Tottenham make world-record £113m profit despite costs of new stadium

[mawspurs]

Tottenham Hotspur made a world-record profit of £113m after tax last season. The figure tops the £106m profit posted by Premier League rivals Liverpool earlier this year. Yearly financial results for 2017-18 reveal Spurs' income climbed from £310m to £380m thanks to player sales, bigger crowds at Wembley Stadium and reaching the Champions League knockout stages.

Source: BBC

 

[Japhet]

I assume we paid Wembley a fair chunk to play there, and we only sold Dembele, so the profits are vastly down to not spending. Whatever way you look at it though, Levy certainly knows how to manage the wonga.

 

[yiddopaul]

Haha, I bet Levy's going to fire whoever released that info!

 

[BTN1]

Should help us buy neymars left leg in the summer - and the surgery to replace Sissoko’s left leg with it - then we’ll have a beast of a player

 

[TottenhamMattSpur]

How can Sky Sports say

Tottenham posted a world-record annual profit for a football club of £113million in 2017/18, beating the £106million mark announced by Liverpool in February for the same season.

And

Spurs remain sixth in the Premier League's revenue table behind Manchester United, Manchester City, Liverpool, Chelsea and Arsenal, but the gap to their north London rivals was just £22 million last season. Spurs have also managed to double their income since 2014/15.

United still earned more than £200million more than Spurs, though, which underlines why Spurs chairman Daniel Levy has pushed so hard for the new stadium.

Are they switching between actual income Vs net profit?
If so, who cares if we took the 6th largest amount gross if the net is the most out of all of them, surely that puts us above them in actual money made?

 

[Japhet]

How can Sky Sports say


And



Are they switching between actual income Vs net profit?
If so, who cares if we took the 6th largest amount gross if the net is the most out of all of them, surely that puts us above them in actual money made?

You answered your own question. We made a big profit because we didn't spend a bean.

 

[Monkeyman]

I assume we paid Wembley a fair chunk to play there, and we only sold Dembele, so the profits are vastly down to not spending. Whatever way you look at it though, Levy certainly knows how to manage the wonga.

This is for the year ended 30th June 2018, so does not include the whole summer period.

 

[TottenhamMattSpur]

You answered your own question. We made a big profit because we didn't spend a bean.

Nothing to do with wanting to be top, but either you rank on net profit or gross income only. If there's no correlation then it's a worthless stat. As 97% of stats are...

 

[DanielCHillier]

Haha, I bet Levy's going to fire whoever released that info!

He would've released it, as the club are legally obliged to.

 

[freeeki]

Haha, I bet Levy's going to fire whoever released that info!

It's publicly available.

Also reasonable to expect that money will be reinvested in player acquisitions this summer. It won't be, of course.

 

[Buggsy61]

The main reason why we made the profit we did is due to the wage bill, which is way below our contemporaries - eg nearly £100m less than Woolwich FC.
Bringing the stadium into this is lazy journalism as most of the costs of the stadium will be capitalised i.e shown as an asset on our balance sheet rather than deducted against revenue to arrive at profit.
The only stadium costs that can come into the profit calculation is depreciation of the assets but this is very rare for land and buildings as you have to have good grounds for thinking that the asset is worth less than you paid for it.

All in all its an outstanding set of results and Mr Levy deserves a big pat on the back. He has worked tirelessly for this club and one fo the best things that has happened to this club in recent history. Next step is to put a team together that can really compete at the top level.

I am excited about the future!.

 

[spurs fan since 1950]

Excellent Post.
So long as Levy keeps Poch sweet i see great things in the future for Spurs.
We need to re build our team for next season .
Obviously Toby and Erikson will go with our blessings they have given great service and pleasure to us over the years.
They are entitled to seek much more in wages to cement the future for their families,I wonder how many people out there
would turn down tripling their wages to change jobs.
Levy must move more quickly and stop haggling too aggressively to bring in the new young players Poch wants.
I hope our fans are prepared to wait a few years to build a team that will always compete at the highest level.
Poch is not wrong to say it will take time to get there.

 

[JCRD]

So the way the article headline is presented on the front page of the forum it makes it out like we made a world record bid for a player... i did get a boner that disappeared as quick when i opened this thread...

It was like 'Tottenham make world record £'

Proper tease

 

[Jenko]

Should help us buy neymars left leg in the summer - and the surgery to replace Sissoko’s left leg with it - then we’ll have a beast of a player

Every time someone taps Sissoko on the left leg would he have to go down like a whining bitch???

 

[miles_64]

Deprect

The main reason why we made the profit we did is due to the wage bill, which is way below our contemporaries - eg nearly £100m less than Woolwich FC.
Bringing the stadium into this is lazy journalism as most of the costs of the stadium will be capitalised i.e shown as an asset on our balance sheet rather than deducted against revenue to arrive at profit.
The only stadium costs that can come into the profit calculation is depreciation of the assets but this is very rare for land and buildings as you have to have good grounds for thinking that the asset is worth less than you paid for it.

All in all its an outstanding set of results and Mr Levy deserves a big pat on the back. He has worked tirelessly for this club and one fo the best things that has happened to this club in recent history. Next step is to put a team together that can really compete at the top level.

I am excited about the future!.

And debt repayment costs, no?

 

[Buggsy61]

Deprect


And debt repayment costs, no?

Cost of finance is very low now which is why it was a good time to build, but yes you’re right that would be included in the profit figures as a cost.

 

[davidmatzdorf]

Are they switching between actual income Vs net profit?
If so, who cares if we took the 6th largest amount gross if the net is the most out of all of them, surely that puts us above them in actual money made?

Yes, "revenue" is receipts, which is not the same as "profit".

"Income" is something else again. And "money made" isn't really a definable concept, except in terms of the others.

Finally, I think you're getting your use of "gross" and "net" a bit confused.

These accounting terms have very specific meanings and when people just sling them around, confusion results.

 

[cider spurs]

Will there be a Cup, joyful celebrations.
What about cake ?.

 

[Lilbaz]

Cost of finance is very low now which is why it was a good time to build, but yes you’re right that would be included in the profit figures as a cost.

Yes but until we refinance they have to be paid by 2022. All £637m.

 

[Lilbaz]

Deprect


And debt repayment costs, no?

https://cartilagefreecaptain.sbnati...ncial-report-matches-its-new-state-of-the-art a break down.