Tottenham Hotspur Announce £4.3m Loss

English Premier League team Tottenham Hotspur, order have announced a loss of £4.3m for the 2011-12 financial year.

Revenue at the club was down 12%, ed from £163m ($258m) to £144m ($228m) and operation profits were at £23m ($36m) from £38m ($60m).

One reason for the drop is the lack of Champions League football at White Hart Lane this year, having missed out despite finishing fourth in the Premier League during the 2011-12 season.

Whilst commercial revenues increased, merchandising fell by 4%, as Spurs made a loss of £1.6m ($2.5m), before interest and tax.

Daniel Levy, Chairman of Tottenham Hotspur said: “We are ever ambitious for the Club, driving all areas of the business and our focus continues to be the delivery of an increased capacity stadium.

“There is much work to be done refining the detailed design and resolving the final development issues. We intend to deliver this to the same high standards of the new Training Centre and to reward our incredibly loyal supporters with a world class stadium and one that will have made a crucial contribution to the regeneration of a priority borough in London.”

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