How Spurs Built a Stadium *And* Made a Profit

How Tottenham Hotspur built a stadium AND made a profit.
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In the same twenty four hours in which Spurs recently played their first match at the new 62,000 seater stadium the club quietly published its financial statements for the year ended 30 June 2018 and announced world-record pre-tax profits of £139 million.

This seems at odds with the tales of woe relating to the stadium completion, which involved delays due to steel cost overruns, labour shortages pushing up wage bills and emergency loans that the club have recently taken out.

So, have Spurs managed to be smarter than every other club in managing its finances or have these financial results been subjected to the dark arts of accountancy.

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