Financial reports show Tottenham suffered £61m losses before tax last term | OneFootball

Tottenham Hotspur lost £61 million before tax last term, according to financial reports shared by finance expert Kieran Maguire.

The north London club saw their revenue increase from £361m in 2020-21 to £443m last term. However, it was not enough to save them from losses.

Spurs ended the season with £226m in their bank account, with £106m generated in ticket sales. It was the first time their matchday income had exceeded £100m.

Tottenham would have made more had they qualified for the Champions League. They finished seventh in 2019-20, which saw them qualify for the Europa Conference League.

Spurs then failed to progress beyond the group stage, which ended their European adventure.

They pocketed £144m in television money, with their failure to qualify for Europe’s elite continental competition resulting in a drop in broadcast income.

Nevertheless, they raked in £184m in commercial income – a record figure – which should rise significantly once naming rights are secured for their new ground.

Tottenham parted with £209m in wages paid to their playing staff, while Daniel Levy earned £3.3m – the highest director pay in English top-flight.

They spent £160m across both transfer windows on the acquisitions of seven players.

Cristian Romero, Pierluigi Gollini, Bryan Gil, Pape Matar Sarr and Emerson Royal joined the club in the summer. Rodrigo Bentancur and Dejan Kulusevski were signed in January 2022.

They currently owe other clubs £262m in outstanding instalments on transfer fees and may end up paying add-ons worth £64.7m on transfers.

Spurs could also earn £61m from add-ons included in the contracts of sold players.

The north London club have had a net transfer spend of £76m plus a possible £17m of add-ons since the end of last term.

Having borrowed to fund the construction of their £1 billion stadium, the Lilywhites have a net debt of £952m.

Levy was reportedly holding out for a naming rights deal worth around £25m per annum for 15 years back before COVID-19 struck in 2020.

They would have sealed a world-record £375m if they managed to get a suitor, but that is yet to happen.

Barcelona got around £210m from Spotify after selling Camp Nou’s naming rights to them. Spurs may need to lower their demands, having already gone four years without getting a deal.

They need to make more money going forward, but their campaign has not gone well.

Manager Antonio Conte helped them qualify for the Champions League last season and they are in the round-of-16, where AC Milan await.

Spurs will hope their finances improve this term,  but how they perform on the pitch across all competitions will determine plenty of things.