Tottenham revenues soar due to Champions League
Thursday 31 March 2011
The importance of Tottenham qualifying for next year's Champions League was underlined today by financial results that showed the club's revenue increased 49 per cent during the six months that followed their qualification to this season's competition.
Spurs' interim results from June 30 to December 31, 2010 showed that the club's first ever qualification for the competition in its present guise saw their revenue increase to £79.8million compared to the £53.3million they recorded at the same stage last year.
In total, the club posted a profit of £4.2million compared to the £6.1million loss they made during the same period in 2009.
Spurs' operating costs rose from £48.6million to £61.5million for the last six months of 2010 - an increase of 25%, with some of that money going on new signings and contract renewals.
Tottenham boss Harry Redknapp signed Rafael van der Vaart, William Gallas, Sandro and Stipe Pletikosa last summer, with Adel Taarabt the only notable departure from White Hart Lane.
Luka Modric, Kyle Walker and Benoit Assou-Ekotto also signed new deals as well as eight members of the development squad.
Among the other good news out of the financial report is that Champions League qualification has seen merchandise sales increase by 22% and sponsorship and corporate hospitality revenue grew from £12.7million to £16million.
Tottenham chairman Daniel Levy said: "Our first-half figures reflect a strong performance, buoyed by the contribution from our participation in the UEFA Champions League.
"Our investment over the years in the first team has produced our recent successes.
"Our challenge going forward will be to continue our success on the pitch, to create and produce greater revenue streams and to invest prudently in capital growth projects, alongside controlling our operating expenses."
Tottenham were unable to offload a number of their players during the January transfer window and instead had to resort to sending them out on loan.
Levy hopes the club can generate some cash by selling a number of their squad players this summer.
"Whilst this large squad eased our progress in the Champions League, we shall continue to look to streamline our squad where appropriate." he added.
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