Wednesday, 2nd April, 2014
Tottenham Hotspur have announced their financial results and confirmed they are looking to move to a new stadium, potentially as early as 2017.
The White Hart Lane outfit made a profit of £1.5m for the year ending 30th June 2013, turning around a loss made the previous year, which came in at £4.3m.
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A new stadium has been pinpointed as vital for Spurs, with chairman Daniel Levy revealing that the club have a waiting list for season ticket holders which sits at over 47,000.
Levy said in a statement released by Spurs: "We have fantastic, strong support. Our current 36,000 seater stadium sells out and the waiting list for season ticket holders is currently in excess of 47,000.
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"We cannot stress strongly enough how critical the new stadium is over the long-term to these raised expectations.
"We have the smallest capacity stadium of any club in the top 20 clubs in Europe, let alone the current top four Premier League clubs, and given we now operate within UEFA Financial Fair Play rules, an increased capacity stadium and associated revenues is fundamental to supporting the future ambitions and consistent achievement at the top of the game.
"Our focus therefore is to continue to invest in and develop the squad – we shall not look to a summer of major upheaval, but rather to strengthen in key positions – to play the style of football for which we are famous – and to deliver the new stadium."
On the pitch Spurs look unlikely to qualify for next season's Champions League, at present sitting sixth in the Premier League standings.
If such a situation were repeated next season the situation could become critical for the club as money from a new BT deal for Champions League rights comes on stream from 2015/16.
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