Record Profits for Tottenham Hotspurs

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English Premier League soccer club Tottenham Hotspur posted a record full-year pretax profit, boosted by a player trading profit of 56.5 million pounds ($94.13 million). Tottenham registered record pre-tax profits of £33.4million in the year ending June 30, 2009. The figure was up from £3million on the same period last year, and was built on profits from player sales of £56.5million, with the likes of Dimitar Berbatov and Robbie Keane leaving the club in that time, although the latter re-signed in January. However, profit from operations excluding player trading and before restructuring and depreciation charges fell 31 percent to 24.1 million pounds. Spurs finished in eighth place in the Premier League in the 2008/09 season and reached the final of the Carling Cup. They currently stand fourth in the Premier League's 2009/10 season. "We have made significant progress in delivering on our long-term vision for the club," says Tottenham Hotspur chairman Daniel Levy said in a statement on www.tottenhamhotspur.com. "We have always had three key priorities and you will have heard them oft repeated - investment in the first team, a new training centre and an increased capacity state-of the-art new stadium.
"We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League, the ground is being turned and pitches laid for the new training centre at Bulls Cross in Enfield and we have submitted a planning application for a stunning new stadium on a site next to our existing stadium," he says.