Premiership football club Tottenham has announced record annual profits of £4.1 million for the year ended June 30 2005 while turnover rose to £70.6 million.
They north London club also announced player trading profits of £5.6million, but spending remains high and £61.8million has been furnished on new signings since July 1 2003.
"It follows that we now need to deliver success on the pitch if we are to continue to invest at this level," said Tottenham chairman Daniel Levy.
Tottenham began last season under Jacques Santini but improved once Dutchman Martin Jol replaced the former France boss, whose stay at White Hart Lane was short-lived.
They finished ninth in the Premiership, an improvement on the previous year's 14th place but still not sufficient to earn a European place. "We now have some unrivalled talent and a young, but clearly large, squad," said Levy.
The chairman did not rule out further investment, given the right players becoming available. "We will look to strengthen areas where we see weaknesses but ultimately we have to ensure we do not overstep the balance between players being motivated to fight for places and players not being able to reach their potential through lack of opportunity," he observed.
Tottenham lost sporting director Frank Arnesen to Chelsea, but a compensation package eased their pain at seeing the Dane move to Stamford Bridge. "It was clearly disappointing when Frank Arnesen left the club in September this year," said Levy.
The club has appointed Damien Comolli as Arnesen's replacement.