VSI
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Lack of Champions League Football Leaves Tottenham's Profits Down

Wed 23rd Jan 2013 | Money & Finance

Tottenham Hotspur have posted a profit of £23m, for the year ending 30 June 2012.

But Spurs’ failure to qualify for the Champions League meant a £15m drop in profits on the previous year (2011: £38m) with total club revenues of £144m, 12% lower than the prior year (2011: £163m).

Despite this, revenues continued to increase on the commercial front with media revenues increasing 10% and Sponsorship and Corporate Hospitality also increasing 10%. Merchandising was 4% lower largely due to the lack of Champions League participation, but the focus on cost control ensured that operating costs were also lower, down 1% on the prior year.

Spurs also made an operating loss after football trading of £1.6m (2011: Profit £1.4m) and a loss for the year after interest and tax of £4.3m (2011: Profit £0.7m).

In a Shareholder update, Chairman, Daniel Levy reiterated the club’s long term aim of moving to a new stadium to address the limitations placed on match day income by the current stadium. With Phase 1 of the Northumberland Development Project now underway, Levy commented: "We are ever ambitious for the club, driving all areas of the business and our focus continues to be the delivery of an increased capacity stadium.

“There is much work to be done refining the detailed design and resolving the final development issues.”

Tottenham opened and moved into its new 77 acre Training Centre in July 2012, a facility that has attracted many accolades.

Levy remained confident that the new stadium would match the standards set at the training facility, adding: “We intend to deliver this to the same high standards of the new Training Centre and to reward our incredibly loyal supporters with a world class stadium and one that will have made a crucial contribution to the regeneration of a priority borough in London."

Posted by: Aaron Gourley

Subscribe to our newsletter

 

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Chancellor Misses Rate-Relief Open Goal In Budget

Thu 9th Mar 2017 | Money & Finance

Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...

Leicester City make pre-tax profit of 16.4m after winning Premier League

Thu 2nd Mar 2017 | Money & Finance

Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...

Liverpool FC announces financial results for year to May 2016

Wed 1st Mar 2017 | Money & Finance

Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...

Wolverhampton Wanderers Post 5m Profit

Tue 28th Feb 2017 | Money & Finance

Wolverhampton Wanderers have posted a profit of over £5m in their latest accounts. The club’s headline financial information shows a pre-tax profit of £5.831m for the year ending 31...