Tottenham have announced record revenues of £306.3m for the year ending June 30, 2017 as the EPL side continues to rise among the elite English teams.
By SportBrief Reporter
Tottenham have announced record revenues of £306.3m for the year ending June 30, 2017. That is an increase of £96.5m (46 per cent) from the previous year’s total of £209.8m.
A large part of that revenue increase is down to a jump in television and media revenues. The commencement of a new three-year Premier League broadcasting deal helped Spurs earn £149.8m, up £54.93m (57.9 per cent) from the previous year’s total of £94.87m.
Spurs also experienced a large increase in profit from operations, excluding football trading and before exceptional items and depreciation, which rose by £54.3m to £117.6m. That was an increase of 85.78 per cent on the previous year’s total of £63.3m
Participation in the group stages of the UEFA Champions League and the round of 32 of the UEFA Europa League, resulting in European gate receipts and prize money of £44.6m – up from £18.7m the previous year.
Profits for the year after interest and tax is £41.2m, up from £33m in 2016, while the club’s net assets rose to £227.2m from £206.1m in 2016.
“We are in an historic period for the club and there is a growing sense of excitement.”
Tottenham chairman Daniel Levy says the club is at an exciting point in its history with the construction of its new stadium nearing completion.
“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,” Levy said.
“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.”