Tottenham Hotspur still seeks stadium as profit tumbles

English Tottenham Hotspur claimed it is still will announce its preferred option for stadium development by the end of June.

The club made the announcement as it reported a 30.3 percent fall in first-half underlying profit.

Tottenham officials announced last year that they were considering leaving White Hart Lane. They examined sites in Enfield and Haringey. An expansion of Haringey's 36,240-seat stadium is a possibility.

Chairman Daniel Levy wants the club to move forward, but said it must not come at the cost of undermining first-team investment. He also said that the current economic and credit climate will make the club pore over options before trying to invest.

For the six-month period ending 31 Dec., the club had a 14-percent increase in revenue attributed to broadcasting, merchandising and sponsorship.

Profit from operations before player trading and amortisation fell GBP 4.3 million to GBP 9.9 million. This club claimed this was due to one-off costs, including the October sacking of club manager Martin Jol and first team coach Chris Hughton.

The club also won the Carling Cup and expects a possible revenue bump from the 2009 UEFA Cup.

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