Financial results – year ended 30 June, 2023

Geez · Apr 3, 2024

• Total Revenue increased to £549.6m
• Profit from Operations (EBITDA) increased to £138.7m
• Loss after Tax increased to £86.8m

Extracts:-

Profit from Operations is before depreciation, amortisation, player trading, interest and taxation
The loss for the year is after depreciation, amortisation, player trading, interest and taxation, reflecting the significant and continued investment in the playing squad

Official Site 3 Apr 24

rjm14 · Apr 3, 2024

Can someone explain what all that means in basic terms?

carmeldevil · Apr 3, 2024

rjm14 said:
Can someone explain what all that means in basic terms?

We make a fuck ton of money. We also lost money investing in the squad according to them.
So no big £ this summer on players I think

Bluto Blutarsky · Apr 3, 2024

carmeldevil said:
We make a fuck ton of money. We also lost money investing in the squad according to them.
So no big £ this summer on players I think

Not sure on the last part - since this year's numbers will include £100m+ profit on the Kane deal alone.

I expect we will be fairly aggressive - within reason.

SirHarryHotspur · Apr 3, 2024

Revenue still some way behind these two though, have to raise prices even further to catch up

Manchester City post Premier League record revenue of £712.8m. Manchester City have announced record-breaking revenue for the 2022-23 financial year. The club confirmed income of £712.8m, outstripping the Premier League record £648.4m reported by Manchester United last month

newbie · Apr 3, 2024

carmeldevil said:
We make a fuck ton of money. We also lost money investing in the squad according to them.
So no big £ this summer on players I think

that would not include Kane sale?

accountants are very confusing you

would the losses include player depreciation like Los and Ndom?

not sure if its the same as stock but you would say its worth less to avoid paying tax, although I believe some clubs have over valued players to make them look more profitabl. I could be very wrong though.

Guernman · Apr 3, 2024

That's a pretty surprising loss considering this included European football. We have invested in the squad and our wage figures continue to rise, but our wages to turnover ratio, at 46%, is still the best in the league. Most clubs are over 60% and the mad (and breaking FFP) clubs are in the 90%+.

We won't have any European football helping with the next set of accounts, although we'll have the Kane sale which as pure profit will be significant.

It shows how crazy the premier league has become though

Geez · Apr 3, 2024

Under Premier League profit and sustainability (PSR) regulations, clubs can lose a maximum of £105m over a three-season period, or £35m per campaign, before facing sanctions.

Tottenham's losses over the last three years are beyond that threshold at £220.7m, but the annual depreciation charge of £72m, which refers to their stadium and other facilities, means they are not at risk of breaching PSR regulations.

Spurs also saw talisman Harry Kane sold to Bayern Munich for 100m euros (£86.4m) in August, but that deal fell outside of the financial window and will be included in the 2023-24 accounts.

Likewise, the outlay for the new additions James Maddison, Guglielmo Vicario, Dejan Kulusevski, Micky van de Ven and Brennan Johnson will feature in next year's accounts.

BBC Football 3 Apr 24 good article IMO

carmeldevil · Apr 3, 2024

Bluto Blutarsky said:
Not sure on the last part - since this year's numbers will include £100m+ profit on the Kane deal alone.

I expect we will be fairly aggressive - within reason.

Like I said - no big money. But like 20-50m range.

southlondonyiddo · Apr 3, 2024

Our debt also increased by 51m in the year….

chas vs dave · Apr 3, 2024

SirHarryHotspur said:
Revenue still some way behind these two though, have to raise prices even further to catch up

Manchester City post Premier League record revenue of £712.8m. Manchester City have announced record-breaking revenue for the 2022-23 financial year. The club confirmed income of £712.8m, outstripping the Premier League record £648.4m reported by Manchester United last month

Easy when your owners own the businesses that sponsor you.

Neon_Knight_ · Apr 3, 2024

Bluto Blutarsky said:
Not sure on the last part - since this year's numbers will include £100m+ profit on the Kane deal alone.

I expect we will be fairly aggressive - within reason.

I expect us to have some spending power this summer, but the profit from selling Kane will be partially offset by the amortisation of our signings from last summer + January. If our circa £230m spend on players is amortised over the next 5 years, that's circa £46m of amortisation to be added to our 23/24 accounts (in addition to previously incurred player amortisation costs). I believe this amortisation burden for next year will wipe over 50% of the profit we made on Kane*.

*The initial fee was reported as £82m (€95m), with add-on fees that could bring the total outlay up to £100m+. My assumption is that any add-on fees received would be accounted for in the year in which they are incurred - i.e. subsequent years to 23/24.

Trix · Apr 3, 2024

Neon_Knight_ said:
I expect us to have some spending power this summer, but the profit from selling Kane will be partially offset by the amortisation of our signings from last summer + January. If our circa £230m spend on players is amortised over the next 5 years, that's circa £46m of amortisation to be added to our 23/24 accounts (in addition to previously incurred player amortisation costs). I believe this amortisation burden for next year will wipe over 50% of the profit we made on Kane*.

*The initial fee was reported as £82m (€95m), with add-on fees that could bring the total outlay up to £100m+. My assumption is that any add-on fees received would be accounted for in the year in which they are incurred - i.e. subsequent years to 23/24.

yep and not being able to recoup anything for NDombele has put a dent in us season after season. I can see us fucking him off in the Summer because it's pointless keeping him into his final year.

SirHarryHotspur · Apr 3, 2024

chas vs dave said:
Easy when your owners own the businesses that sponsor you.

True.

We made a loss and raised ticket prices, fans are moaning , City made a record £80 million net profit and raised ticket prices ,you would think the fans would happily pay for trophies but they are moaning as well.

Neon_Knight_ · Apr 3, 2024

rjm14 said:
Can someone explain what all that means in basic terms?

Income increased, but so did expenditure.
We made a gross profit, and an operating profit, but a net loss (once tax, depreciation of capital assets etc. are factored in).
The large majority of our net loss is attributed to costs that aren't considered for UEFA FFP / PL PSR*.

*I believe only about £10m of our net loss for 22/23 would be considered for PL PSR, so we don't need to worry about breaching the overspend limit. We've potentially moved further from the £105m overspend limit for the rolling three-year period, compared to this time last year (depending on how things were looking on this front before now), as our overspend for the last year is significantly less than 1/3 of £105m.

Neon_Knight_ · Apr 3, 2024

carmeldevil said:
Like I said - no big money. But like 20-50m range.

If we have £50m plus any revenue generated by player sales, we'll be in a decent position to improve the squad. It seems very likely that Hojbjerg and Emerson will be leaving - that should give us another £40m+ to play with (i.e. £90m+ in total to spend), before factoring in any additional outgoing players.

leffe186 · Apr 3, 2024

Geez said:
Under Premier League profit and sustainability (PSR) regulations, clubs can lose a maximum of £105m over a three-season period, or £35m per campaign, before facing sanctions.

Tottenham's losses over the last three years are beyond that threshold at £220.7m, but the annual depreciation charge of £72m, which refers to their stadium and other facilities, means they are not at risk of breaching PSR regulations.

Spurs also saw talisman Harry Kane sold to Bayern Munich for 100m euros (£86.4m) in August, but that deal fell outside of the financial window and will be included in the 2023-24 accounts.

Likewise, the outlay for the new additions James Maddison, Guglielmo Vicario, Dejan Kulusevski, Micky van de Ven and Brennan Johnson will feature in next year's accounts.

BBC Football 3 Apr 24 good article IMO

Doesn’t the article on the official site suggest that the Maddison and Vicario purchases are included? It says they came at the end of this period while the others will be included in the next accounts.

Tyler24durden · Apr 3, 2024

Trix said:
yep and not being able to recoup anything for NDombele has put a dent in us season after season. I can see us fucking him off in the Summer because it's pointless keeping him into his final year.

It’s a shame as he would be amazing for us if he had an ounce of professionalism and commitment.
such a waste of talent.

TonyK · Apr 3, 2024

L

Neon_Knight_ said:
If we have £50m plus any revenue generated by player sales, we'll be in a decent position to improve the squad. It seems very likely that Hojbjerg and Emerson will be leaving - that should give us another £40m+ to play with (i.e. £90m+ in total to spend), before factoring in any additional outgoing players.

In addition to Emerson and Hojbjerg, we also have other players out on loan that can be sold to raise transfer funds such as Joe Rodon, Japhet Tanganga, Sergio Reguilon and Djed Spence. And then there are squad players like Lo Celso, Ryan Sess, Manor Solomon and Bryan Gil that are probably surplus to requirements as well. Doubt we’d get 50p for Tanguy though.

TonyK · Apr 3, 2024

Richarlison could possibly be sacrificed as well if one of the Saudi clubs offer us our money back on him.

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