LONDON (REUTERS) - Tottenham Hotspur made a world-record profit of £113 million (S$201.4 million) after tax last year, the English Premier League club reported on Thursday (April 4) - the day after they officially opened their 62,000-seat stadium.
With income rising sharply as a result of player sales, hosting home matches at Wembley and a Champions League run, Tottenham's profit surpassed the £106 million reported by Liverpool earlier this year.
Tottenham became the first Premier League club not to make any signings in the summer transfer window last year and also failed to add to their squad in January.
The club was supposed to move into their new stadium, the cost of which has risen to £1 billion, at the start of the current season but a series of delays meant home matches had to be played at Wembley.
While it was a frustrating wait, the extra capacity at Wembley allowed Tottenham to sell around 340,000 extra tickets, according to chairman Daniel Levy.
Tottenham's income swelled from £310 million to a club-record £380 million, with Premier League match-day revenue rising from £19 million to £42.6 million.
The club's Champions League revenue also grew to £53 million after reaching the last 16 in 2017-18. This season they have reached the quarter-finals and will face Premier League rivals Manchester City this month.
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Tottenham, currently third in the table, continued to lag behind their top-six rivals in terms of players' wages, spending £147 million - about half that of Manchester United and £100 million less than Arsenal.
While Tottenham posted record profits, they have borrowed heavily to finance the new stadium with the loan increasing to £537 million compared to the initial £400 million.
BERLIN: Bayern Munich forward Sandro Wagner is leaving the German champions with immediate effect and will join China's Tianjin Teda, the Bundesliga club said on Wednesday. The 31-year-old
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Vincent Kompany has revealed that he is to leave Manchester City after an incredible 11 years at the Club. The Belgium defender signed from Hamburg on 22 August 2008, a day etched in the minds of City supporters across the world.
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Kompany said he realised the time was right to leave when he scored a stunning winner against Leicester in City's penultimate league match. The 1-0 win took City to within one more win of the title, which they clinched with a 4-1 victory over Brighton on the last day.
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Can Barcelona end Real Madrid's title hopes in El Clasico? by Daily news channel ----- Pictures and sounds do not belong My ownership. If you are the owner you can remind me. To take my video
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Football: Hougang United seek Fifa resolution after new signing Rafael Ramazotti quits and joins Mexican club Feb 8, 2019, 12:05 am Subscribe to The Straits Times
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Liverpool have been given a huge boost ahead of their Champions League final against Tottenham - with Roberto Firmino returning to fitness. The Brazilian has missed the last three matches, including the semi-final victory over Barcelona, with a thigh problem.
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Tigers riding high Balestier Khalsa have extended their sponsorship with American carmaker Jeep, announcing yesterday a new "six-figure" one-year deal, the club's biggest to date. Balestier's jerseys are jointly sponsored by Lotto and sporting goods chain Weston.
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