Last year's UEFA Cup campaign, when Martin Jol's side reached the quarter-final stage, and successive fifth-placed Premier League finishes, led to the club posting a turnover of £103.1million for the year ending June 30 2007, up £29million on the 2006 figures.
The club's profit before tax increased massively to £27.7million from £600,000 with retained profit for the year £18.9million.
Chairman Daniel Levy insists the club will continue to prioritise investment in team personnel plus 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."
A new planning application has been submitted for the Football Training Centre at Bull's Cross, Enfield. The recent purchase of Whitewebbs Sports Club has provided the opportunity to significantly remodel the layout and design of the site, leading to a positive planning balance, a better proposal, one which will have less impact on the Green Belt land, with only 3% comprising of buildings.
Our review of Stadium options is now substantially complete. I can report that a limited number of potential sites have been identified in the London Boroughs of Enfield and Haringey including the expansion possibilities of the existing stadium. These obviously remain highly sensitive on commercial grounds, but we are now working to a timetable that will see us commit to one option during the first half of 2008.
Meanwhile, Tottenham have confirmed vice-chairman Paul Kemsley has left the club. The Chairman revealed Kemsley has resigned from his position as non-executive chairman to focus on his business interests in the United States.
"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.
"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."
The following players have joined since we last reported: Darren Bent, Gareth Bale, Younes Kaboul and Kevin-Prince Boateng for the First Team; Adel Taarabt’s loan became a permanent move; Hossam Ahmed Mido joined and departed. Exciting younger players to join our Academy included Yuri Berchiche, Danny Rose and Dean Parrett.
Danny Murphy, Reto Ziegler, Mark Yeates and Emil Hallfredsson left the Club and Rodrigo Defendi, Rob Burch and Charlie Lee were released. We wish them all well.
I am pleased to report that, during the year, sixteen of our First Team professional players were called up to represent their respective national teams and this reinforces the continued quality of our current squad of players.
Tom Huddlestone and Jermaine Jenas were both offered and signed new, extended contracts. We very much hope Jermain Defoe will also extend his contract with the Club. We have progressively introduced an increased element of performance related remuneration into player contracts designed to reward success.
Our Academy re-structuring continues to produce excellent results. During last season five graduates from the Academy moved to professional contracts as third year, full-time players. A further seven moved to the Development Team under Clive Allen at the end of the season. The same period saw eight Academy scholars called up for international duty, along with six of our schoolboys. Most notably Thomas Pekhart who at 18 has played for the Czech Republic in the U20 World Cup in Canada.
The Academy participated in four international youth competitions and was successful in winning the prestigious Verona tournament. During the pre season our U18s won the Eurofoot tournament, this age group being a flagship group for the Academy with players showing potential for the First Team.
Our pre-season tour of South Africa was a great success. We enjoy strong historical support, enhanced by the previous tour in 2003 when we supported the South African bid to host the 2010 World Cup. The team returned from the tour victorious in the Vodacom Challenge. The players undertook several corporate social responsibility visits and were congratulated on their contribution throughout the tour. Their behaviour and conduct made them a credit to our Club.