Spurs Seeks Investment After £86.8m Loss
Tottenham Hotspur FC has reported a loss of £86.8m after tax for the 2022/23 season, despite seeing its revenue eclipse £500m for the first time to reach £549.6m.
Overall revenue increased by 24% on last year’s figure of £444m, while the Lilywhites’ operations profit (£138.7m), match day receipts income (£117.6m), and broadcast rights revenue (£148.1m) were all up on 2021/22.
After revealing a loss of £50.1m last year and £83.8m for 2020/21, the club has made collective losses of £220.7m over the last three seasons. This more than doubles the Premier League’s Profit and Sustainability Rules (PSR) loss limit of £105m over a three-year period. However, Spurs are able to offset £72m annually through a depreciation charge due to investment into club infrastructure including the stadium and other team facilities, meaning the North London club falls within PSR regulations.
In Tottenham Hotspur’s newly published annual report, Chairman Daniel Levy, said, “The club remains fully compliant with the Premier League Profit and Sustainability Rules (PSR) and is supportive of the enhancement of PSR to ensure the [Premier League] remains competitive and sustainable.
“We have operated on a financially sustainable basis and can now optimise the true value of key assets, the unrivalled facilities at our multi-use stadium and our training campus which now includes our recently opened ‘Club House’ media centre.
“Our ethos is clear – to be far-sighted and run the club sustainably. This involves strict control of our cost base, increased commercial and sponsorship revenues and consistent European participation, all of which are key to our ability to continue to invest in the squad and win top honours.”
Levy also revealed that the Premier League club has been “in discussions” with potential new investors.
“To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base,” he added.
“The board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club’s shareholders.”
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