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Tottenham Hotspur Stadium financial year Image: Coliseum GSVA

Daniel Levy, the Chairman of the Premier League team Tottenham Hotspur Football Club (UK), has sent out a statement on the financial results of the club year ended June 30th, 2023.

The 2024 Coliseum Summit EUROPE was held at the 62,850-capacity Tottenham Hotspur Stadium in London, UK, from March 26th-27th, 2024.

‘tottenhamhotspur.com’ quoted Levy as stating, “Our turnover has exceeded half a billion pounds for the first time. Whilst the Union of European Football Associations (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 multiuse stadium and what our Board has been focused 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.”
 

On the Pitch

 

Men’s First Team

Added Levy, “During this period, we reached the Champions League Round of 16. A disappointing second half of the season saw us reach an agreement for the departure of Antonio Conte (Italian Football Manager) as the Head Coach. We thanked Cristian Stellini (Italian Football Coach – most recently the Acting Head Coach at Tottenham Hotspur) and Ryan Mason (Assistant Coach at Tottenham Hotspur) for overseeing the First Team for the latter part of the season. When Antonio arrived, we were eighth in the Premier League and, despite securing a fourth place finish in the previous season, we finished in the eighth position. During this period the Academy won an unprecedented double, lifting the Under-17 and Under-18 Premier League Cups. A full review of our footballing functions had already started during this time, and we began to implement changes across several fronts from the Academy through to the First Team operations. Outside of this period, Scott Munn (Australian) joined as the Chief Football Officer and, more recently, Johan Lange (Danish) was appointed as the Technical Director. Simon Davies (Welsh former professional footballer) was promoted to Academy Director.”

“Ange Postecoglou (Greece) was appointed in June 2023, along with the coaching staff Chris Davies (England), Mile Jedinak (New South Wales), Rob Burch (English footballer), Ryan Mason (English professional football coach), and Matt Wells (England). At the end of this financial year, we signed the English footballer James Maddison (who has also been appointed Vice-Captain alongside Cristian Romero – Argentine professional footballer) and the Italian professional footballer Guglielmo Vicario. Outside of the period we signed Manor Solomon (Israeli professional footballer), Ashley Phillips (British professional footballer), Micky van de Ven (Dutch professional footballer), Alejo Véliz (Argentine footballer), and Brennan Johnson (English), as well as making permanent the loan signings of Pedro Porro (Spanish footballer), and Dejan Kulusevski (Swedish footballer). In January 2024, we welcomed Timo Werner (on loan from the Bundesliga club RB Leipzig) and Radu Drăgușin (Romania), with Lucas Bergvall (Sweden) set to join us in the Summer. Luka Vuskovic (Croatia) was also signed and will join the club in 2025.”

‘tottenhamhotspur.com’ further quoted Levy as stating, “We recently said goodbye to several important people in the history of the club. Notably, our record goal scorer Harry Kane (English professional footballer) transferred to the Bundesliga club FC Bayern Munich (Germany) before the start of the 2023-2024 seasons. A product of our Academy system, Harry went on to become one of the greatest players ever to wear our colors. He was an outstanding role model both on and off the pitch during his 19 years with us. He is held in great affection and we wish him every success with his new club. We also said goodbye to our long-serving club Captain Hugo Lloris (France), who has recently signed for the Major League Soccer (MLS) team Los Angeles FC (US). Hugo played for us for over a decade and was our captain for most of those years. He was a popular figure amongst the fans and the players alike, and we wish him success in the MLS. Lucas Moura, who will forever be remembered for his Champions League hat-trick versus AFC Ajax (Dutch professional football club) in 2019, left us in June for his homeland Brazil, signing for the São Paulo FC (Brazilian professional football club). Eric Dier (English professional footballer) transferred to the Bundesliga club FC Bayern Munich (Germany) after nine-and-a-half years. He joins Harry as a great contributor to our club both on and off the pitch and we are delighted to be hosting their new club, FC Bayern, for a pre-season friendly at the stadium (August 10th, 2024). It will be an opportunity for the fans to thank them and bid them farewell. Given these transfers happened outside of the reporting period, they are not reflected in the financial results.”

“I was immensely proud that Son Heung-min (South Korean footballer) was appointed the club captain. Sonny has been at Spurs since the start of the 2015 season and has been a great Ambassador for the club, and is the embodiment of an exemplary Spurs player. The 2023-2024 seasons, the first under Ange, was always going to be one of building for the future. We have seen progress with the return of exciting, attacking football, even when faced with significant player injuries. We continue to challenge for the highest possible place finish with eight games still to play and hope to bring European football to our home stadium again.”
 

Women’s First Team

“Under the former Head Coach Rehanne Skinner (British), the Tottenham Hotspur F.C. Women had a challenging season. However, they managed to secure Women’s Super League (WSL) status for a fifth season. In a similar fashion to the Men’s team, we started a review of the team functions. Since appointing Robert Vilahamn (Swedish football coach) as the Manager in July 2023, we have seen some strong performances and progression in the WSL. Based in dedicated, specialist training facilities at the Hotspur Way (Enfield, UK), we saw the high-profile addition of the world-class England international striker Bethany England in January 2023. Bethany was appointed the club Captain during the Summer. At the end of the financial year, we said goodbye to the legendary defender Kerys Harrop (British), who announced her retirement as a player having broken the all-time WSL appearance record in April 2023.”

“Outside of this period, loan signing Grace Clinton (English professional footballer) became the first-ever current Spur to earn a maiden senior England call-up. Barbora Votikova (Czech), Martha Thomas (British), Olga Ahtinen (Finnish), and Luana Buhler (Swiss) were also recruited while we further strengthened our playing squad in January 2024 with the additions of the experienced China international Wang Shuang along with Matilda Vinberg (Swedish), Charlotte Grant (Australian) and Amanda Nildén (Swedish).”

“We have ambitions to further grow and invest in our Women’s team and operations, with more games to be hosted at the Tottenham Hotspur Stadium in 2024. One of these already scheduled is our The Football Association (FA) Cup Semi-Final against Leicester on April 14th. We are delighted to see our Women’s team reach this stage of the competition and will be cheering them hopefully to their first-ever The FA Cup Final.”
 

Non-football Revenue Operations

“We are increasingly becoming a hugely popular destination, not just for our football on the pitch, but also through hosting and partnering with events such as the National Football League (NFL), boxing, rugby, and music concerts. We are immensely proud that last Summer, Beyoncé’s (American singer-songwriter and businesswoman) five-night-run on our stage was the highest-grossing concert ever staged by a female artiste at the time. We also hosted the Red Hot Chili Peppers (American rock band) and Wizkid (Nigerian singer and songwriter).”

“In February 2023, with the support and vision of Stefano Domenicali, President and head honcho of the Formula One Group, we announced a 15-year partnership with F1 and in February 2024, opened the doors to F1 Drive-London – the first F1 branded electric karting experience in the world, housed under our South Stand. In September 2023, we announced the expansion of our partnership with the NFL through to the 2029-2030 NFL Seasons. As part of the agreement, the Tottenham Hotspur Stadium was given official status as the Home of the NFL in the United Kingdom. A particular thank you to the NFL Commissioner, Roger Goodell, for his continued support. It was also a proud moment when the Tottenham Hotspur Stadium was chosen – the only London club stadium – as a host venue for EURO 2028. I hope to see many of our own players playing here during the tournament, as well as welcoming even more visitors to N17 (Located at the South-East of the Tottenham Hotspur Stadium campus, on the corner of Park Lane and Worcester Avenue, the N17 Arena consists of two first-class Mini-Pitch System™ modular sports solutions, with accompanying floodlighting).”

“Planning permission has been granted for a 180-room hotel, with approximately 50 private apartments, at the Southern end of the stadium campus. Not only will this assist the regeneration of the local area with significant employment opportunities, it will also support our Conference and Events business, major events and be a great addition to the whole match and event day experience. All of the activities at the stadium are designed to create diversified sources of revenue which can then be invested in our principal core activity, football.”
 

Off the Pitch

 

To Care is to Do

“We are passionate about utilizing our new stadium as the spark for the regeneration of N17. We believe sport, music, entertainment, and culture can significantly contribute to the uplift, sense of unity and the overall welfare and spirit of our community. A recent Ernst & Young (accounting company) report on the socio-economic impact of the club’s activities showed that we contribute nearly £900m of gross output to London’s economy. We generated £344m Gross Value Added (compared to £120m in 2015) and currently support 3,700 jobs across the club’s tri-Borough area (Haringey, Enfield and Waltham Forest), with our impact now far exceeding that of our old ground, the White Hart Lane. The club supported Haringey’s successful bid as Borough of Culture for 2027 and we look forward to delivering a year of cultural activities and creating a lasting legacy in North Tottenham for generations to enjoy. The London Academy of Excellence Tottenham (LAET) – created, delivered and sponsored by the club and located at the Lilywhite House adjacent to the stadium – continues to go from strength to strength. The A-Level results during this period saw 47 percent of grades either A* or A and 75 percent A*-B, with nearly three-quarters of students winning places at the Russell Group Universities, including a record 21 students receiving Cambridge and Oxford offers.”

“Providing life-changing opportunities for those living on our doorstep continues to be a driving passion at the club – two major Jobs Fairs were held at our stadium during this period, with more than 1,700 people attending and an incredible 1,139 job offers being made across the two events. I attended one of these events and it filled me with a huge amount of pride to see our stadium being utilized in this way, speaking to people whose lives were being transformed within our home. In June 2023, the club became a member of the Government’s Social Mobility Pledge Consortium, committing to helping more vulnerable people into work. Speaking of opportunity, one of the most pleasing aspects of the stadium’s positive impact within the local community is the way it has helped to attract partners from beyond the world of sport to broaden the horizons of the local young people. A fantastic example during this period is the Ambassador Theatre Group (ATG), Britain’s leading theater company which partnered with us on a pilot of ‘West End in Tottenham’ – offering a series of performing arts workshops to 11-18-year-olds with the chance to attend a West End show. In creating a leading sports, music, entertainment, and cultural destination in London, these opportunities will continue to come – as well as the chance to witness and benefit from the major events we are bringing to N17. We gave the local residents over 11, 000 complimentary tickets for events during this period’s Summer, with 500 tickets alone distributed by the club to the community groups, local projects and the residents for Beyoncé’s run of concerts in Spring 2023. Figures from the Haringey Council show an increase in footfall on the Tottenham High Road of over 104,000, an increase of 60 percent on the previous Summer, underlining how these events are driving the growth of our local economy. The club is proud to have been named the greenest in the Premier League for a fourth successive year, topping the Sport Positive league table once again as we continue on our journey towards becoming net zero by 2040.”

“We were honored to be named winner of the club category in the 2022 Football Reputation Awards by the World Sport Association, in recognition of setting a good example for the society, promoting peace, sustainability and healthy living and opposing discrimination, inequality and poverty. We are proud of all the work we do with our communities – it underpins our commitment to our strongly held values.”
 

Fan Engagement

“During this period the club continued its regular and frequent engagement with representative supporter groups and created the Fan Advisory Board (FAB). Elections were followed by the first FAB meeting which took place in July 2023. The Supporter Representative Co-chair of the FAB, elected by their fellow Supporter Representatives, is now invited to attend up to four Club Board meetings per year and Chris Paouros joined us for our December 14th, 2023 Board meeting, a historic moment for our club and fans. The club has also published and commenced a full Fan Engagement Plan. I was pleased to meet some of you at the well-attended Fan Forum in September 2023, and answer questions from the fans directly. As a club we are fully committed to engaging with the widest possible range of stakeholders.”
 

Looking Ahead

“The club remains fully compliant with the Premier League Profit and Sustainability Rules (PSR) and is supportive of the enhancement of PSR to ensure the Premier League remains competitive and sustainable. We have operated on a financially sustainable basis and can now optimize the true value of the key assets, the unrivaled facilities at our multiuse stadium and our training campus which now includes our recently opened ‘Club House’ media center. Hosting XR stage technology (the combination of augmented reality, mixed reality and virtual reality), this is already enhancing the level and quality of our content for the fans and will provide additional revenue opportunities. We expect commercial revenues to rise from third-party events, although this will not compensate for the lack of European football this season. Additionally, as reflected in these results, we expect the impact of rising costs, caused by geo-political events, to continue to impact all areas of our operations. We are hugely appreciative of the long-term support of our principal partners, AIA and Nike, along with all our other sponsors and partners. The focus of our commercial operation is also to increase our income from additional sponsorship deals, a key area of future revenue growth and we have reorganized the commercial team to support this. Our ethos is clear – to be far-sighted and run the club sustainably. 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 honors.”

“Since opening the stadium in April 2019, we have invested over £600 million 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 the future capital projects, the club requires a significant increase in its equity base. The Board and its advisors, Rothschild & Company (investment management company), are in discussions with the prospective investors. Any recommended investment proposal would require the support of the club’s shareholders.”
 

Tottenham Hotspur F.C.

The Tottenham Hotspur Football Club, commonly referred to as simply Tottenham or Spurs, is a professional football club based in Tottenham, London, England (UK). It competes in the Premier League, the top flight of English football.
 

Tottenham Hotspur Stadium

The Tottenham Hotspur Stadium is the home of the Premier League club Tottenham Hotspur in North London (UK), replacing the club’s previous ground, the now-demolished White Hart Lane. With a seating capacity of 62,850, it is the third largest football stadium in England and the largest club ground in London.
 

White Hart Lane

The White Hart Lane was a football stadium in Tottenham, North London (UK) and the home of the Tottenham Hotspur Football Club from 1899 to 2017. Its capacity varied over the years, when changed to all-seater it had a capacity of 36,284. The stadium was fully demolished after the end of the 2016-2017 seasons.
 

Premier League

London (UK)-based the Premier League is the highest level of the English football league system. Contested by 20 clubs, it operates on a system of promotion and relegation with the English Football League (EFL). Seasons typically run from August to May, with each team playing 38 matches: Two against each other team, one home and one away.
 

English Football League

Preston (UK)-based the English Football League (EFL) is a league of professional football clubs from England and Wales. Founded in 1888 as the Football League, it is the oldest football league in the world, and was the top-level football league in England from its foundation until 1992, when the top 22 clubs split from it to form the Premier League. The Football League was rebranded as the ‘English Football League’ (EFL) from the 2016-2017 seasons.
 

Union of European Football Associations (UEFA)

Nyon (Switzerland)-based the Union of European Football Associations (UEFA) is one of six continental bodies of governance in association football. It governs football, futsal and beach football in Europe and the transcontinental countries of Turkey, Azerbaijan, Georgia, Armenia, and Kazakhstan, as well as the Asian country Israel. The UEFA consists of 55 national association members. Since 2022, due to the Russian invasion of Ukraine, the FIFA and UEFA suspended all Russian national teams and clubs from any FIFA and UEFA competitions.
 

The Football Association

London (UK)-based The Football Association (FA) is the governing body of association football in England and the Crown Dependencies of Jersey, Guernsey and the Isle of Man. Formed in 1863, it is the oldest football association in the world and is responsible for overseeing all aspects of the amateur and professional game in its territory.
 

Tottenham Hotspur F.C. Women

The Tottenham Hotspur Football Club Women, commonly referred to as Tottenham or Spurs, is an English women’s football club affiliated with the Tottenham Hotspur F.C. The club currently plays in the Women’s Super League, the top flight of women’s football in England. They play at the 9,271-capacity Gaughan Group Stadium in London, England.
 

NFL

New York (US)-based the National Football League is a professional American football league that consists of 32 teams, divided equally between the American Football Conference and the National Football Conference.
 

Formula One Group

London (UK)-based the Formula One Group is a group of companies responsible for the promotion of the Fédération Internationale de l’Automobile (FIA) Formula One World Championship, and the exercising of the sport’s commercial rights.
 

Formula 1

London (UK)-based the Formula One, commonly known as Formula 1 or F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l’Automobile (FIA).
 

FIA

Paris (France)-based the Fédération Internationale de l’Automobile (FIA) is an association established on June 20th, 1904 to represent the interests of the motoring organizations and motor car users. It is the governing body for many auto racing events, including Formula One. The FIA also promotes road safety around the world.
 

London Academy of Excellence Tottenham

The London Academy of Excellence Tottenham is an academically selective free school for pupils aged 16-19. The sixth form academy was opened in September 2017 in the London borough of Haringey. The academy’s principal educational sponsor is The Highgate School, a leading independent school in North London (UK).
 

Premier League Profit and Sustainability Rules

The Premier League Profit and Sustainability Rules (PSR) dictate the amount of money that the Premier League clubs are permitted to lose over a specific period. They determine how much these teams can spend on things like transfers, in the sense that each club must toe the line when it comes to balancing the income and expenditure.

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