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Financial Results

JerusalemMan said:
One of the points in the results listed the transfers in and out since the balance sheet was created. It included the Kane sale and the net cost was £108.893 million
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So that’s in last years turnover
That would have put our turnover up significantly surely …
 
Glenda's Legs said:

Off the Pitch​

To Care is To Do

We are passionate about utilising our new stadium as the spark for the regeneration of N17. We believe sport, music, entertainment and culture can significantly contribute to the uplift, sense of unity and overall welfare and spirit of our community.

A recent Ernst & Young report on the socio-economic impact of the Club’s activities showed that we contribute nearly £900m of gross output to London's economy. We generated £344m Gross Value Added (compared to £120m in 2015) and currently support 3,700 jobs across the Club’s tri-Borough area (Haringey, Enfield and Waltham Forest), with our impact now far exceeding that of our old ground, White Hart Lane.

The Club supported Haringey’s successful bid as Borough of Culture for 2027 and we look forward to delivering a year of cultural activities and creating a lasting legacy in North Tottenham for generations to enjoy.

The London Academy of Excellence Tottenham (LAET) – created, delivered and sponsored by the Club and located at Lilywhite House adjacent to the stadium – continues to go from strength to strength. A-Level results during this period saw 47% of grades either A* or A and 75% A*-B, with nearly three-quarters of students winning places at Russell Group Universities, including a record 21 students receiving Cambridge and Oxford offers.

Providing life-changing opportunities for those living on our doorstep continues to be a driving passion at the Club – two major Jobs Fairs were held at our stadium during this period, with more than 1,700 people attending and an incredible 1,139 job offers being made across the two events. I attended one of these events and it filled me with a huge amount of pride to see our stadium being utilised in this way, speaking to people whose lives were being transformed within our home. In June, 2023, the Club became a member of the Government’s Social Mobility Pledge Consortium, committing to helping more vulnerable people into work.

Speaking of opportunity, one of the most pleasing aspects of the stadium’s positive impact within the local community is the way it has helped to attract partners from beyond the world of sport to broaden the horizons of local young people. A fantastic example during this period is Ambassador Theatre Group (ATG), Britain’s leading theatre company which partnered with us on a pilot of “West End in Tottenham” – offering a series of performing arts workshops to 11-18 year olds with the chance to attend a West End show.

In creating a leading sports, music, entertainment and cultural destination in London, these opportunities will continue to come – as well as the chance to witness and benefit from the major events we are bringing to N17. We gave local residents over 11, 000 complimentary tickets for events during this period’s summer, with 500 tickets alone distributed by the Club to community groups, local projects and residents for Beyonce’s run of concerts in spring 2023. Figures from Haringey Council show an increase in footfall on Tottenham High Road of over 104,000, an increase of 60% on the previous summer, underlining how these events are driving the growth of our local economy.

The Club is proud to have been named the greenest in the Premier League for a fourth successive year, topping the Sport Positive league table once again as we continue on our journey towards becoming net zero by 2040.

We were honoured to be named winner of the Club category in the 2022 Football Reputation Awards by the World Sport Association, in recognition of setting a good example for society, promoting peace, sustainability and healthy living and opposing discrimination, inequality and poverty.

We are proud of all the work we do with our communities – it underpins our commitment to our strongly held values.

Fan Engagement​

During this period the Club continued its regular and frequent engagement with representative supporter groups and created the Fan Advisory Board (FAB). Elections were followed by the first FAB meeting which took place in July, 2023. The Supporter Representative Co-chair of the FAB, elected by their fellow Supporter Representatives, is now invited to attend up to four Club Board meetings per year and Chris Paouros joined us for our 14 December, 2023, Board meeting, a historic moment for our Club and fans. The Club has also published and commenced a full Fan Engagement Plan.

I was pleased to meet some of you at the well-attended Fan Forum in September, 2023, and answer questions from fans directly. As a Club we are fully committed to engaging with the widest possible range of stakeholders.

Looking ahead​

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.

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. Hosting XR stage technology, this is already enhancing the level and quality of our content for fans and will provide additional revenue opportunities.

We expect commercial revenues to rise from third-party events, although this will not compensate for the lack of European football this season. Additionally, as reflected in these results, we expect the impact of rising costs, caused by geo-political events, to continue to impact all areas of our operations.

We are hugely appreciative of the long-term support of our principal partners, AIA and Nike, along with all our other sponsors and partners.

The focus of our commercial operation is also to increase our income from additional sponsorship deals, a key area of future revenue growth and we have reorganised the commercial team to support this.

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.

Since opening the stadium in April, 2019, we have invested over £600 million in our Men’s and Women’s First Team squads.

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.

Thank you​

We are immensely grateful to all our colleagues who manage a busy fixture schedule and embrace the new diversified activities at our stadium. It has been both a challenging yet exciting time.

Whilst we are mindful that we are still in the process of rebuilding on the pitch with both our Men’s and our Women’s teams, we should all take the time to enjoy the excitement of matchdays and the spirit of all involved, alongside a commitment to excellence in everything we do. Credit must be given to our Head Coaches, Ange and Robert.

Our thanks go to all of our fans, partners and colleagues for their support, loyalty and passion.

Daniel
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My least favourite parts of supporting Spurs, I understand this information is critical to the club as a business but its really got nothing to do with football and it just stirs up all the certified and charted accountants we have on this site. Whatever I or anyone on here think it is what it is and there's nothing we can do about it. Everyone is entitled to their opinion but this is one subject I couldn't care about and I leave it to the experts.
 
K.D.D.D.D.Soc said:
My least favourite parts of supporting Spurs, I understand this information is critical to the club as a business but its really got nothing to do with football and it just stirs up all the certified and charted accountants we have on this site. Whatever I or anyone on here think it is what it is and there's nothing we can do about it. Everyone is entitled to their opinion but this is one subject I couldn't care about and I leave it to the experts.
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There's nothing we can do about the football side either, doesn't mean either topic shouldn't be discussed. If you're not interested then ignore it, but personally if it impacts Spurs I'm interested in it to some degree.
 
K.D.D.D.D.Soc said:
My least favourite parts of supporting Spurs, I understand this information is critical to the club as a business but its really got nothing to do with football and it just stirs up all the certified and charted accountants we have on this site. Whatever I or anyone on here think it is what it is and there's nothing we can do about it. Everyone is entitled to their opinion but this is one subject I couldn't care about and I leave it to the experts.
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Obviously a lot of it is for PR but it's actually quite impressive and I'm happy to read about it. The club has had a massive positive impact on the area which is something to be proud of.
 
I see social media football news sites are running the headline that we are looking for investors to come in and making it sound like we are looking to get someone in so we can spend £500m in the summer
 
DubSpur said:
There's nothing we can do about the football side either, doesn't mean either topic shouldn't be discussed. If you're not interested then ignore it, but personally if it impacts Spurs I'm interested in it to some degree.
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No but I have an option on performance of team, players and what could have been done differently, I have no option on the staff who put the report together or their skill in producing it or how it could have been bettered. I could write you should have made more, paid less for this, spent more on that but it would all be meaningless rubbish.
 
Yiddo said:
I see social media football news sites are running the headline that we are looking for investors to come in and making it sound like we are looking to get someone in so we can spend £500m in the summer
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When in reality it means Travelodge or IBIS coming in to co-fund the building of the hotel.
 
I know it sounds impressive but are these results actually good, assume the loss is just a paper one or does it mean for fair play it will be taken into account?

Lloris, Dier, Kane, Perisic, Moura is probably 700K a week or more gone from the wage bill. Winks and Sanchez are maybe another 100K. Fair chance NDombele and Reguilon go this summer as well - that's probably another 250-300K gone. I know we've signed others but their wages must surely be less.
 
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DeanoAustin said:
Obviously a lot of it is for PR but it's actually quite impressive and I'm happy to read about it. The club has had a massive positive impact on the area which is something to be proud of.
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I agree the club is trying to help in the regeneration on the local area which has been allowed to decline over decades. I don't live in Haringey but from the outside the local council have a terrible reputation and appear to do nothing to improve the area for their people.
 
P.D. said:
I know it sounds impressive but are these results actually good, assume the loss is just a paper one or does it mean for fair play it will be taken into account?

Lloris, Dier, Kane, Perisic, Moura is probably 700K a week or more gone from the wage bill. Winks and Sanchez are maybe another 100K. Fair chance NDombele and Reguilon go this summer as well - that's probably another 250-300K gone. I know we've signed others but their wages must surely be less.
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I don't understand finance at all, but there is much more detailed breakdown in the full report: https://www.tottenhamhotspur.com/media/v24hfkyo/tottenham-hotspur-limited-300623.pdf

I think because a lot of it is to do with capital, those losses are outside the scope of FFP.
 
DeanoAustin said:
Only took a quick skim but think we lost 72m of the 87m total loss on depreciation of the stadium which doesn't count in terms of FFP. We're safe as houses on that score.
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So basically the stadium is judged to now be worth say £1.43b, instead of its previous £1.5b, so that shows as a £72m loss in our accounts?
 
P.D. said:
I know it sounds impressive but are these results actually good, assume the loss is just a paper one or does it mean for fair play it will be taken into account?
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Every year we depreciate the stadium, so the final figure will look like a loss (on paper).

We could not depreciate the stadium and pay a fat chunk of corporation tax instead if not doing so put us in profit.
So it'll probably be a good few years before we have a CT bill

Plus this part of the loss is not counted towards FFP so we are not close to falling foul of that.
 
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