Tottenham Hotspur saw a double-digit rise in revenue during the last financial year as the Premier League club reaped the benefits of its stadium’s growing events list.
The London-based club said revenue was up 23% year-on-year to £444m during the 12 months to June 30, 2022, which marked the first full season in the 60,000-capacity new stadium at capacity. Match receipts were up significantly to £106.1m from just £1.9m during the previous year, when just two home games took place because of restrictions imposed due to the Covid-19 pandemic.
Commercial revenues increased by 20.7% to £183.5m, with that growth aided by the start of new major events being hosted at the stadium throughout the year as well as sponsorship and merchandising.
During the course of the year, the stadium hosted rugby league’s Challenge Cup Final, a Saracens Premiership Rugby match, a Barbarians v All Blacks rugby union game, and the heavyweight world title bout between Anthony Joshua and Oleksandr Usyk. The club also said it was aided by the development of visitor attractions such as Stadium Tours, The Dare Skywalk and Edge, and conferencing and events.
Operating expenses (before football trading) increased 18.7% to £403.4m due to increased first team costs and the return to full matchday operations.
Profit from operations, before depreciation, amortisation, player trading, interest and taxation increased 15.7% to £112.3m. The loss for the year after depreciation, amortisation, player trading, interest and taxation was £50.1m.
Chairman Daniel Levy noted that the current financial year to June 30, 2023 will benefit from the two NFL games that took place in autumn, as well as the stadium’s first concerts, with Guns N Roses and Lady Gaga having played last summer.
“It has been encouraging to return to normality, with the stadium busier than ever, full of fans and also visitors from around the world, home to football once again along with a variety of events, from boxing and rugby to welcoming the NFL back and becoming part of the global touring concert scene,” Levy said.
“We are delighted that we have been able to secure priority ticket windows for third party events for club members – an added benefit that has been hugely popular, particularly for high profile concerts such as Beyoncé and Red Hot Chili Peppers.
“All of these activities create diversified sources of funding to invest in our principal core activity, football.”
Tottenham Hotspur Stadium, built on the same site as the club’s old White Hart Lane home, opened in April 2019.
