Robbie Keane: New arrival (DavidCannon/GettyImages)

Hoddle only just beat the season's first deadline last week to purchase striker Robbie Keane from Leeds for £7million having seen earlier bids for Brazilian ace Rivaldo, Real Madrid's Fernando Morientes, Bolton's Michael Ricketts and Chelsea's Eidur Gudjohnsen all fail.

With free-transfer signings Jamie Redknapp and Milenko Acimovic the only high-profile arrivals at White Hart Lane since the end of last season, the Spurs board were facing familiar accusations of a 'lack of ambition' until the late swoop for Keane.

But now chairman Levy, the head of ENIC plc who own a controlling 29.9 per cent of the club, has revealed that they have turned last year's £3.5million trading loss into a £900,000 pre-tax profit this time. And he is ready to earmark more funds for Hoddle's squad-building plans.

Levy, in statement to shareholders, said: 'We have worked hard with Glenn to ensure a balanced squad but we do not feel we have fully achieved this yet even though we have made good progress.

'This summer has seen a very challenging market-place but while the next transfer window is not until January we will still work diligently to ensure we have a squad capable of success.'

Tottenham's accounts, published today, do not include the £7million for Republic of Ireland World Cup star Keane which will probably be paid to Leeds in two instalments. Also not included are the signing-on fees paid to Redknapp and Acimovic.

In the last financial year, however, it is revealed that Spurs paid a total of £16.7million in transfer fees for Dean Richards, Gus Poyet, Christian Ziege and Goran Bunjevcevic, recouping £6.3million for the sale of Luke Young to Charlton and Ian Walker to Leicester.

The inevitable hike in staff wages lifted Tottenham's operating costs from £43million a year ago to £47million but an increase in turnover from £48million to £65million, thanks largely to the huge rise in value of the Premier League's television deal with Sky Sports plus new club sponsorships from sports kit manufacturers Kappa and holiday firm Thomson.

Meanwhile, Keane's Tottenham and Republic team-mate Gary Doherty has told Leeds they may have made a major error in letting him leave Elland Road.

'I know just what Robbie can do,' said Doherty, whose link with Keane goes right back to their days in the Ireland Under-17 side. 'And to be honest he's a hell of a signing for us.

'At Leeds, the manager (Terry Venables) seems to prefer Mark Viduka, Alan Smith and Harry Kewell up front but for me Robbie is a real class act, a fantastic player.'

Another newcomer whom Spurs boss Hoddle soon expects to catch the eye is 18-year old Belgian midfielder Jonathan Blondel, snapped up from Royal Excelsior Mouscron in the summer.

The captain of his country's Under-19 side, Blondel won his first Belgian senior cap two weeks ago and made his Tottenham first-team debut as a late substitute in Saturday's 2-1 win over Southampton which took them top of the Premiership.

Hoddle says: 'Really he's one for the future and being a slightly-built player he'll need time to adjust to the Premiership.