Despite Tottenham Hotspur's record profits, the club is not expected to spend heavily in the transfer market in January.

Earlier this week, the club announced record profits of £33.4 million (US$55.7 million) for the year ending June 30, 2009. However, with the team riding high in the Premier League and two expensive projects coming up in the form of a new stadium and training ground, January player expenditure is expected to be minimal. The club is spending around US$50 million on its new training ground, which chairman Daniel Levy believes will be the best in Europe. The cost of the new stadium, meanwhile, has not been made public, but is believed to be in the region of US$400 million.

"I think there will be some trading in January. Whether we will be a net spender or a net seller is the chairman's decision, not mine," Tottenham director Sir Keith Mills told London's City AM newspaper on Tuesday. "If there is any activity, I think it will be quite small. I don't think there will be major changes."

"The object was to make sure we were in Europe this year, ideally the Champions League," he added. And I think we've got a great chance. We've got some quality in depth."

• Tottenham Hotspur's record profits a big boost to stadium plans

Tottenham currently sit fourth in the Premier League - a position that would bring qualification to the Champions League. Mills' confidence in the team is shared by his chairman. "We have assembled what we believe to be one of the most talented squads we have had during our time in the Premier League," said Levy earlier this week.

In August, Arsene Wenger, the coach of Tottenham's rivals Arsenal, warned of the dangers of building a new stadium. Arsenal have not won a trophy since moving to the Emirates Stadium in 2006. "It is not easy to build a new stadium and remain where you are," said Wenger. "Look at all the clubs who have built new stadiums and where they are now: Derby County; Leicester City; Coventry City; Southampton. They all went down."