Tottenham Post record Profit As Stadium Costs Pass £1bn
A picture shows a general view of the exterior of the new Tottenham Hotspur Stadium ahead of the Legends football match between Spurs Legends and Inter Forever/ AFP
Tottenham posted a world-record net profit of £113 million in 2017/18 but costs for the club’s new stadium rose above £1 billion ($1.3 billion), annual accounts showed on Thursday.
Spurs opened their state-of-the-art 62,000-capacity home on Wednesday with the hope that increased matchday revenue and an agreement to host NFL games will help the club compete financially with their Premier League rivals.
Total spending on the stadium and club’s training ground passed the £1 billion mark by the end of June 2018.
Much of that has been financed by loans. Spurs owed a total of £461 million in the year to the end of June, although the club have since extended their loans by another £100 million.
A picture shows a general view of the exterior of the new Tottenham Hotspur Stadium ahead of the Legends football match between Spurs Legends and Inter Forever/ AFP
Tottenham posted a world-record net profit of £113 million in 2017/18 but costs for the club’s new stadium rose above £1 billion ($1.3 billion), annual accounts showed on Thursday.
Spurs opened their state-of-the-art 62,000-capacity home on Wednesday with the hope that increased matchday revenue and an agreement to host NFL games will help the club compete financially with their Premier League rivals.
Total spending on the stadium and club’s training ground passed the £1 billion mark by the end of June 2018.
Much of that has been financed by loans. Spurs owed a total of £461 million in the year to the end of June, although the club have since extended their loans by another £100 million.
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