Tottenham Hotspur has posted record revenues of £306.3m for the year ending 30 June 2017.
The figures show a rise of £96.5m compared to 2016 (£209.8m) despite Premier League gate receipts falling to £19.0m (2016: £22.2m) due the demolition of the North-East corner of White Hart Lane in preparation for the building of their new 62,000 seat stadium.
Spurs’ participation in the group stages of the UEFA Champions League and the round of 32 of the UEFA Europa League (2016: round of 16 of UEFA Europa League) resulted in gate receipts and prize money of £44.6m (2016: £18.7m).
Revenue from the domestic cup competitions earned the club £5.0m (2016: £2.4m) whilst earnings from television and media rose to £149.8m (2016: £94.8m), due to the commencement of a new three-year Premier League broadcasting deal and a record second place league finish (2016: third).
Sponsorship and corporate hospitality revenue also saw improvements earning £54.7m (2016: £48.8m) and merchandising revenue was up £14.0m (2016: £12.0m).
Profit from operations, excluding football trading and before exceptional items and depreciation, was £117.6m (2016: £63.3m). Profit for the year after interest and tax was £41.2m (2016: £33.0m).
The Group has continued to invest significantly in construction work, professional fees and enabling works relating to the Northumberland Development Project (NDP) with the cumulative spend increasing from £115.3m to £315.1m during the period.
Group net assets are £227.2m (2016: £206.1m) whilst the Group has cash, net of all borrowing of £14.6m (2016: £47.6m).
Speaking of the results, Chairman, Daniel Levy, said: “Extraordinary levels of financial and human resource have seen significant progress on capital projects, with schemes underway at both the new stadium site and our Training Centre.
“As custodians of the Club we are ever-conscious of the need to ensure the future stability of the Club whilst managing its growth.
“We are in an historic period for the Club and there is a growing sense of excitement. There will, however, be many challenges in the coming months as we near the latter stages of the construction of the new stadium and its opening.
“The drive and determination to deliver our best across all areas of the Club, together with the unity and support of all involved, will, I believe, see us meet those challenges.”
Image: PA Images
