Tottenham post 86.8 million pounds loss for 2022/2023 season despite revenue crosssing half a billion pounds

Tottenham Hotspur's revenue exceeded half a billion pounds for the first time, but the Premier League club reported a loss of 86.8 million pounds for the 2022-23 season on Wednesday.

Spurs' total revenue for the year increased by 24%, reaching 549.6 million pounds. The figure for 2022 was 444 million pounds. Revenue from match receipts increased from 106.1 million pounds to 117.6 million pounds.

Spurs' television and media revenue increased marginally (148.1 million pounds) as a result of the new Premier League broadcast deal, while commercial revenue increased more significantly (227.7 million pounds).

UEFA prize money increased dramatically (56.2 million pounds) after Spurs advanced to the Champions League last-16, in stark contrast to a group stage exit in the third-tier Europa Conference League the previous season (10.2 million pounds).

However, the club's operating expenses increased by 21% to 487.9 million pounds due to "increased first team costs, the hosting of multiple non-football events and cost rises outside of our control such as utilities, rates, consumables and increases in the London Living Wage."

The club's net debt as of June 30, 2022 was 677.4 million pounds.

"Our turnover has exceeded half a billion pounds for the first time," club chairman Daniel Levy said in a statement.

"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."

Spurs were top of the Premier League standings under new manager Ange Postecoglou thanks to an unbeaten run until October, but they are now fifth and vying for Champions League spots.

Levy also stated that the club requires a "significant increase in its equity base" to invest in its teams and future capital projects.

"The board and its advisors, Rothschild & Co, are in discussions with prospective investors," he added.

SportsLigue