Levy discusses Tottenham's transfer plans and naming rights of their new stadium

Tottenham Hotspur chairman Daniel Levy has been talking about the club's transfer problems and the new stadium, particularly the naming rights and those Nike rumours.

On Tuesday representatives of the Tottenham Hotspur Supporters' Trust board met with representatives of the Spurs Executive Board and senior club staff for a scheduled 'Board to Board' meeting.

The minutes of that meeting have now been published.

Levy was asked what ENIC's strategy and vision for the next five years was.

The notes from the meeting state: "Daniel Levy started by going back to 2001, when the priority was to invest in the first team and become a European Club. That had been achieved.

"The strategy was to build the organic way, to produce their own players. It isn't sustainable to spend more money than you earn in the long run, so ENIC invested in the training facilities and then in the stadium project, which started 18 years ago when the first pieces of land were acquired.

"The stadium has been a huge undertaking which shouldn't be underestimated. It's been a very stressful time for everyone involved and the staff have worked incredibly hard. The next aim is to get the stadium open and get it running effectively. The foundations are there for Spurs to be one of the biggest clubs in the world.

"The easy way to success is to spend big money on players. The harder way is to lay foundations. In DL's view, that is fundamental to a sustainable football club The ambition is to make Spurs regular Champions league contenders. He wants Spurs to compete at the highest possible level without jeopardising the club."

The chairman was asked for an update on naming rights at the club's new 62,062-seater stadium and Levy said "none were in place as yet. The club had never been in talks with Nike. Sponsoring stadiums is not what Nike do as a business."

Levy added that remaining at Wembley had cost the club money "on account of the high rent and running staff at two stadiums".

The topic of the meeting turned to transfers and the plans for Tottenham remaining competitive on the field. The Spurs chairman was asked whether the amount available for transfers was shrinking given the stadium outlay.

"Daniel Levy said no. The fact that stadium costs had risen does not impact that number," read the minutes. "Levy said that with a debt of £637m, subject to reasonable assumption on interest rates, the net spend on players would not be affected.

"He continued that Champions League qualification gave more flexibility. There is a certain amount the club wants to invest in the team. If players are sold, that amount increases."

The Spurs supremo was then asked that if money wasn't the issue what had prevented the club from signing any players in the past two transfer windows.

"Daniel Levy said that transfers were tricky. If we could have sold XYZ and found someone better, we would have done it. He said he was disappointed that the market was not as liquid as it had been previously," stated the minutes.

"He also stressed the requirement for Tottenham's squad to include more homegrown players. There were squad limits and we had reached the maximum for overseas players.

"Daniel Levy said that Mauricio Pochettino wants to win all four competitions but the Premier League and Champions League are the main competitions you're judged on."