SPURS ARE BIG SPENDERS
Club chairman Alan Sugar, who has come under fire for fans for not spending enough money on buying players, revealed that, despite the amount of money spent, they still managed a post-tax profit of £100,000 to the year ended 31 July 2000.
"Following a disappointing year on the pitch it is with some relief that I report a small profit after tax of £0.1 million," said Sugar.
The North London club spent over £23 million during the summer on new signings with Ukrainian striker Sergei Rebrov costing a club record £11 million.
They made £7 million from offloading players after the end of last season, including £3 million from Aston Villa for former crowd favourite David Ginola.
Spurs also revealed that made a profit with most Premiership matches having been sold out in the year, with them making £3.7 million in both Cup competitions, down £2.7 million from the previous year, when they won the Worthington Cup and reached the semi-final of the FA Cup.
Like most clubs in the Premiership Spurs' payroll costs increased 21% to £26.2 million.
The club aims to redevelop the East Stand of its White Hart Lane Stadium, increasing the seating capacity to 44,000, which will bring more revenue into the club, maybe allowing Spurs boss George Graham to strengthen his squad with some new signings.
Meanwhile, Sugar also revealed that the club are considering taking the Football Association to court over the £150,000 fine they received for their part in a mass brawl at Leeds last season.
The FA turned down an appeal last June from Spurs, who were looking for the charge to be overturned, but now they are prepared to take civil action to have the fine revoked.
"The Football Association fine was levied against the club for the alleged misconduct of players at an away match at Leeds," explained Sugar. "We are still strongly appealing against this decision."
