New document reveals Tottenham transfer kitty, fans will be delighted
By Harry Sykes
Tottenham have transfer reserves of nearly £50million, according to the club’s annual accounts.
Spurs’ financial results for the year ended June 2016, as posted on their official website on Wednesday, highlight a ‘net cash’ sum of £47.6million.
This is an extremely healthy position and compares favourably to 12 months previously, when the Premier League club had a net debt of £20.8million.
Cash in the bank for a football club typically signifies sums reserved for the manager’s transfer and playing budget, although many can be set aside for other exceptional items.
It is likely that Mauricio Pochettino will have most of the £50million available to spend in the summer market, which will delight fans who want the manager to strengthen the squad and challenge even more strongly for trophies next season.
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The report also highlighted other improvements in the club’s finances, with revenue up seven per cent on the previous year to £209.8million.
Most tellingly of all, Tottenham made a profit after tax in 2015-16 of £33million, a near-£24million rise on the £9.4million profit of the previous year.
All Premier League home games at White Hart Lane sold out, with a season ticket waiting list now at 63,000, while the club also brought in £94.8million in media and television revenue.
Spurs currently sit second in the Premier League and are on course to qualify for the Champions League for the second consecutive season.
Mauricio Pochettino’s side return to action on Saturday when they travel to Burnley for a Premier League fixture aiming to keep their slim title hopes alive.
In other Tottenham news, the London giants have won the race to sign a 32-goal striker who has taken the league by storm.