Tottenham Hotspur have announced a good set of financial results. Turnover was up to not far short of £150m. Profit excluding player trading and before depreciation was £23.4m. After taking account of interest and tax, profit was £1.5m which is a respectable figure when many clubs are making big losses.
Tottenham Hotspur have announced a good set of financial results. Turnover was up to not far short of £150m. Profit excluding player trading and before depreciation was £23.4m. After taking account of interest and tax, profit was £1.5m which is a respectable figure when many clubs are making big losses.
Sponsorship and corporate hospitality earnings were up by six per cent and merchandise by five per cent. These are encouraging figures, but will need to be built on if the club is to close the gap with the top four clubs.
The key to the club’s future financial and commercial success is the completion of the stadium development project. With a capacity of 36,000, White Hart Lane is the smallest stadium of any of the top twenty clubs in Europe.
The club has 47,000 names on its season ticket waiting list. The new stadium, to be built next to White Hart Lane, will have a capacity of 58,000 and the club hopes to move in by the middle of 2017, although slippage is always possible in big construction projects. The move of West Ham to the Olympic Stadium, and its need to engage in more marketing to fill the stadium, gives an impetus to the completion of the stadium project.