Investment: Results still poor at Spurs
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Investment: Results still poor at Spurs
IF ONLY British Sky Broadcasting had delayed its bid for Manchester United by a week. That's how close Alan Sugar was to agreeing an pounds 80m takeover bid for Tottenham Hotspur from a consortium including football investor Enic and Lord Hollick's United News & Media.
Once Rupert Murdoch had pulled out his wallet, however, the Spurs chairman decided that the underperforming London club was worth more and rejected the offer.
Whether Mr Sugar is right remains to be seen. Financial results for last season, released yesterday, give little cause for optimism. Attracting big-name players cost Spurs dearly, as transfer fees and a whopping 46 per cent increase in the wage bill pulled the club to a pounds 1.0m loss.
The arrival of new manager George Graham, with his large salary and requests for signings, means that the figures are likely to get worse before they get better - and then only if performances can be improved.
On the positive side, the rebuilt North Stand at White Hart Lane will boost ticket revenues, while Spurs have scope to expand the ground further. The club is also some way behind its larger rivals in developing revenue streams. Selling financial products makes sense, but whether Asian youths will buy David Ginola shirts remains to be seen.
Tottenham shares slipped 0.5p to 68.5p yesterday. On a multiple of two- and-a-half times revenues Tottenham looks cheap next to Manchester Unit
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments