Tottenham Announces Record Revenues

Tottenham Announces Record Revenues

Tottenham Hotspur has posted record revenues of £209.8m for the year ending 30 June 2016, an increase of 7% on the prior year (2015: £196.4m), reports www.fcbusiness.co.uk
The increase was driven primarily by the club reaching the round of 16 in the UEFA Europa League resulting in gate receipts and prize money of £18.7m up from £7.1m in 2015.
Television and media revenues rose to £94.8m (2015: £90.5m), after recording their best season in the Premier League, finishing third.
Premier League gate receipts were £22.2m (2015: £22.3m), whilst revenue from the domestic cup competitions was £2.4m, down from £4.4m in 2015.
Sponsorship and corporate hospitality revenue remained stable at £48.8m, with merchandising revenue slightly down at £12.0m (2015: £12.3m). However, this represents a like-for-like increase of 8% as early kit launch sales were recognised in 2014/15 figures.
Profit from operations, excluding football trading and before exceptional items and depreciation, was up to £63.3m (2015: £46.7m). Profit for the year after interest and tax was £33.0m (2015: £9.4m).
The club had net cash at the year-end of £47.6m (2015: net debt of £20.8m) and net assets were £206.1m (2015: £183.0m). At the year-end the Club’s net investment in fixed assets was £288.0m (2015: £217.9m).
Speaking of the results, Chairman, Daniel Levy, said: “This financial period saw record revenues and the Club’s highest placed finish in the Premier League.
“There was also substantial progress on capital projects with schemes underway at both the new stadium site and our training centre.
“We have run this club on a financially secure basis for the past 16 years, whilst remaining ambitious and with a vision for its future growth and success.
“We continue to focus on ensuring that the future of the club is protected at all times and therefore, whilst everyone is eager to know if this is our last season at the lane, we shall only make the decision to decommission our historic White Hart Lane when we have greater certainty on the delivery of the new stadium.

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