Tottenham Hotspur published yearly financial report for period from summer 2022 to summer 2023. In it you can see club revenue is bigger than half billion, while some expenses go up too. Salaries of players went up and some match day expenses. You can see it here.
You can see that revenue increased thanks to UEFA, match day revenue, TV and Media and Comercial. Profit from Operations before depreciation, amortisation, player trading, interest and taxation increased to £138.7m (2022: £112.3m). As far as I know depreciation is not something you pay in cash, but accountant trick to gain some taxation benefit. It helps you to show on example stadium cost not in single year, but on example if it cost 1 billion you can show it like 100 millions in 10 years to gain benefit from taxation. What you really pay is debt to the bank. First time Tottenham revenue was bigger than 500 million which is great. Expenses go up because if I understand player salaries.
Chairman Daniel Levy wrote a letter telling what we have done in previous year and said only board is dedicated to success, but didn't tell what is success for him. Is it 4th place or other Champions League place or is it winning trophies ? People are saying Daniel Levy gave himself yearly bonus of around 3 million and now wants fans to fill that gap with ticket increase and shameful decisions like to cancel benefits for elder fans or to charge entourage of disabled fans. From what I could read chairman is on around 260,000 Pound per month salary.
A lot fans are saying he made great new stadium and training facility. That's of course nice, but they didn't give money from their pockets for that they took loan from the bank. When you see list of highest average fan attendance per match you can see we are 3rd in that. If voices saying Spurs board have demand for 100,000 or more season tickets are right then question is why stadium capacity is not at least 75,000 ?
Let me remind you on what Daniel Levy told after ENIC bought Tottenham:
The excitement was purely the gamble to win millions.
I don't know for you but I think he likes to gamble to win millions. :)
According to Boy Hotspur channel ENIC didn't invest single penny from their pockets. They bought Tottenham from loan they took, they built stadium from loan they took and club or shell I say fans cash making machine is repaying that to the bank while they are enjoying in high salaries and give themselves bonuses while charging the biggest ticket prices in European football and plan to rise them even more. Here is snippet from interview with Daniel Levy at some point:
They said openly strategy is to profit from media's interest. They believed TV coverage was undervalued at the time and decided to enter. There was also statement saying:
"There is no passion here, this is purely financial. We chose football because it is the most popular sport on earth and the biggest money spinner."
In other words they are here to generate and take money and profit, they don't like football, but it is the most popular sport, they have no ambition to win trophies. They want to qualify for Champions League because that brings more money from UEFA. That's why they have absolutely no interest in FA cup and League Cup which pay very little. Maybe that's why Spurs players play disinterested in those cups and play like they want to go out of them as soon as possible ? Maybe that's why they sacked Jose Mourinho few days before final because he wanted to win it by resting players in Premier League game which they thought could jeopardize attack on top 4 ?
While other investors like Roman Ambramovic, Bohely, owners of City, Newcastle and other clubs are paying money from their own pockets to gain glory through winning trophies, group which is owning Spurs ENIC invested through loans with goal to make money machine and to earn more and more money while passionate fans need to pay them more and more and in return get maybe 4th place.
Meanwhile off pitch investments continues. Luxury Hotel with if I understood correctly around 100 rooms near south stand which will give more job opportunities to local society will soon be built. It should look like this:
That's all nice, but what's going on on the pitch ? When do we seriously start to compete for major honors like Premier League title, FA cup trophy, European trophies ? Until now under these ownership we are only in competition for 1st place in Chairman salary and we're champions in ticket pricing. If someone like to gamble to win millions why he wouldn't accelerate that process a little with you know what ?
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