LONDON (REUTERS) - Tottenham Hotspur made a world-record profit of £113 million (S$201.4 million) after tax last year, the English Premier League club reported on Thursday (April 4) - the day after they officially opened their 62,000-seat stadium.
With income rising sharply as a result of player sales, hosting home matches at Wembley and a Champions League run, Tottenham's profit surpassed the £106 million reported by Liverpool earlier this year.
Tottenham became the first Premier League club not to make any signings in the summer transfer window last year and also failed to add to their squad in January.
The club was supposed to move into their new stadium, the cost of which has risen to £1 billion, at the start of the current season but a series of delays meant home matches had to be played at Wembley.
While it was a frustrating wait, the extra capacity at Wembley allowed Tottenham to sell around 340,000 extra tickets, according to chairman Daniel Levy.
Tottenham's income swelled from £310 million to a club-record £380 million, with Premier League match-day revenue rising from £19 million to £42.6 million.
The club's Champions League revenue also grew to £53 million after reaching the last 16 in 2017-18. This season they have reached the quarter-finals and will face Premier League rivals Manchester City this month.
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Tottenham, currently third in the table, continued to lag behind their top-six rivals in terms of players' wages, spending £147 million - about half that of Manchester United and £100 million less than Arsenal.
While Tottenham posted record profits, they have borrowed heavily to finance the new stadium with the loan increasing to £537 million compared to the initial £400 million.
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Chelsea held 2-2 by Burnley, denting Champions League hopes Chelsea suffered a setback in their push for a Champions League spot when they were held to a 2-2 draw at home to Burnley in the Premier League on Monday and tempers flared at the end of the match when Chelsea coach Maurizio Sarri was sent to the stands.
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Liverpool will benefit in the Premier League because of their win, says Tim Sherwood (Pic: SKY SPORTS) "It wasn't about the 29 years and winning the Premier League, they are probably sick of hearing it now, we all are.
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Chelsea striker Eden Hazard opened up on Spanish teammate Cesc Fabregas after the latter's touching farewell to Chelsea. Fabregas was teary-eyed as he applauded all sides of Stamford Bridge after Saturday's 2-0 FA Cup third-round win over Nottingham Forest. He nearly had the perfect farewell but had a first-half penalty saved.
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Paul Scholes has been appointed manager of League Two side Oldham Athletic on an 18-month contract. The former Manchester United midfielder begins work at Boundary Park on Monday with the club
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