London — Tottenham Hotspur reported record revenue of £306.3m on Tuesday, but the Premier League club’s chairman said he expected "many challenges" in the coming months.
Daniel Levy, who has kept a tight rein on the wages of top players, said the London club was in "a historic period" but stressed the need to ensure "future stability".
The 46% increase in revenues to June 30 2017 was largely due to the new Premier League TV deal and Spurs’ participation in the Champions League, which they look likely to secure again next season, especially after their win against Chelsea at the weekend.
The club is due to leave their adopted Wembley home and move to a new stadium next season. With a capacity of 62,000, it will hold 26,000 more fans than their former White Hart Lane ground.
While the extra capacity and corporate facilities should ensure extra income, giving room to manoeuvre on the wages of stars such as Harry Kane, Levy aims to maintain the disciplined approach that has served him so well for 17 years. "As custodians of the club we are ever conscious of the need to ensure the future stability while managing its growth," said Levy.
It is understood the challenges he referred to relate to the scale of the £750m project.
If the ground is not ready in time for the start of next term, Levy may ask the Premier League to switch their opening home games with the corresponding away fixtures later in the season, as West Ham did in 2018 at the London Stadium.
Clubs are not allowed to use more than one ground for their home games in a season.