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Spurs tighten purse strings despite gains

TOTTENHAM manager Harry Redknapp has been warned there will be no January spending spree despite the club announcing record profits yesterday.<br /><br />Spurs made a pre-tax gain of &pound;33.4m for the year ending 30 June 2009 &ndash; a figure driven by profits on the sale of players, such as &pound;23m striker Dimitar Berbatov.<br /><br />With Redknapp&rsquo;s men riding high in fourth place in the Premier League, a timely cash injection to the winter transfer kitty would boost their chances of qualifying for the Champions League for the first time.<br /><br />But Tottenham have splashed out almost &pound;30m since the summer, and director Sir Keith Mills believes players may have to be sold if Redknapp wants to buy.<br /><br />&ldquo;I think there will be some trading in January,&rdquo; Sir Keith told City A.M. &ldquo;Whether we will be a net spender or a net seller is the chairman&rsquo;s decision, not mine. If there is any activity I think it will be quite small. I don&rsquo;t think there will be major changes.&rdquo;<br /><br />Tottenham&rsquo;s pre-tax profit was an increase of more than &pound;30m on the previous year, and was also boosted by media and broadcast revenues, which were up 11 per cent to &pound;44.8m.<br /><br />Player trading made Spurs a record &pound;56.5m, despite an outlay of almost &pound;120m on signings including David Bentley, Roman Pavlyuchenko, Jermain Defoe and Wilson Palacios. Since July, Spurs have spent another &pound;29.4m on Peter Crouch, Niko Kranjcar, Sebastien Bassong and others. The total &pound;150m outlay over the last 16 months is more than any of the so-called Big Four and second only to mega-rich Manchester City.<br /><br />After some close shaves, Sir Keith believes Spurs could finally finish in the top four this season.<br /><br />&ldquo;The object was to make sure we were in Europe this year, ideally the Champions League,&rdquo; he added. &ldquo;And I think we&rsquo;ve got a great chance. We&rsquo;ve got some quality in depth, I think we&rsquo;re fortunate that some of the other teams &ndash; Manchester City and Liverpool &ndash; are not having things their own way.&rdquo;<br /><br />Sir Keith, one of Britain&rsquo;s most successful entrepreneurs and a non-executive director at Tottenham, is also principal of Team Origin, the British entry into sailing&rsquo;s America&rsquo;s Cup, who are working with the Carbon Trust to encourage consumers and companies to reduce emissions.<br />