Football.London have revealed that Tottenham Hotspur have now published a full 52-page document on their current and future projects to follow up on the release of their annual financial results a couple of weeks ago.
In the report, Spurs touch on projects such as a 180-bedroom hotel, an extreme sports centre and up to 1,000 new homes, which were part of the initial proposal for the new stadium.
The club do not reveal when the construction will begin on those projects, instead simply stating that they will be developed ‘when appropriate’
The document also discusses the challenges that the club faced as a result of the pandemic and how they have recovered, with the Tottenham Hotspur Stadium hosting several major sporting events and concerts over recent years.
It reads: ‘The principal activities of the group continue to be the operation of both a men’s and a women’s professional football club in England together with associated commercial activities.
‘In addition, the group continues to acquire and develop properties associated with the Tottenham Hotspur Stadium development to enhance the surrounding area of the stadium.
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‘The comparative season in the statements, the 2020-21 season, was severely disrupted by the global pandemic caused by COVID-19 and consequently the season was played predominantly behind closed doors resulting in lost matchday revenue.
‘In addition, retail stores were closed, stadium tours and conferences and events were halted for between four and six months in the period, and none of the contracted summer concerts and events were able to take place.
‘In the current period, the NFL returned to the stadium, and it was able to host the boxing match between Anthony Joshua and Oleksandr Usyk, the Rugby Union match between Saracens and Bristol Bears and the Rugby League Challenge Cup Final.
‘In the summer post-year end the first concerts were hosted, with Guns N Roses and Lady Gaga performing shows postponed since 2020. The club also launched SPURSPLAY post-year-end, an original content subscription service.
‘The directors continue to monitor the potential risks to the UK economy of the COVID-19 pandemic and of the UK leaving the European Union and the impact these may have on the club’s revenues, commercial activities, cost base and foreign exchange exposure, but believe that the club is sufficiently robust to react to change.
‘The men’s team ultimately finished the season in fourth place in the Premier League, securing Champions League qualification. The women’s team finished fifth in the Women’s Super League.
‘The group will continue in the operation of a professional football club, deriving its revenue from media, sponsorship and commercial activities and also provide a host of additional events at the Tottenham Hotspur Stadium to enhance the continued investment in football at all levels.”
The report also discussed the recently released financial results and the long-term sustainability of the club’s current business model, expressing their commitment to UEFA’s financial fair play rules
‘Our business model going forward allows the group to be less reliant on football revenues.
‘While the operation of a professional football club remains our principal activity, the construction of the Tottenham Hotspur Stadium has enabled our business model to focus on new and diversified revenue streams.
‘We have non-football events booked for the 2022-23 period such as music concerts and non-football sporting events (including NFL and Rugby Union) with the profits from non-football activities going back into the club to support the football team.
‘We have also increased our focus on utilising the stadium to its full potential, through our conference and events department and restaurants, as well as non-matchday visitor attractions like our stadium tours and The Dare Skywalk.
‘The group’s adherence to UEFA and Premier League Financial Fair Play rules ensures sustainable, responsible and transparent spending.’
Spurs Web Opinion
The upcoming changes to the financial rules and its promise of levelling the playing field is central to Tottenham’s ambitions of being able to compete with Europe’s biggest clubs over the long term.
Our finances are in great shape as our wage bill is quite modest compared to some other clubs while our revenue from the stadium is only going to increase over the coming years.
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