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Tottenham Hotspur announce record revenues

Wed 16th Nov 2011 | Money & Finance

Tottenham Hotspur have announced record revenues of £163.5m for the year ending 30 June 2011, up more than £43m for the same period the previous year (2010 £119.8m).

The increased turnover was largely the result of the Club’s participation in the UEFA Champions League, reaching the knock-out quarter-final stages.

Benefitting from UEFA Champions League gate receipts and prize money of £37.1m the club also saw FAPL gate receipts increase to £20.4m (2010: £20.1m) on capacity home attendances.

Media and broadcasting revenues increased 5 per cent to £54.0m with sponsorship and corporate hospitality income increasing by 24% to £31.8m (2010: £25.8m) with Autonomy as new FAPL shirt sponsor and Investec as new shirt sponsor for Cup competitions.

Merchandising income rose by 23% to £9.6m (2010: £7.8m) aided by the UEFA Champions League campaign and a strong product mix

However, the club’s operating expenses increased 35 per cent to £131.2m (2010: £97.1m), due in the main to the costs associated with a large squad size playing in both domestic and European competitions and a total of 53 games played (2010: 50)

Operating profit before football trading and amortisation, which is one of the key performance indicators of how a club is performing as a cash-generating business, increased by 42 per cent to £32.3m (2010: £22.7m).

Daniel Levy, Chairman of Tottenham Hotspur plc, said: "Ten years ago we set out to create a First Team squad that could compete for the highest honours both domestically and in Europe, to deliver a new Training Centre and an increased capacity stadium. I am delighted to report on the substantial progress we have made in all these areas."

In a separate announcement the club also confirmed that they were to de-list from the stock exchange.

Commenting on the announcement Levy said, "It is clear to us that increasing the capacity of the Club’s stadium is a key factor in the continued development and success of the Club and will involve the Company in considerable additional capital expenditure.

“Given this requirement, we believe that the AIM listing restricts our ability to secure funding for its future development. We are ambitious for the Club and have always taken the steps that we believe to be in its best interests." 

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