Tottenham is open to investors after £86.8 million loss

Tottenham chairman Daniel Levy has stated that the club is in talks with potential new investors after reporting a post-tax deficit of £86.8 million ($109.2 million) for the fiscal year ending June 30, 2023.

Although Spurs posted a record turnover of £549.6m ($691m) for the year, operating expenses rose by 21% with the club citing “cost rises outside of our control such as utilities, rates and consumables” as well as “significant” investment in new players.

Tottenham’s salary expenditure increased by 20% to £251.1 million ($316 million), making it the fifth-highest in the league after Manchester City, Liverpool, Chelsea and Manchester United.

The loss is a significant increase from the previous year — £50.1 million ($63 million) — and there has been conjecture for some time that club owners ENIC might be willing to sell if a fair offer was made.

However, a club insider had said that the conversations are about selling a stake rather than a full sale: “Our ethos is clear — to be far-sighted and run the club sustainably,” Levy wrote in the chairman’s statement accompanying the figures.

“This involves strict control of our cost base, increased commercial and sponsorship revenues and consistent European participation, all of which are key to our ability to continue to invest in the squad and win top honours.

“Since opening the stadium in April 2019, we have invested over £600m ($755m) in our men’s and women’s first-team squads”To capitalize 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.”

That accounting era included the additions of James Maddison and Guglielmo Vicario, as well as Beth England’s transfer from Chelsea in January 2023 for a sum reported to be in the region of £250,000, a record among Women’s Super League clubs. The great majority of Tottenham summer activities, including Harry Kane’s €120 million move to Bayern Munich, occurred after June 30.

Tottenham’s £1 billion stadium is critical to the club’s future expansion, with Beyonce’s five-night series of events last summer being the “highest-grossing concert ever staged by a female artist at the time,” a feat now eclipsed by Taylor Swift.

Spurs also have a 15-year collaboration arrangement with Formula One to offer an electric karting experience at the stadium, and they recently extended a contract with the NFL to stage games there until the 2029-30 season.