Antonio Conte reportedly demanded a transfer budget of £100m during negotiations with Spurs over their managerial vacancy.
It had looked likely that Conte would join Tottenham after leaving Inter Milan with one report on Thursday claiming Spurs were increasingly confident of appointing the former Chelsea boss.
However, talks collapsed yesterday after ‘concerns from both parties’ caused negotiations to stall, with Conte uncertain about the club’s vision and budget.
The Times said that three particular reasons caused Tottenham to end talks: ‘concerns over his demands to strengthen the squad, his perceived reluctance to work with young players, and the size of his backroom staff’.
The Daily Mirror claimed on Friday that Conte had been assured by Spurs chairman Daniel Levy that he would have significant transfer funds to spend in the summer transfer market.
However, The Sun now reckons that ‘Levy pulled the plug’ on a deal for Conte after his ‘unrealistic demands could have sent the club into financial meltdown’.
The ‘advanced negotiations broke down due to what Levy felt were excessive and potentially catastrophic financial demands from the Italian.’
The report adds that as well as ‘a whopping £15million-a-year salary, Conte wanted a huge war chest — believed to be in excess of £100m — for new signings.’
Tottenham’s financial commitments towards their new stadium, coupled with the economic impact of the pandemic, means that they weren’t able to promise Conte the funds he wanted.
A source at the Premier League club told The Sun: “As soon as Conte became available, we had a duty to speak with him. He is a fine coach with an excellent record.
“But Daniel felt his budgetary demands were not only unrealistic but also potentially damaging to our future.
“Daniel wants us to be successful more than anyone but not at the expense of the club itself.
“He knows any new manager is going to need money to improve the squad and he is certain to provide them with that.
“But there has to be a balance and it cannot leave the club in a perilous situation.”