Tottenham enjoyed bumper financial profits thanks to their sale of Gareth Bale to Real Madrid.

The London Evening Standard says Spurs, who are owned by the Bahama-based billionaire Joe Lewis, saw profits soar from £1.5m to £65.3m last year after selling the 25-year-old Welshman.

The club used the money to fund a £108m spending spree under former manager Andre Villas-Boas, including big-money signings such as Erik Lamela, Roberto Soldado and Paulinho.

However, according to a spokesman for the club, these purchases were not included in the latest profit figure. More details will be revealed when the full annual accounts are published next month.

"This financial period saw major changes to the squad," chairman Daniel Levy said. "We continue to devote our energies to delivering a new home for the club in Tottenham. It has been rewarding to see the progress and growth now being made both on and off the pitch and we look ahead with realistic optimism."