Finance expert thinks Spurs development will cause ‘huge jealousy’ among PL rivals
Football Finance expert Kieran Maguire has suggested that Tottenham’s agreement with Formula 1 will cause ‘huge jealousy’ among the North London club’s Premier League rivals.
Spurs announced last week that they have reached a 15-year strategic partnership with Formula 1, which will include the production of the world’s first in-stadium electric karting track.
The facility, which will be London’s longest indoor track, will be based below the South Stand of the Tottenham Hotspur Stadium.
The Times even subsequently claimed that the partnership between Formula 1 and Spurs might pave the way for a potential takeover of the club by Liberty Media, who acquired F1 back in 2017, and also own Major League Baseball team, Atlanta Braves.
Some experts, such as CEO of BDS Sponsorship, Richard Busby, have said this is a sign that Tottenham are taking significant steps towards eventually becoming a multi-sport club (Football Insider).
Maguire has now opined that this is further evidence of Tottenham’s home ground being a ’21st-century product’, which can be used to drive considerable revenue.
He told Football Insider about the agreement with F1: “I think Tottenham’s deal with Formula 1 is intriguing.
“It’s a long-term deal so you’d hope there are some potential step-ups in terms of sharing the success as well as mitigating risks.
“It is further evidence that Spurs and their new stadium are trying to leverage and monetise the property assets that they own.
“They made the design as flexible as possible to generate money on events other than matchday.
“This is further evidence of the Tottenham stadium being a 21st-century product. There will be huge jealousy from other big clubs looking at this project and this deal.”
Spurs Web Opinion
The only way a billion-pound expenditure on the stadium project made sense for Spurs is if the venue can be used for more than just football matches.
Daniel Levy’s long-term ambition has always evidently been making the venue home to London’s own NFL franchise.
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