Tottenham are in talks with "prospective investors" after reporting losses of £86.8m in their 2022-23 accounts, says chairman Daniel Levy.
Total revenue increased by 24% from 2022 to a record-high £549.6m, with matchday income reaching a record £117.6m.
But they reported a loss for the fourth successive year following the 2022 deficit of £50.1m.
Levy stressed the need to "capitalise on our long-term potential".
"To continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base," he said.
"The board and its advisors, Rothschild & Co, are in discussions with prospective investors.