Spurs Post Record Pre-tax Profits
Tottenham Hotspur has posted record pre-tax profits of £39.8m for the last six months of 2008 buoyed by sales of some of the Premier League club’s star players.
Last summer Spurs made over £51m from the sale of Dimitar Berbatov to Manchester United and Robbie Keane to Liverpool. The club also sold six other players for significant fees during that period.
‘During the 2008 summer transfer window gains were made on the sales of a number of registrations,’ said chairman Daniel Levy in a statement.
‘It needs to be noted that the club did not make the player trading profits in a manner that was planned or welcomed as they arose, in the main, from the regrettable sale of certain key players.’
Keane has since rejoined the club and the next financial figures are expected to be balanced out by this deals and the additional signings of Jermain Defoe and Wilson Palacios.
The profits, meanwhile, should assist the club’s proposed investment in a new training ground and stadium, named the Northumberland Development Project, with a full planning application due in ‘the next few months’.
Said Levy: ‘We have benefitted from having a robust business that is well financed and has continued to be able to support investment in the first team, whilst progressing two major capital expenditure projects – the new training centre and the Northumberland Development Project.’
