Digital Look

Tottenham Hotspur down at half-time

By John Harrington

Date: Friday 28 Mar 2008

Premiership football club Tottenham Hotspur slipped into loss at the interim stage as profits on player sales dipped and the club had to stump up to change the team management.

Revenue in the six months to 31 December 2007 grew to £54.5m from £47.8m in the previous year, largely as a result of a 63% increase in media and broadcasting revenues to £17.8m.

Merchandising income rose for the second successive year and sponsorship income also rose, though gate receipts and income from corporate hospitality declined due to one less Premiership match being played in the reporting period than in the second half of 2006.

Operating expenses ballooned to £44.6m from £33.6m, reflecting an increased playing staff and a change in management of the side.

Profit before football trading and amortisation dipped to £10m from £14.1m. Profits on disposal of intangible assets tumbled to £4.3m from £15m in the second half of 2006 when receipts were boosted by the transfer of Michael Carrick to Manchester United.

Loss before tax was £26,000, compared with a profit of £19.8m a year earlier.

The club’s financial position has strengthened, as witnessed by its rise from 15th to 11th place among Europe’s football clubs in the Deloitte Football Money League. Tottenham Hotspur occupies the highest ranking of any club not involved in the UEFA Champions league, chairman Daniel Levy observed.

The company has finally secured local council approval for its new training facility at Bull’s Cross, Enfield, but the company is not yet in a position to announce a timetable for completion of the project.

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks: