Spurs’ financial results!
Written by Viorel Mesca
The Club’s financial results for the year ending 30 June, 2010 have been released to the Stock Exchange this morning.
According to tottenhamhotspur.com, Spurs’ chairman, Daniel Levy said:
“This period has seen the club produce a record turnover and a 23 per cent increase in operating profit,” the chairman said in a statement.
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.
I would like to commend everyone at the club for their continued hard work and thank our supporters for their magnificent support both home and away throughout the season.”
Spurs’ chairman added:
This year’s financial results for the year ended 30 June 2010 have seen revenue reach a record high of £119.8m (2009: £113.0m). For yet another season we filled our Stadium to capacity for every Premier League home match and during this period Premier League gate receipts rose to £20.1m (2009: £19.8m).
Increases in media and broadcasting revenues, including the higher merit award for our fourth place finish, along with a rise in merchandising revenue, also contributed to our increased revenues.
Importantly, our operating profit excluding football trading, a key performance indicator for how the business is performing as a cash-generating business, increased by 23% to £22.7m (2009: £18.4m).”
Levy insited that:
“A new, increased capacity stadium is essential for our Club. We have 33,000 supporters on the paid-for Season Ticket Waiting List and we need to continue to move the Club forward which can only be delivered for the longer term in an enlarged stadium.”
Regarding the club’s commercial operation, Daniel Levy is delighted to announce two new shirt sponsors: Autonomy (sponsor for Spurs’ Premier League matches) and Investec (sponsor for all cup competitions).
Moreover, Tottenham signed a one-year extension to the Puma kit deal.
Speaking about the international development of the club, Levy said:
“We had a busy year with our three well established partnerships, namely Supersport United FC (South Africa), South China (Hong Kong) and San Jose Earthquakes (USA), and were delighted to agree a new partnership with FC Internacionale (Brazil).
All these partnerships have been developed to provide relationships that can facilitate the development of players and the exchange of coaching and academy methodologies. As a result we have seen players visit us from all four clubs and we have made several visits to our partners.
The very visible, immediate gains of these partnerships have been the signings of Sandro from FC Internacionale and a precontract agreement with Khumalo Bongani to join us from Supersport in January 2011.”
Dear Spurs fans, a copy of the club’s financial results is available on Spurs’ official website!
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