Spurs to de-list from stock market

Tottenham have announced a boost in annual revenue over the last year, and chairman Daniel Levy is targeting continued growth for the North London club.

The White Hart Lane outfit posted revenue of £163.5 million for the year to 30th June – up from £119.8 million in 2010.

The improved financial performance is largely down to increased attendances at Spurs home games and the side’s excellent run in the Champions League last season.

Levy has now stated that the club are considering de-listing from the stock market in order to bring in added investment, with a new stadium in mind.

“It is clear to us that increasing the capacity of the club’s stadium is a key factor in the continued development and success of the club and will involve the company in considerable additional capital expenditure,” the executive told Spurs’ official website.

“Given this requirement, we believe that the AIM listing restricts our ability to secure funding for its future development.

“We are ambitious for the club and have always taken the steps that we believe to be in its best interests.

“In looking to move forward and continue to fulfil our ambitions as a club, particularly with respect to raising finance for capital expenditure projects, I can also announce that we are intending to propose to shareholders that the company be de-listed from trading on AIM and be re-registered as a private limited company,” he concluded.

Tottenham will look to continue their good run of form on Sunday, as they host Aston Villa at White Hart Lane.

By Gareth McKnight

 


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