Finance expert says Spurs are now ‘the most profitable club in Premier League history’
Football finance expert Kieran Maguire has said that the way the Tottenham Hotspur Stadium has been monetised by the Lilywhites has made the club the envy of every other side in European football. Tottenham incurred a considerable cost to build their new stadium, which was raised at the same site as the old White Hart […]
The post Finance expert says Spurs are now ‘the most profitable club in Premier League history’ appeared first on Spurs Web - Tottenham Hotspur Football News.
Football finance expert Kieran Maguire has said that the way the Tottenham Hotspur Stadium has been monetised by the Lilywhites has made the club the envy of every other side in European football.
Tottenham incurred a considerable cost to build their new stadium, which was raised at the same site as the old White Hart Lane, with the project costing the club over £1 billion.
The team had to play at Wembley for almost two full seasons when the stadium was being built, but the club are now reaping the benefits of that sacrifice having also had to deal with the impacts of covid restrictions.
The stadium has become a huge cash cow for the North London side, partly owing to its unprecedented offering of food and beverages during match days.
The venue was also designed with a retractable football pitch, with an artificial playing surface sitting underneath, which has meant that the stadium has also been used for NFL, rugby, and other sporting events and concerts.
Last week, Tottenham revealed on their website that they have received planning permission for the development of a 180-room hotel on the campus of their stadium, which will further add to the stadium’s revenue-generating potential.
Source: THFC (taken from planning committee notes)
New hotel development will benefit Spurs financially
On the back of the recent development, Maguire has praised the long-term vision of the club’s hierarchy, which has now put them in a strong financial position.
When asked about Spurs’ plans to build a hotel, he told Football Insider: “Spurs continue to have a long-term strategy in terms of revenue maximisation. It is the envy of pretty much every other Premier League club and also elsewhere in European and domestic football.
“The hotel on the campus will assist in terms of growing revenue. I’m sure they will have good cost control just as they have across the rest of the business.
“So this adds to their ‘every little helps’ approach which has seen them sign lucrative deals with the NFL, Formula 1, Beyonce, stadium tours and so on. These are all elements that have made Spurs the most profitable club in Premier League history.”
Spurs Web Opinion
A section of the Spurs fan base will always be cynical about the club’s business model and will continue to suggest that the owners only care about profits.
While all businesses are ultimately guided by the profit motive, the stadium has secured the club’s financial health for many decades to come.
The benefit for the local community and the boost to the local economy have also been significant due to these project, while having the ability to stay at a hotel following a late evening fixture will be a welcome addition for many fans, especially given the transport issues which are often experienced.
Have something to tell us about this article?
The post Finance expert says Spurs are now ‘the most profitable club in Premier League history’ appeared first on Spurs Web - Tottenham Hotspur Football News.