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Spurs are punching well below their weight

Tottenham’s pre-tax loss significantly reduced from £95m to £26m, despite revenue falling £22m (4%) from £550m to £528m, as profit from player sales shot up from £16m to £82m and operating expenses were also cut 4% (£28m) from £615m to £589m. However, net interest payable increased £2m (6%) from £45m to £47m, which makes a big difference to the net result. In fact, without this hefty charge, Spurs would have made a £21m profit. Their loss after tax was almost exactly the same as the pre-tax figure at £26m, but the year-on-year improvement was £8m less, because the previous season benefited from a tax credit. The main reason for Tottenham’s revenue decline was the lack of European football, which led to reductions in both broadcasting, down £37m (18%) from £204m to £167m, and match day, down £12m (10%) from £118m to £106m. This was partially offset by further growth in commercial, which rose £27m (12%) from £228m to £255m, a new club record. As Levy put it, “Our off-pitch revenu...
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Record profits at Luton

Luton Town's one season in the Premier League paid off for them financially as they reported record turnover and profits:  https://www.lutontoday.co.uk/sport/football/luton-town/premier-league-promotion-sees-luton-town-announce-record-turnover-and-profits  
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Spurs stick to their strategy

The chairman’s statement accompanying the latest Spurs accounts is brief and much less upbeat than last year.  Even though Levy’s comments are brief, it does not mean that they are devoid of content. The most eye-catching part comes when he issued a passionate defence of the club’s operating model, hitting back at the argument that Tottenham should simply start shovelling money at the transfer market if they are to make progress on the pitch. This has been a constant criticism of Levy, not least earlier this season when thousands of fans marched in protest against him before the 1-0 win against Manchester United on February 16. “Profit before glory” has become one of the most widespread criticisms of the way the club is run. Tottenham are certainly attuned to this point: Levy makes clear in Monday’s message that in the six years since the new stadium opened, the club “have invested over £700m net in player acquisitions”. And it is certainly true that Tottenham have co...
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Anerican bid for Orient franchise

An American consortium is close to sealing a £18m bid for Leyton Orient:  https://www.theguardian.com/football/2025/mar/27/us-based-consortium-close-to-ambitious-18m-takeover-of-leyton-orient American investors have become increasingly interested in franchises in lower division clubs seeing them as offering better value.   Orient are still in contention for a play off place this season.
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Club World Cup: the rich get richer

FIFA has finally confirmed the revenue distribution model for the expanded version of the Club World Cup, which will take place in the United States from 15 June to 13 July.  The big headline is that a cool One Billion Dollars will be shared between the 32 participating clubs, so the teams that reach the latter stages of the tournament can look forward to receiving a substantial windfall. The highest ranked European club, namely Manchester City could earn a massive $125.8m (including $38.2m participation pillar), while the top South American club would only receive $102.8m, as their participation pillar is much lower at $15.2m. Chelsea’s maximum earnings of $116.6m (£97m) are less than Manchester City’s $125.8m (£105m).   It’s worth noting that the big money only accrues in the later stages of the tournament. For example, City would receive “only” $51.7m for reaching the last 16 with the other $74.1m up for grabs from the quarter-finals onwards. One obvious concern about...
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Chelsea have pulled a financial rabbit out of the hat

Chelsea’s valuation of their women’s team, which helped them to avoid breaking Profitability and Sustainability Rules, has been greeted with scepticism by football finance experts. Chelsea revealed on Monday that they made £198.7million by selling subsidiaries to the club’s parent company, with the transactions helping them to avoid a PSR breach. It is believed the women’s team were valued at considerably more than £150million.   PSR allow a club to lose £105million over three seasons, or £35million per season, on a rolling basis. The valuation of the team has provoked surprise. Kieran Maguire, the football finance guru, would have expected a figure of between £20million and £30million. That would be about double Chelsea Women’s 2023-24 revenue, and therefore comparable to the £305million for which Newcastle United (men’s and women’s teams) were sold in 2021, when their turnover was £140.2million. “The women’s game is a start-up so perhaps we would expect a slightly high...
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How would Liverpool benefit from buying Malaga?

Fenway Sports Group believe there is an opportunity to restore Malaga to the upper echelons of the Spanish and European game and there is huge potential for the only professional team in Spain’s sixth-largest city with a population of around 600,000.  The team also has a loyal fan base — even when playing in the third tier last season, attendances at its rustic La Rosaleda stadium regularly topped 20,000. That strong support helped the team, coached by long-time club servant Sergio Pellicer, to get promoted back to Segunda in 2023-24, despite the ongoing off-pitch turmoil. Malaga is also a well-known tourist destination, and the Costa del Sol area is home to a wealthy expat community, bringing opportunities for VIP matchday revenues and international marketing. Fenway Sports Group is routinely held up as an exceptionally valuable sporting empire, with Forbes pricing the group at $12.95billion in 2024, pitching them as the world’s third-most valuable sporting group a...
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