Daniel Levy says Tottenham 'in discussions with prospective investors'

Tottenham Hotspur chairman Daniel Levy says the Premier League club are “in discussions with prospective investors” in a bid to “capitalise on our long-term potential".

The North London club on Tuesday published its financial results for the year to June 30, 2023. Turnover exceeded half-a-billion pounds for the first time, with the figure of £549.6 million a significant increase on £444m for the previous year.

However, operating expenses including first-team costs have risen by 21 per cent to £487.9m, with a loss of £86.8m put down to “significant and continued investment in the playing squad”.

"Our turnover has exceeded half a billion pounds for the first time. Whilst Uefa monies contributed, this has also been driven by increased stadium revenues from both football and non-football events and additional revenue streams.

"This is the impact of our multi-use stadium and what our Board has been focussed on delivering in order to invest in our football in a financially sustainable manner. The absolute priority for our club is to deliver on-pitch success."

Revenue from match receipts, Uefa prize money, TV and media and commercial all increased on 2021/22, as did the profit from operations which rose from £112.3m to £138.7m.

The club report that their net debt as of June 2023 was £677.4m. Over 90 per cent of their borrowings of £851.2m are at fixed rates, with an average interest rate of 2.79 per cent.

Spurs finished a disappointing eight in the 2022/23 Premier League season to miss out on European football for the first time since 2010.

The sale of several players, most notably record scorer Harry Kane, who joined Bayern Munich last August in a deal worth in excess of €100 million (£85.5m), fell outside the financial year