- Tottenham have announced their financial results for the year ending June 2023
- Daniel Levy confirmed the club are looking for investors to boost their assets
- Have a day off, Pep! Guardiola’s lecture to Grealish on the Etihad pitch was unnecessary, says Ian Ladyman – It’s All Kicking Off
Tottenham chairman Daniel Levy has revealed the club are looking for investors to help them ‘capitalise on their long-term potential’ after announcing losses of £86million in their financial results.
Spurs have been linked with a possible sale over the last year after reports of rumoured Qatari interest in the north London outfit, while Iranian-American businessman Jahm Najafi was also said to be preparing a huge offer.
While the club are not currently for sale, Levy did announce they are seeking investment, claiming they need a ‘significant increase’ in their equity base following the recent losses as they continue to make payments towards the loan for their £1bn stadium.
While the club posted a big loss, there was a record revenue of £549.6million – largely thanks to stadium revenues from football and non-football events, such as NFL games, boxing fights and concerts.
In a lengthy statement summing up the club’s financial results from the year to June 2023, Levy said: ‘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.’
Levy chose to remain upbeat in his statement as he focused on the club announcing a turnover of over half a billion for the first time ever.
‘Our turnover has exceeded half a billion pounds for the first time,’ he said. ‘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 had an increase in UEFA prize money – up from £10.2m to £56.2m, while commerical revenues went up from £183.5m to £227.7m. Meanwhile, TV money was also up slightly from £144.2m to 148.1m.
