Tottenham posted a world-record net profit of £113 million in 2017/18 but costs for the club's new stadium rose above £1 billion, annual accounts showed on Thursday.
Spurs opened their state-of-the-art 62,000-capacity home on Wednesday with the hope that increased matchday revenue will help the club compete financially with their Premier League rivals.
Much of that has been financed by loans. Spurs owed a total of £461 million, although the club have since extended their loans by another £100 million.
Net profits nearly tripled from £36 million in the previous year.