Tottenham Hotspur have received a welcome financial boost with the news that their value has significantly increased over the past year. The north London club are currently worth £ 1.609bn a rise of £205million which represents a 12 per cent increase.
A report published on Football Benchmark show that Spurs were dealt a blow with their first season inside their new state-of-the-art stadium affected by Covid/lockdown in the 2019/20 campaign. However, despite the second half of that season taking place behind closed doors, the club were still able to register record matchday revenues.
The Lilywhites dealt well with the financial hardships of the pandemic; their staff costs to revenue stood at 39% in the 2018/19 season and rose to 58% in 2020/21. A figure still considerably lower than many of their competitors in normal times.
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The news of their increased valuation is hot on the heels of a cash injection of £150m into the club by owners ENIC. The money will be used to supplement Antonio Conte's transfer kitty ahead of this summer's window.
Spurs confirmed via a statement on their website that they raised the money via the issues of convertible A Shares and accompanying warrants.
"The equity injection provides the Premier League club with greater financial flexibility and the ability to further invest on and off the pitch, the club confirmed on Tuesday. "The investment represents permanent capital, with no ongoing interest cost to the club, and which may be drawn in tranches until the end of the year."
Spurs secured a return to the Champions League with a 5-0 win over Norwich on the final day of the season. And Conte who has made his feelings known on the strength and depth of his squad will be keen to recruit quality players to enable the club to compete on both domestic and European fronts.
"The delivery of a world-class home was always a key building block in driving diversified revenues to enable us to invest in the teams and support our ambitions to be consistently competing at the highest levels of European football," chairman Daniel Levy said.
"Additional capital from ENIC will now enable further investment in the Club at an important time."
