Date:Wednesday January 23 2013
Turn-over down 12% and a £4.3m loss on the financial year ending both of June 2012, is hardly positive news, however Tottenham still need to be positive in their ambitions to retain their challenge for the top four and beyond.
I suppose it puts to bed talk from many of us that we have generated big money from sales compared with buying in players, as clearly that money balanced the books as a whole and with additional and exceptional expenses of the new training complex and stadium development preparations, you imagine that already those costs are weighing heavily on the clubs balance sheet and you imagine that once there is a structured funding and sponsorship deals, such as naming rights etc, Mr Levy will sleep more soundly in his bed and hopefully the greater certainty and perhaps structure of spending will make buying and selling players a little easier.
Despite Spurs selling big with Modric, VdV and a few others, we have also bought more and in reality the sums for ins compared with outs, probably don't differ greatly, so talk from fans about still having the Modric money, is false, whilst any accumulated wealth from previous windows has already be spent on running the club. We perhaps also might consider that we have probably looked to pay the likes of Gareth Bale more, but are still looking comfortable with regards to maintaining sensible wages compared with turn-over, so Financial fair play seems not to be a worry.
It does of course re-emphasis the need to keep trimming the squad of unwanted players, which in turn allows for development of youth by freeing up space and I feel the policy of bringing through the likes of Caulker, Townsend and several more, will continue and though the need for a striker is still evident, I still maintain that it might be at the cost of either Defoe or Adebayor in the summer and not in bringing in a third senior player, as perhaps Harry Kane will be asked to share the 3rd choice position with Clint Dempsey. Clever spending and continued adding of versatile and young players is something I believe will continue and was also part of the reasoning why the club appointed a manager who embraces development and look for the tomorrow as opposed to the today.
Clearly any club or business wants to see big profits and bulging bank balances, however it seems clear that Spurs are heading in the right direction, building for the long term, but only continued strong house-keeping and clever buying and selling of players will allow us to keep pace with those clubs around us, who lets not forget, all of them make massively more revenue that we can even dream of and regaining a CL place next season and progressing with the new stadium are more important than ever, if we are to maintain even our current levels of success...
Date:Wednesday January 23 2013
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