Tottenham Hotspur's Record Profits To Be Re-Invested In The Squad

Profits made from selling players.

Nov 10, 2009 9:19:15 AM

More On :  Tottenham
A digital rendering of Tottenham Hotspur's proposed new stadium. (PA)
Tottenham Hotspur have announced record profits based on the selling of a number of squad players, and an increase in media and broadcasting revenues.

The Lilywhite north London club revealed plans earlier in the year to build a new 56,000-seater stadium, yet the profits generated in the year to June 30 will not be allocated to the new stadium project; instead they will be used to make squad reinvestments.

The key player-sale in increasing pre-tax profits was that of Dimitar Berbatov to Manchester United for £30.75 million in 2008. The total trading profit, according to the BBC, was £56.5m - compared with £16.4m previously.

"We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League," Spurs chairman Daniel Levy said.

After the club made a disastrous start to last season, they replaced manager Juande Ramos with Harry Redknapp, who steered Tottenham clear of relegation and into the top half, where they finished in eighth place. Spurs are currently fourth after accumulating 22 points after 12 rounds of Premier League action.

The club had reported a decrease in the leasing of corporate boxes, while merchandise revenues had also been hit - in both cases reflecting the adverse economic environment.

The club said leasing of corporate boxes and lounge memberships at White Hart Lane had fallen because of the recession.

Tottenham have built-up a scouting network in Brazil and have since been linked with a move for £16m-rated midfielder Sandro. Klaas-Jan Huntelaar, Nigel Reo-Coker and Sulley Muntari have also been rumoured to be transfer targets for the White Hart Lane outfit.

Alan Dawson, Goal.com UK
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