Tottenham announces interim profit

An impressive pre-tax profit of GBP 39.8 million has been reported by English Tottenham for the last six months of 2008. The profit surpasses all previous totals for the club. The increase in revenue is being attributed to the unloading of Dimitar Berbatov and Robbie Keane. Selling the players to Manchester United and Liverpool, respectively, accounted for a significant portion of Tottenham’s final number.

While the return of Jermain Defoe and Pascal Chimbonda, along with the purchase of Wilson Palacios, will not appear on the club’s statements until the next interim report is released, Chairman Daniel Levy told The Telegraph that the current total demonstrates a “healthy financial state” for Tottenham.

Commenting on the set of records, which consist of a six-month period lasting through to the end of December 2008, Levy declared that such a profit is a “considerable achievement”, in light of the current economic crisis. Levy went on to commend the business side of the club and the loyalty of Tottenham fans for helping to make the profit a reality.

The profit comes as a welcome addition to the club, as Tottenham prepares to start plans for a new stadium, possibly selling naming rights or selling more shares to help fund the cost.