Nov. 10 (Bloomberg) -- Tottenham said the sales of strikers Dimitar Berbatov to Manchester United and Robbie Keane to Liverpool produced a record 56.5 million-pound ($94.5 million) profit on player sales for the London soccer club last year.

The team, which bought Keane back just six months after selling him, said it also spent a record 119.3 million pounds on talent during its turbulent campaign last season.

Spurs fired Spanish coach Juande Ramos last year after the worst league start in its history. His replacement, Harry Redknapp, helped the club reach the Carling Cup final and recover from last place to eighth by the season’s end.

Tottenham had record net income of 23.2 million pounds on sales of 113 million pounds in the period ended June 30, according to a regulatory filing. Sales were 1.5 percent lower than a year earlier when revenue reached a record 114.8 million pounds.

Ramos spent millions bringing in Croatian midfielder Luka Modric, Russian striker Roman Pavlyuchenko and midfielder David Bentley. Redknapp was given further funds in January to sign Jermaine Defoe, Wilson Palacios and re-sign Keane. Sebastien Bassong, Niko Kranjcar and Peter Crouch were among the players to sign in the offseason as Spurs shelled out a further 29.4 million pounds.

“We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League,” Spurs chairman Daniel Levy, said in a statement. Tottenham is fourth in the standings after 11 matches. If it can remain there it would have a chance to reach Europe’s elite Champions League for the first time.

Cup Games

The U.K. recession has hurt merchandise, corporate hospitality and sales of tickets for cup games.

“Aside from investing in the first team squad, we took the pre-emptive steps of reducing our operating costs in advance of the downturn in the economy and this has held us in good stead during this difficult economic period,” Levy said.

Tottenham has submitted plans for a new 60,000-seat stadium on a site adjacent to its current White Hart Lane home. Much of the development costs of the project have been met by Enic Plc, the club’s 71.3 percent owner that’s controlled by billionaire investor Joe Lewis.

Trying to raise money during the “worldwide recession has made the task of funding the new development all the more challenging and we are working on a number of projects that may provide funding streams to assist the development,” the club said in the accounts. It has yet to announce a date for when the stadium will be completed.

The club has said it will sell the naming rights to the new stadium and is also planning a hotel, residential and commercial developments around the site to help fund the project.

Spurs has started to search for a new shirt sponsor to replace Mansion. The online casino operator’s 34 million-pound contract, which started July 2006, ends this season.

“Our commercial team is talking to companies in different corners of the world regarding the shirt sponsorship along with the opportunity to sponsor our proposed new stadium,” the club said.

To contact the reporter on this story: Tariq Panja in London at tpanja@bloomberg.net.

Last Updated: November 10, 2009 06:27 EST