World-record profit: Spurs cruise ahead of Liverpool
4 April 2019
Tottenham reveal new world-record profit months after Liverpool took the record.
Daniel Levy has taken the club’s financial results to a new level.
Levy now says club must win things – Pochettino told press conference that next transfer window is going to be massive.
Once again Tottenham Hotspur are celebrating.
On Wednesday evening they played their first official match at their new, impressive more than 62,000-seater stadium, beating Crystal Palace 2-0, having Thursday morning released their annual report ending 30 June 2018.
And that annual report showed such impressive growth and such a big profit that Daniel Levy and major shareholder Joe Lewis, at least, are bound to be celebrating.
Tottenham reveal a world-record profit before tax of £138.9 million, thereby overtaking the previous set record by Liverpool in February of £125 million. It should be noted that Liverpool's accounts included the sale of Coutinho to FC Barcelona and a £70 million payment for reaching the Champions League-final.
Big driver is moving from White Hart Lane
Spurs might not have won anything since beating Chelsea in the League Cup in 2008, but off the pitch the annual reports are proof of a club moving forward in great leaps.
The revenue is up almost 23 per cent at £380 million. Looking back five years, the subsequent growth in revenue has been no less than 110 percent. Very few established companies are growing at such a pace.
The big driver is obviously the club moving from the old White Hart Lane ground, where capacity was only 36,000, to playing at Wembley with an average crowd of almost 68,500 watching. That development gave the club extra revenue of £23.6 million.
Also significant is the big growth in sponsorship and corporate hospitality which grew 54 per cent to £95.5 million. Broadcasting income actually declined a bit, but revenue from participating in the Champions League gave further growth of 39.4 percent to £62.2 million.
Massive summer transfer window
In other words, the massive rise in revenue at the club has been generated from certain areas of the business – some of which are also directly related to on-the-pitch activity.
The club is currently 4th in the table, fighting hard to regain a slot in next year’s Champions League. Both Manchester United and Chelsea are chasing the North-London club, who will play the first leg against Manchester City in the quarter final of the Champions League next week.
Looking ahead, with the record financial result in mind, some might have noticed that on Tuesday at a press press conference Spurs manager Mauricio Pochettino said that for him, the summer transfer window as going to be “massive”.
“To be close to the big clubs, you must think the way that the big clubs think. If you want to compare to Barcelona, Bayern Munich, Juventus or Real Madrid, you can’t think you are Tottenham with 36,000. We need to think like a big club and that is the most important step that we need to make … What does it mean to think like a big club? That is what we have to discuss about the project,” Pochettino said, according to The Telegraph.
Levy last month reassured Tottenham’s Supporters’ Trust that the new stadium will not impact on the club’s summer transfer budget.