Tottenham spending eclipses big four
Tottenham's latest financial results have revealed transfer spending of almost £150m in the last 16 months, surpassing the traditional Barclays Premier League top four and coming second only to Manchester City.
Spurs announced record pre-tax profits in the year ending June 2009, helped by the sale of Dimitar Berbatov to Manchester United and Robbie Keane to Liverpool, although both those heavyweights appear conservative in their transfer spending compared to the club currently fourth in the Barclays Premier League.
Chelsea and Arsenal have also been prudent during the same period, while Spurs have needed to reshape their squad following the departure of Juande Ramos and appointment of Harry Redknapp as manager.
Spurs spent £119.3million in the financial year, with another £29.4million invested since on Peter Crouch, Sebastien Bassong, Niko Kranjcar, Kyle Naughton and Kyle Walker, their results confirmed.
Chairman Daniel Levy, who has also overseen projects on a new training ground and stadium, said: "We have made significant progress in delivering on our long-term vision for the club.
"We have always had three key priorities and you will have heard them oft repeated - investment in the first team, a new training centre and an increased capacity, state-of-the-art new stadium.
"We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League, the ground is being turned and pitches laid for the new training centre at Bulls Cross in Enfield and we have submitted a planning application for a stunning new stadium on a site next to our existing stadium."
Spurs' pre-tax profits was £33.4million, with the departure of Berbatov valued at £23.4million, although it is understood there are clauses that could see that figure rise if activated.
The figures also estimate the club having total assets of "almost £300million". Should Spurs maintain their current league position and qualify for the Champions League, the overall value of the club would be expected to rise.
Midfielder Kranjcar believes finishing in the top four is a genuine possibility, with the Croatia international telling Sky Sports News: "This year our goal is getting into the Champions League. It's a massive goal but we think it can be achieved.
"We believe we have the depth and quality, and hopefully we will do it."
Meanwhile, Levy revealed the club are in talks regarding a new shirt sponsorship contract from next season, with the deal with Mansion due to expire at the end of the current campaign.
"Our search for a new shirt sponsor to replace Mansion is well under way," he said. "Our commercial team is talking to companies in different corners of the world regarding the shirt sponsorship along with the opportunity to sponsor our proposed new stadium."
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