Tottenham Hotspur have today released their financial report for the year ending 30 June 2023.
The report comes just hours after Ange Postecoglou’s side picked up a point on the road to West Ham in their bid for a spot in next season’s Champions League.
Spurs now sit just two points adrift of Aston Villa ahead of their game later today against Manchester City.
But attention has now turned to off the field matters as Daniel Levy has shared the club’s breakdown for the 2022/23 financial year.
Tottenham’s Financial results – year ended 30 June 2023
On Wednesday morning, the club revealed their financial numbers for the year ending 30 June 2023.
The report shared some staggering figures with the club now a revenue-making machine as a result of the construction of the Tottenham Hotspur Stadium.
Here is a brief summary of what was said in the report.
- Total Revenue for the year increased 24% to £549.6m (2022: £444m)
- Operating expenses increased 21% to £487.9m (2022: £403.4m)
- Profit from Operations increased to £138.7m (2022: £112.3m)
- The loss for the year was £86.8m (2022: £50.1m)
The vast number of non-football events being held at the stadium has seen revenue increase once again on the year.
Although it may not be to the taste of some Spurs fans, having concerts, NFL games and more held in N17 is proving to be a huge benefit for the Lilywhites in their ability to stay the right side of FFP.
Speaking on the club’s revenue, Levy shared his thoughts on the club passing the half a billion mark.
He said: “Our turnover has exceeded half a billion pounds for the first time. Whilst UEFA monies contributed, this has also been driven by increased stadium revenues from both football and non-football events and additional revenue streams.
“This is the impact of our multi-use stadium and what our Board has been focussed on delivering in order to invest in our football in a financially sustainable manner. The absolute priority for our Club is to deliver on-pitch success.”
What Daniel Levy said about future investment
The Lilywhites have not been one of the club’s to come close to falling short of the Premier League’s FFP regulations.
Levy even 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 PL remains competitive and sustainable.”
However, it seems the club are now looking to up their efforts off the pitch to help the side compete with the top clubs in the league.
Although Spurs have not got their hands on silverware in 16 years, they have come close on a number of ocassions.
It now seems Levy is looking to help push the side over the line as he has revealed the club are in discussions with potential new investors.
He said: “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.
“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.”
This comes just a matter of weeks after Levy was spotted at the Tottenham Hotspur Stadium with Sheikh Saud bin Rashid Al Mualla.
The manner of their meeting has not been clarified, but there could be some potential link with the comments recently released by Levy.
Spurs have seen potential Qatari investors interested in the club, but nothing came from the reported interest back in early 2023.
Some fans will say they’ve seen this all before, but for others it may offer some optimism for things to come in the near future with Postecoglou at the helm.