Hey there, football fans! 🏟️ Guess who's making waves in the Premier League scene? Tottenham Hotspur is shaking things up, and we've got the scoop! 📣
Tottenham's chairman, Daniel Levy, just announced that the club is \"in discussions with prospective investors\" to turbocharge their long-term potential. 🚀 With the goal to continue investing in their teams and future projects, fresh capital seems to be on the horizon. 💫
For the first time ever, Tottenham's total revenue has soared past the half-billion-pound mark, hitting a whopping £549.6 million ($691.2 million) for the financial year ending June 30, 2023. 💷💹 That's a significant jump from last year's £444 million. Talk about leveling up! 🎮
But it's not all sunshine and rainbows. 🌥️ Operating costs also climbed by 21% to £487.9 million. The club reported a loss of £86.8 million, largely due to \"significant and continued investment in the playing squad.\" 💸 Gotta spend money to make money, right?
Levy emphasized the need for fresh investment in his statement accompanying the financial results. 📝 \"To capitalize on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base,\" he wrote.
He added, \"The board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club's shareholders.\" 🤝 Sounds like big moves are coming!
The Spurs also highlighted increases in revenue from match receipts, UEFA prize money, and TV and media commercials. 📺🏆 The profit from operations rose from £112.3 million to £138.7 million. Cha-ching! 🤑
However, the net debt as of June 2023 stands at £677.4 million. 💳 Ouch. But with new investors potentially coming on board, the future could be bright for the north London club. ✨
It's been over 60 years since the Spurs were last crowned champions of England and 16 years since their last major trophy win—the 2008 League Cup. 🏆 Could this be the start of a new era? Only time will tell! ⏳
Stay tuned, and keep your eyes on the pitch, amigos! ⚽🇲🇽
Reference(s):
Football: Tottenham in talks with 'prospective investors,' says Levy
cgtn.com
