Tottenham Hotspur has announced record revenue for the 2018-19 season, with overall turnover growing by £80m (€85m/$92m) off the back of the club’s appearance in the 2019 Uefa Champions League final.
The figure of £460m is the fourth-highest in the Premier League for the previous season. Only the two Manchester clubs – United (£627m) and City (£535m) – and Champions League winners Liverpool (£533m) posted higher numbers.
The figures show the importance of Champions League qualification to Spurs, which has taken on debts of £637m in financing the new Tottenham Hotspur Stadium. Almost a quarter – £108.4m – of the club’s total turnover for the season came from Champions League gate receipts and prize money.
The added visibility of sustained Champions League football over a number of seasons has also offered a boost to Spurs’ sponsorship and hospitality revenues, which grew by almost £30m year-on-year, from £93.4m in 2018 to £120.3m in 2019.
Television and media revenue remains the club’s biggest revenue generator, but grew only slightly in the 2018-19 season, hitting £149.9m, up just £2.3m from the year before.
Matchday and ticketing revenues, which stood at £34.4m for the Premier League alone, were impacted by the fact that Spurs played 14 of its 19 home games for the season at Wembley Stadium, moving to the new Tottenham Hotspur Stadium for the final five games. The 2019-20 season would have been the first full campaign the club had spent at its new home, but those gate receipts are now likely to be affected by the ongoing suspension of all football due to the outbreak of Covid-19.
In total, Spurs posted an overall profit, excluding player transfers, of £172.7m – a rise of just over £10m on the previous year. Profit after interest and tax was £68.6m – down significantly on the record-high profit of £113m the club posted in 2018, though this is largely attributed to player transfers, with the club bringing in several high-profile targets after being dormant on the transfer market the previous two windows.
In his statement accompanying the financial release, Spurs chairman Daniel Levy addressed the current global situation, with the club’s hometown of London currently preparing to go into lockdown, stating: “We are painfully aware that it seems wholly inappropriate to be giving any attention to the prior year’s financial results at a time when so many individuals and businesses face worrying and difficult times. We are however legally required to announce these by 31 March 2020.
“We are all facing uncertain times both at work and in our personal lives. I have spent nearly 20 years growing this Club and there have been many hurdles along the way – none of this magnitude – the Covid-19 pandemic is the most serious of them all.”