English Premier League club Tottenham Hotspur has reported a world-record pre-tax profit of £138.9m, breaking the mark for world football set by Liverpool in February.
In its financial results for the year ending June 30, 2018, which have been lodged at Companies House, the North London club has reported an after tax profit of £113m (€132.1m/$148.2m), up from £36.2m for the previous year. Profit before interest and taxation stood at £157.1m, up from £72.9m.
The club’s income was up to £380m in 2018 after getting £309m the previous year, although it was still behind the likes of Arsenal (£403m), Chelsea (£443m), Liverpool (£455m), Man City (£500m) and Manchester United (£590m).
Spurs also reported record revenues of £380.7m, an increase of £71m over the previous 12 months. This included significant increases in gate receipts, £42.6m over £19m, as the club profited from its temporary stay at Wembley Stadium, pulling in average attendances of 68,500 for the financial year.
Having been initially due to move into its new 62,062-seat stadium back in September, Spurs finally christened its new home yesterday (Wednesday) with a 2-0 Premier League win over Crystal Palace.
In a message to fans ahead of the game, chairman Daniel Levy, the major player behind the stadium development, acknowledged that the club had benefited from its temporary stay at Wembley. “The increased capacity at Wembley meant that over 90,000 additional, new ticket purchasers joined our database, and saw the team play, buying 340,000 tickets between them. This would never have been possible at White Hart Lane and also not possible at our new stadium”, Levy said.
Wednesday night saw the team play at Tottenham Hotspur Stadium for the very first time as they beat Crystal Palace 2-0 courtesy of goals from Son Heung-min and Christian Eriksen.