Champs League boosts Spurs’ books

Spurs’ interim results from June 30 to December 31, 2010 showed

that the club’s first ever qualification for the competition in its

present guise saw their revenue increase to £79.8million

compared to the £53.3million they recorded at the same stage

last year. In total, the club posted a profit of £4.2million

compared to the £6.1million loss they made during the same

period in 2009. Spurs’ operating costs rose from £48.6million

to £61.5million for the last six months of 2010 – an increase

of 25%, with some of that money going on new signings and contract

renewals. Tottenham boss Harry Redknapp signed Rafael van der

Vaart, William Gallas, Sandro and Stipe Pletikosa last summer, with

Adel Taarabt the only notable departure from White Hart Lane. Luka

Modric, Kyle Walker and Benoit Assou-Ekotto also signed new deals

as well as eight members of the development squad. Among the other

good news out of the financial report is that Champions League

qualification has seen merchandise sales increase by 22% and

sponsorship and corporate hospitality revenue grew from

£12.7million to £16million. Tottenham chairman Daniel

Levy said: “Our first-half figures reflect a strong performance,

buoyed by the contribution from our participation in the UEFA

Champions League. “Our investment over the years in the first team

has produced our recent successes. “Our challenge going forward

will be to continue our success on the pitch, to create and produce

greater revenue streams and to invest prudently in capital growth

projects, alongside controlling our operating expenses.” Tottenham

were unable to offload a number of their players during the January

transfer window and instead had to resort to sending them out on

loan. Levy hopes the club can generate some cash by selling a

number of their squad players this summer. “Whilst this large squad

eased our progress in the Champions League, we shall continue to

look to streamline our squad where appropriate.” he added.