Financial Results - club announcement

[alfiemacdaddy]

Financial results - year end 30 June, 2021 | Tottenham Hotspur

The Club has announced financial results for the year ended 30 June, 2021, this morning - here are the financial highlights and Chairman's statement.

www.tottenhamhotspur.com

 

[Delboy75]

Excellent detailed statement and very good results considering. Add gate money and commercial loss and we will be pushing £500m in next year’s accounts. Hopefully from here we can see a less bumpy road and continued growth. Exciting times ahead imo.

 

[spursfan77]

Excellent detailed statement and very good results considering. Add gate money and commercial loss and we will be pushing £500m in next year’s accounts. Hopefully from here we can see a less bumpy road and continued growth. Exciting times ahead imo.

Yep. The stadium should rescue us from those huge losses much quicker than other clubs going through the same thing. It's been the albatross round our necks for a long time but it now should be our saviour.

 

[spursfan77]

https://www.tottenhamhotspur.com/media/43691/financial-results-year-end-30-june-2021.pdf

 

[SpartanSpur]

Overall I think we coped with the pandemic pretty well from a financial standpoint. That Covid loss (£150m) is probably much higher for us than say Burnley because the majority is lost match day income but the fact we were able to get a £175m loan and then refinance it into long term bonds likely means we have coped with the pandemic better than 99% of clubs out there.

Interestingly we still haven't seen a full year's benefit of the stadium in a set of accounts (and 2019 showed £94.5m of matchday income) so we could feasibly be pushing £450-500m in total turnover in future years when you consider the new sponsorship deals that have been signed since June (Cinch/Getir) and the future potential for naming rights. If Levy is telling the truth in respect of funnelling all of that revenue back on to the pitch then I think we can be very competitive in terms of spending power. As mentioned the real trick will be ensuring we improve recruitment as we haven't seen a great return from that £400m spend since the stadium was built! Hopefully the appointments of Paratici and Conte will be a turning point in that respect.

 

[HodisGawd]

A very solid set of results in the circumstances.

The club is in safe hands and we can look forward to a lot of investment in the team now.

 

[Delboy75]

As far as I’m aware no other club has been able to get such a substantial loan (£250m ) on such good terms 2.7% in long bonds same as stadium. Of course other clubs will be bailed out by owners. But I’d guess we are in a much better position than most and also in a great position in terms of FFP so free to basically spend what we like.

 

[ShelfWatcher]

Yep, as long as there are no more Lockdowns or similar financial shocks, 500m revenue is within sight.
As has been said, the trick is to spend it well, and if necessary spend a little more.
We won't always get our transfers right, but the big 4 keep on spending till they get there. We have to match that commitment. Sure the top of the range players probably wont join us currently, but we have to push the envelope, think blue sky and make mission impossible an achievable goal ???

 

[dimiSpur]

Given the circumstances, Covid-19, a massive stadium debt and also the loss of Champions League revenue all coinciding, I think the financial results are pretty good. Hopefully now we can start enjoying the fruits of our labour, that being the added revenue from the stadium. A full season's matchday revenue should make next year's announcement very interesting.

 

[Aphex]

Very positive and I liked Levy’s statement. The only caveat to it all is unfortunately we are in a league where clubs are funded by countries and oligarchs! So the club does all this and we are still outspent by these cheats

 

[Danfunkel]

Very positive and I liked Levy’s statement. The only caveat to it all is unfortunately we are in a league where clubs are funded by countries and oligarchs! So the club does all this and we are still outspent by these cheats

You’d imagine a wage cap must be on the agenda at some point, especially after the barcodes buy out. They’d all vote for it bar a few clubs.

 

[spursfan77]

Overall I think we coped with the pandemic pretty well from a financial standpoint. That Covid loss (£150m) is probably much higher for us than say Burnley because the majority is lost match day income but the fact we were able to get a £175m loan and then refinance it into long term bonds likely means we have coped with the pandemic better than 99% of clubs out there.

Interestingly we still haven't seen a full year's benefit of the stadium in a set of accounts (and 2019 showed £94.5m of matchday income) so we could feasibly be pushing £450-500m in total turnover in future years when you consider the new sponsorship deals that have been signed since June (Cinch/Getir) and the future potential for naming rights. If Levy is telling the truth in respect of funnelling all of that revenue back on to the pitch then I think we can be very competitive in terms of spending power. As mentioned the real trick will be ensuring we improve recruitment as we haven't seen a great return from that £400m spend since the stadium was built! Hopefully the appointments of Paratici and Conte will be a turning point in that respect.

Yeah, whilst interesting to look at from a Covid loss point of view, I'm really not that interested in this set of accounts. It is the ones revealed in 12 months time that will be fascinating. Only then will we really know how much we are making from the stadium income. I would absolutely love to know how much we actually make every game from ticket prices to food/drink sales and corporate income.

I've read through the accounts and actually the club is in a pretty good place financially despite the headline losses the media will focus on. Because of the stadium we will recover from the pandemic much quicker than other clubs across England and Europe. If somehow Conte can get us into the Champions League next season then we will be in an amazing position moving forward revenue wise. I'm not sure many other clubs have revealed their accounts for 2021 yet, but I expect there will be some more eye watering losses than ours.

 

[ShelfWatcher]

You’d imagine a wage cap must be on the agenda at some point, especially after the barcodes buy out. They’d all vote for it bar a few clubs.

Not sure they would. Prem gets lots of overseas players in by offering huge wages. The cap would have to be very high to ensure that continues
Plus, there are usually ways round such caps and some clubs might prefer the current open market than a dodgy closed one
I don't see any wage cap bar FFP in the near future

 

[hellava_tough]

For some context, here is the latest (19/20 season) revenue results from the Deliotte Money League:

Deloitte Football Money League - Wikipedia

en.wikipedia.org

Next set of results (20/21) should be in Feb of next year.

With a whole season in the stadium, more sponsorship, naming rights and Champions League football, 22/23, 23/24 seasons and onwards could see us become ridiculously wealthy; possibly even Top 5 in the world!!

Champions League is absolutely critical though!!

 

[arthurgrimsdell]

Overall I think we coped with the pandemic pretty well from a financial standpoint. That Covid loss (£150m) is probably much higher for us than say Burnley because the majority is lost match day income but the fact we were able to get a £175m loan and then refinance it into long term bonds likely means we have coped with the pandemic better than 99% of clubs out there.

Interestingly we still haven't seen a full year's benefit of the stadium in a set of accounts (and 2019 showed £94.5m of matchday income) so we could feasibly be pushing £450-500m in total turnover in future years when you consider the new sponsorship deals that have been signed since June (Cinch/Getir) and the future potential for naming rights. If Levy is telling the truth in respect of funnelling all of that revenue back on to the pitch then I think we can be very competitive in terms of spending power. As mentioned the real trick will be ensuring we improve recruitment as we haven't seen a great return from that £400m spend since the stadium was built! Hopefully the appointments of Paratici and Conte will be a turning point in that respect.

Bear in mind income is not profit. Turnover is not profit. Only extra new profits generated by the stadium and new sponsorship are likely to be "funnelled back on the pitch". The rest goes on running the club.

 

[JCRD]

Im an accountant but im a shit one so can someone just let me know - are we rich?

 

[ShelfWatcher]

Im an accountant but im a shit one so can someone just let me know - are we rich?

No, but we can spend more than Port Vale, HTH ?

 

[SpartanSpur]

Bear in mind income is not profit. Turnover is not profit. Only extra new profits generated by the stadium and new sponsorship are likely to be "funnelled back on the pitch". The rest goes on running the club.

Of course, but a sharp rise in turnover like we have seen in recent years will increase our spending power. In 2017 our turnover was £310m and that included CL participation. The main costs for the club are wages and transfer fees (via amortisation) which is very much 'on the pitch'. General overheads will not be increasing anywhere the same level as our turnover currently is so it goes without saying that large increases in turnover are a very good thing for the club.

 

[shelfboy68]

You’d imagine a wage cap must be on the agenda at some point, especially after the barcodes buy out. They’d all vote for it bar a few clubs.

I think lawyers would be all over it saying you can't restrict people's earnings I doubt it will ever happen.

 

[Ginola+Tonic]

Excuse my ignorance but to me it reads like we need to be a bit more reserved in our spending and not splash the cash?

Am I reading it wrong?