Tottenham Hotspur have released their year-end financial results for the 2021-22 season, posting a 23% increase in total revenue to £444m from £361.9m in 2020-21.
The return of fans to the Tottenham Hotspur Stadium provided the biggest bump in revenue compared to the COVID-hit 2020-21 campaign, as income from match receipts shot up to £106.1m from £1.9m.
Spurs' commercial revenue also increased to £183.5m from £152m thanks to stores opening again, new sponsorship deals being agreed and events being hosted at the stadium.
However, Tottenham's COVID-enforced exit from the Europa Conference League saw prize money from UEFA competitions drop to just £10.2m, compared to £23.6m for 2020-21 when they reached the last 16 of the Europa League.
Failure to progress in Europe also had an impact on Spurs' TV revenue, which dropped to £144.2m from £184.4m, while their profit from operations came in at £112.3m - another increase from £97.1m for 2020-21.
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Despite spending big on the likes of Richarlison, Yves Bissouma and Cristian Romero in the summer transfer window, Tottenham's post-tax loss came down by 40% to £50.1m from £83.8m the year before.
Tottenham's latest financial results were accompanied by a lengthy statement from chairman Daniel Levy, who assured fans that he is hearing their calls for more money to be invested in the transfer market.
However, Levy insisted that Spurs "walk a fine line" between long and short-term investment, and his club must prioritise "sustainable" activity while avoiding "mistakes" in the market.
"Our spend levels show we have invested in the team – however, we walk a fine line between long-term investment and short-termism. This is why our recruitment must be first class as mistakes at this level have a financial and sporting impact for future seasons," Levy said.
"We have felt, and continue to feel, the financial impact of supporting player purchases which have not worked out as planned. We have taken steps to improve this area of operations and we believe the recent transfer windows reflect this.
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"Our aim has always been to combine the financial stability of the Club with remaining competitive on the pitch. We have to do what is right for us and sustainable in the long-term.
The landscape of the Premier League has changed significantly in the last decade. It is understandable that some fans call for more spending, much of which is unsustainable for many clubs.
"We are competing in a league in which we have seen increased sovereign wealth ownership and consortia finance; and in a league where the spending power is now vested in the hands of a few who dominate and have the ability to distort the market.
"We share our supporters' frustrations at so many 'near misses' resulting in a lack of trophies. Over the last two decades we have been in 14 semi-finals, made it to six finals and only won one of them.
"It must be our hope that we are soon celebrating a trophy win. We are immensely grateful to our fans who have supported us throughout and we want nothing more than to see them rewarded for their loyalty and passion."
Tottenham, who sit fifth in the Premier League table, are next in action against Leicester City on Saturday before travelling to San Siro for the first leg of their Champions League last-16 clash against AC Milan next Tuesday.
