Spurs announce record profits

Published Add your comment

Football News

Tottenham will be exploring various avenues to finance their new stadium, financial figures have revealed.

Spurs announced record pre-tax profits of £39.8million in their interim results for the final six months of last year and also explained decisions remain to be made on how to finance the Northumberland Development Project, their proposals for a new ground on the site of White Hart Lane.

"As we continue to assess the contributions to the scheme we obtain more clarity on the funding gap which will have to be financed," Spurs chairman Daniel Levy said in a statement.

Naming rights for the new stadium is one source of revenue, as is the possibility of issuing more shares.

Spurs' results showed an increase in revenue, record profit from operations and total assets that value the club close to £300million.

Selling Dimitar Berbatov and Robbie Keane in the summer accounted for the dramatic increase in profits, although the figures are expected to be balanced out with the next results as Spurs bought back Keane in January and also signed Jermain Defoe, Wilson Palacios and Pascal Chimbonda.

Defoe and Chimbonda, like Keane, had left Spurs less than a year before rejoining.

"It reflects well on the club that these players chose to return to us," Levy said.

He added: "During the 2008 summer transfer window, gains were made on the sales of a large number of registrations.

"However it needs to be noted that the club did not make the player trading profits in a manner that was planned or welcomed as they arose, in the main, from the regrettable sale of certain key players."

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Tottenham Hotspur
Robbie Keane
Dimitar Berbatov
Premier League
Jermain Defoe
Wilson Palacios
Pascal Chimbonda

Article Comments

Read more

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again