Tottenham posts its highest profit ever

When English Tottenham sold midfielder Michael Carrick to English Manchester United, the club's profit jumped to the highest it has ever been. A strong run in the UEFA Cup also helped.

The English Premier League club reported a pretax profit of GBP 20 million for the six months ending December 31, 2006, which is a significant increase from the GBP 4.4 million reported in the same period for the previous year.

Tottenham chairman Daniel Levy promised to continue investing in young talent.

"Acquiring and developing quality players in the first team is integral to achieving success and we are committed to building a squad with world class, long-term contracted players," Levy said.

Carrick's sale raised an initial GBP 14 million but could that could increase further.

A new sponsorship deal with the gaming and entertainment group Mansion, and television revenue also contributed to the record financial results for the club, which is in seventh place in the Premier League.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.