Tottenham’s transfer spree hits €167m

TOTTENHAM’S latest financial results have revealed transfer spending of almost £150 million (€167m) in the last 16 months, surpassing the traditional Barclays Premier League top four and coming second only to Manchester City.

Spurs announced record pre-tax profits in the year ending June 2009, helped by the sale of Dimitar Berbatov to Manchester United and Robbie Keane to Liverpool, although both those heavyweights appear conservative in their transfer spending compared to the club currently fourth in the Barclays Premier League.

Chelsea and Arsenal have also been prudent during the same period, while Spurs have needed to reshape their squad following the departure of Juande Ramos and appointment of Harry Redknapp as manager.

Spurs spent £119.3m (€132m) in the financial year, with another £29.4m (€32.8m) invested since on Peter Crouch, Sebastien Bassong, Niko Kranjcar, Kyle Naughton and Kyle Walker, their results confirmed.

Chairman Daniel Levy, who has also overseen projects on a new training ground and stadium, said: “We have made significant progress in delivering on our long-term vision for the club.

“We have always had three key priorities and you will have heard them oft repeated – investment in the first team, a new training centre and an increased capacity, state-of-the-art new stadium. We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League, the ground is being turned and pitches laid for the new training centre at Bulls Cross in Enfield and we have submitted a planning application for a stunning new stadium on a site next to our existing stadium.”

Spurs’ pre-tax profit was £33.4m (€37.3m), with the departure of Berbatov valued at £23.4m (€26.1m) although it is understood there are clauses that could see that figure rise if activated.

The figures also estimate the club having total assets of “almost £300m (€335m)”. Should Spurs maintain their current league position and qualify for the Champions League, the overall value of the club would be expected to rise.

Meanwhile, Levy revealed the club are in talks on a new shirt sponsorship contract from next season, with the deal with Mansion due to expire at the end of the current campaign.