Tottenham post record turnover and increased operating profits
Thu 11th Nov 2010 | Money & Finance
Tottenham Hotspur Football Club's financial results for the year ending 30 June, 2010 have been released to the Stock Exchange this morning.
The figures show record group turnover for the year at £119.8m, and a 23% increase in operating profit of £22.7m on the previous year.
The club’s accounts revealed that Premier League gate receipts had risen to £20.1m (2009: £19.8m) with White Hart Lane sold out for all Premier League home games and that demand for season tickets was stronger than ever, with their Season Ticket Waiting List standing at 33,000 registered and paid-up members.
Media and broadcasting revenues also increased by 15% to £51.5m (2009: £44.8m) a gain largely attributable to a higher merit fee award based on the club’s final league position of fourth compared to eighth the previous season and a rise in the number of times the club featured in live televised games.
However, they did reveal that sponsorship and corporate hospitality income fell to £25.8m (2009: £27.4m), a reflection of not having the well-attended mid-week European games that have proved popular with corporate fans, as well as prevailing difficult economic conditions.
Commenting on the figures Chairman, Daniel Levy said:
“This period has seen the Club produce a record turnover and a 23% increase in operating profit.
“We are benefiting now from our investment to date in the First Team squad. Our challenge is to accrue further benefits from our investment in capital projects in order to lay the strongest foundations for the future stability and prosperity of the Club.”
“I would like to commend everyone at the Club for their continued hard work and thank our supporters for their magnificent support both home and away throughout the season.”
For the Chairman's statement and financial results in full, follow this link...(pdf)...
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