Tottenham End Financial Year With Record Revenues
Thu 30th Mar 2017 | Money & Finance
Tottenham Hotspur has posted record revenues of £209.8m for the year ending 30 June 2016, an increase of 7% on the prior year (2015: £196.4m).
The increase was driven primarily by the club reaching the round of 16 in the UEFA Europa League resulting in gate receipts and prize money of £18.7m up from £7.1m in 2015.
Television and media revenues rose to £94.8m (2015: £90.5m), after recording their best season in the Premier League, finishing third.
Premier League gate receipts were £22.2m (2015: £22.3m), whilst revenue from the domestic cup competitions was £2.4m, down from £4.4m in 2015.
Sponsorship and corporate hospitality revenue remained stable at £48.8m, with merchandising revenue slightly down at £12.0m (2015: £12.3m). However, this represents a like-for-like increase of 8% as early kit launch sales were recognised in 2014/15 figures.
Profit from operations, excluding football trading and before exceptional items and depreciation, was up to £63.3m (2015: £46.7m). Profit for the year after interest and tax was £33.0m (2015: £9.4m).
The Club had net cash at the year-end of £47.6m (2015: net debt of £20.8m) and net assets were £206.1m (2015: £183.0m). At the year-end the Club’s net investment in fixed assets was £288.0m (2015: £217.9m)
Speaking of the results, Chairman, Daniel Levy, said: "This financial period saw record revenues and the Club's highest placed finish in the Premier League.
"There was also substantial progress on capital projects with schemes underway at both the new stadium site and our Training Centre.
“We have run this Club on a financially secure basis for the past 16 years, whilst remaining ambitious and with a vision for its future growth and success.
“We continue to focus on ensuring that the future of the Club is protected at all times and therefore, whilst everyone is eager to know if this is our last season at the Lane, we shall only make the decision to decommission our historic White Hart Lane when we have greater certainty on the delivery of the new stadium.
“Our performances on the pitch and the sight of our new stadium taking shape signifies an exciting future.
“As we move forward with the challenges ahead, I firmly believe that the positive outlook, unity and togetherness across the Club, the team and the fans means we can look forward with optimism."
Northumberland Development Project (NDP) Update
The stadium build has now reached Level 6; the NFL has engaged in the design of its dedicated areas; the groundworks for the Tottenham Experience Museum and Retail store are underway along with restoration works to Percy House, the future High Road home for the Tottenham Hotspur Foundation.
The progress of the construction programme and the delivery timetable for the new stadium and associated public sector infrastructure works – both of which are paramount before any decision will be made on the decommissioning of White Hart Lane – are being closely monitored.
The stadium project continues to drive benefits to the local area delivering more than 900 jobs across many different sectors of employment.
The Training Centre
Construction is well under way on the player accommodation facility for the First Team and Academy, scheduled for opening in early 2018. When complete, this 46-bedroom facility will deliver an unparalleled environment for player rest and rehabilitation, further enhancing what is widely recognised as one of the best Training Centres in Europe.
Posted by: Aaron Gourley
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