham's history, as well as the most expensive Italian footballer ever transferred.

Spurs have agreed to pay Newcastle United 108 million euros upfront, with a further eight million in potential bonuses. That narrowly surpasses the 99 million euros they paid West Ham United for Matheus Fernandes and comfortably eclipses the 61.75 million Al Qadsiah spent on Mateo Retegui a year earlier, previously the highest fee ever paid for an Italian player. Former coach Ange Postecoglou recently said he wanted to sign Pedro Neto, Bryan Mbeumo, Antoine Semenyo, and Marc Guehi. All four ultimately joined Chelsea, Manchester United, or Manchester City. This time however, the script has changed. Not only have Tottenham landed Matheus Fernandes, a player who was also on Manchester United's shortlist, but they have also convinced Tonali—who had attracted interest from both Manchester City and Arsenal—to join despite the club not playing European football next season.

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Several factors helped make the deal happen. Tonali will reunite with fellow Italian Roberto De Zerbi, who strongly pushed for his signing, while the player himself was keen to swap England's northeast for London. Above all, though, finances played a decisive role. According to The Telegraph, Tottenham have made Tonali the highest-paid player at the club, offering him a weekly salary of around 350,000 euros, worth just under 17 million per year. In England, the transfer is widely being described as a genuine statement signing, sending a clear message that the club's owners intend to restore Tottenham to the top tier of English football after consecutive 17th-place finishes in the Premier League.

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To ensure that disappointing trend does not continue, Spurs have already brought in six new arrivals, most of them handpicked by De Zerbi. Before signing Tonali and Fernandes, Tottenham had already recruited centre-back Jan Paul van Hecke, whom De Zerbi previously coached at Brighton, as well as Andrew Robertson, Marcos Senesi, and veteran goalkeeper Martin Dubravka. The total outlay has now reached 267 million euros. Many may wonder how Tottenham have been able to finance such an ambitious rebuild after two disappointing seasons. According to The Athletic, the club's owners, ENIC, led by the Lewis family, recently injected an additional 100 million pounds in cash to fund the squad overhaul. Despite the enormous spending, Tottenham remain well within the Premier League's financial sustainability rules thanks to one of the league's lowest wage-to-revenue ratios. With no European football this season, the club also has considerable room under the Premier League's new 85% squad-cost ratio.

However, because the long-term objective is a swift return to the UEFA Champions League, Tottenham cannot ignore UEFA's financial regulations. The club recently posted operating losses and has slipped into the red financially, making careful management essential despite the current spending spree. Part of the funding has also come from player sales. Tottenham were forced to part ways with one of the world's brightest young defensive prospects, Luka Vušković, whose move to Brighton & Hove Albion is expected to generate just under 60 million euros. The Croatian defender still needs time to fully develop, and Tottenham have clearly decided that immediate results take priority over long-term potential.

Tonali joined Newcastle from AC Milan in July 2023 for around 67 million euros. Three months later, he received a 10-month suspension after the Italian Football Federation found him guilty of breaching betting regulations. Since returning in August 2024, he has made 110 appearances for Newcastle, scoring 10 goals and providing 10 assists. At Tottenham, he joins a midfield that already includes Conor Gallagher, Rodrigo Bentancur, Pape Matar Sarr, Archie Gray, and Lucas Bergvall, although the latter has reportedly informed the club that he wants to leave and is among the candidates to replace Elliot Anderson at Nottingham Forest.