Spurs Announces Loss After Transfer Buys
Premier League club Tottenham Hotspur has reported a pre-tax loss for the financial year of £6.5m despite the club bringing in record revenue of £119.8m.??
The loss is partly due to a loss on player trading as the club spent £37.8m on players including Peter Crouch, whilst income from player sales was only £24.6m.
??However, the revenue for the club rose by 6% to £119.8m as the club had a strong finish to last season and surged into a Champions League spot.??
Gate receipts and merchandising revenues also increased and White Hart Lane was sold out for every Premier League match.??
The chairman, Daniel Levy, said: ‘We are benefiting now from our investment to date in the First Team squad. Our challenge is to accrue further benefits from our investment in capital projects in order to lay the strongest foundations for the future stability and prosperity of the club.’??
The club is in the process of either developing plans to build a stadium on its current site or following through with its application to occupy the Olympic Park.
