New info on £118m Tottenham plot as official statement issued
Statement issued. ????
The Tottenham Hotspur Stadium is a goldmine and will be Daniel Levy’s legacy at Spurs, but the arena has also sparked a number of controversies in North London.
The 62,850-seater arena is considered one of the best in Europe if not the world and has trebled Tottenham‘s matchday and commercial income since they moved in 2019.
What’s more, Levy and his peers in the Spurs boardroom managed to finance the stadium at a time of low interest rates, which are totally inaccessible in today’s economic environment.
Vacating White Hart Lane has been the single most transformative event in the club’s history, catapulting Spurs to global attention and cementing them among the financial elite of the so-called Big Six.
However, there are a core element of Tottenham’s bedrock fanbase that see the new stadium as emblematic of the club’s increasing commercial focus.
Spurs generated £550m in revenue in the last recorded financial year and some supporters believe that emphasis on the bottom line has come at the expense
When on examines Tottenham’s controversial new concessions policy, which essentially amounts to phasing out more affordable senior tickets, it is hard to argue that is not true at least to some extent.
And that contingent of supporters will point to the latest story involving Spurs and UEFA to validate their convictions.
Tottenham respond to UEFA controversy
Tottenham generated £118m through the turnstiles in 2022-23, the last season for which financial data is publicly available.
Alongside Chelsea, Spurs also generate more money per fan than any other club, according to research from Sports Business Institute Barcelona.
But it appears Spurs are not prepared to stand still as they look to compete with rivals Man United, Arsenal and Liverpool who can also expect to generate £100m-plus every season from matchday income.
Last week, it was reported that Tottenham had voted against a new cap on away ticket prices voted by UEFA for its club competitions – the Europa League, in Spurs’ case.
The cap, which has now been passed, limit clubs to charging £51 in the Champions League and £17 in the Conference League, while Spurs’ ceiling for away tickets in the Europa League is now £34.
However, as has been relayed by a number of outlets, Spurs have responded with an official statement, saying: “It is factually incorrect to state that there was a vote on this matter at the UEFA Club Competitions Committee. It is therefore entirely inaccurate to say that the Club voted against ticket price caps.”
But The Athletic’s Matt Slater has now reported that, while the matter did not go to a vote, Spurs did voice their opposition to the new price cap at the committee meeting.
They are believed to be one of several clubs to do so, although their resistance did not amount to any kind of formal action.
The Tottenham Hotspur Stadium, naming rights, Euro 2028, and the Champions League final
Tottenham will host Euro 2028 matches, which will guarantee them a modest hosting fee and catering proceeds up to £1m, but the true benefit will be to the Spurs ‘brand’.
The same principle applies to Spurs potentially hosting the Champions League final.
They have also been granted a new license to stage double the number of football events they can host per year, which are worth eight figures to the club after costs on an annual basis.
A naming rights deal continues to elude them, however.
TBR Football understands that Spurs originally wanted more than £20m per year for their naming rights but there has been little interest at that price.
And with no chief commercial officer currently in place as Todd Kline sees out his gardening leave before he joins Chelsea, it seems that ambition is on ice or the time being.
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