Vice-chairman quits Spurs

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Tottenham have confirmed vice-chairman Paul Kemsley has left the club, on the day in which they announced their financial results to the Stock Exchange.

Club chairman Daniel Levy has spoken of Kemsley's desire to focus on his America-based business interests as the main reason behind his departure.

Kemsley was thought to be a leading figure in the club's purported pursuit of Sevilla coach Juande Ramos, while he was also heavily involved in plans for a bigger stadium.

Levy insists the split is amicable and thanks Kemsley for the work he undertook during his six-year spell with the North London club.

With regret

"It is with regret that I announce the resignation of Paul Kemsley as non-executive vice chairman of Tottenham Hotspur Football & Athletic Co Ltd with effect from this year's forthcoming general meeting," said Levy in a statement.

"Paul has recently expanded his property business interests in the United States and feels that inevitably his time spent overseas will impact upon his ability to fulfil his role with the club.

"Paul has worked with me for the past six years at the club and I thank him for his advice and counsel during this period."

Record turnover

Meanwhile, finances released to the Stock Exchange have revealed a record turnover and profit for the last financial year.

An impressive run in the Uefa Cup, when coupled with a fifth-placed finish in the Premier League, has seen Tottenham post a turnover of £103.1million for the year ending 30th June 2007, up £29million on the 2006 figures.

The club's operating profit before football trading and depreciation increased from £4.6million to £32million while operating profit before training totalled £29.7million from £2.4million for the previous year.

Profit before tax increased impressively to £27.7million from £600,000 with retained profit for the year £18.9million.

Levy has vowed to continue to invest in building Martin Jol's playing staff, along with the stadium and training facilities.

"All parts of the business have continued to perform well to produce record revenues and profits," he said in his chairman's statement.

"Cash generation has been strong. Our priorities for the club are focused on continued development of the first team where we have built an exceptionally talented squad, progressing our state-of-the-art training centre and the development of an improved, larger stadium."