Tottenham Hotspur have confirmed in their financial results for the year ending June 30, 2024 that their total revenue and other income decreased to £528.2million. Recording a figure of £549.6million in 2023, Spurs' revenue fell due to nine fewer home games than the previous year and also because of not competing in European competition.
Tottenham's match receipts came to £105.8million in 2024 when they had recorded £117.6million 12 months earlier. Their UEFA prize money stood at £1.3million due to their failure to qualify for Europe at the end of the 2022/23 season.
In comparison, Spurs' total from 2023 was £56.2million after reaching the Champions League round of 16. Tottenham confirmed the prize money in the period is a final account payment relating to the prior season’s competition.
TV and media revenues increased, however, as they jumped from £148.1million in 2023 to £165.9million in 2024. Tottenham also saw an increase in commercial revenues from £227.7million to £255.2million.
Operating expenses (before football trading) decreased to £453.6million from £487.9million. Profit from operations before depreciation, amortisation, player trading, interest and taxation increased by 4% to £144.9million from £138.7million, though.
The loss for the year after depreciation, amortisation, player trading, interest and taxation was £26.2million, with the 2023 figure standing at £86.8million. Tottenham have also confirmed their net debt as of June 30, 2024 was £772.5million in comparison to £677.4million in 2023.
Over 90% of the club's financial borrowings of £851.5million are at fixed rates, with an average interest rate of 2.79%. The average maturity of all Tottenham's borrowings is 18.6 years, some of which stretch until 2051, ensuring limited impact on the club’s ability to invest in the playing squad.
In the financial results that were posted on the club's official website on Monday afternoon, chairman Daniel Levy released a statement to discuss the numbers.
"As we announce our financial results for the year to 30 June, 2024, we currently find ourselves in 14th position in the Premier League, navigating what has been a highly challenging season on the pitch," he explained. "We are, however, in the quarter-finals of the UEFA Europa League. Winning this competition would see welcome silverware and mean qualification for the UEFA Champions League. We must do everything we can to support the team in these final key stages.
“Since opening our new stadium in April 2019, we have invested over £700million net in player acquisitions. Recruitment remains a key focus, and we must ensure that we make smart purchases within our financial means. I often read calls for us to spend more, given that we are ranked as the ninth richest club in the world. However, a closer examination of today’s financial figures reveals that such spending must be sustainable in the long term and within our operating revenues.
"Our capacity to generate recurring revenues determines our spending power. We cannot spend what we do not have, and we will not compromise the financial stability of this club – indeed, our off-pitch revenues have significantly supplemented the lower football revenues this year, testament to our diversified income strategy.
“I want to thank everyone who supports us through good times and bad. We are resilient and passionate about our club. We shall aim to finish this season as strongly as we can and continue to build for success on the pitch.”
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