Spurs profits hit by new manager

Spurs plans to enlarge its White Hart Lane stadium

Profits at Premier League club Tottenham Hotspur fell 30% in the second half of 2007 due to the cost of changing managers.

Spurs brought in Juande Ramos as head coach to replace Martin Jol and employed two new assistant coaches.

Excluding player transfers, profits for the six months to December were £9.9m, down from £14.2m the year before.

Revenue was up thanks to better sponsorship and merchandising sales as well as income from TV rights deals.

The club made £17.8m - an increase of 63% - from selling the rights to broadcast the clubs home matches in the UEFA Cup and from its share of the main Premier League TV deal.

When player transfers are taken into account, the club made a pre-tax loss of £26,000 after enlarging its squad.

Including tranfers, the club made a pre-tax profit of £19.8m in same period in the previous year, but this figure was boosted by the sale of player Michael Carrick to Manchester United.

Tottenham Hotspur said it will unveil its plans to redevelop its White Hart Lane stadium in the coming months.