View: NFL renewal further proves the financial power of the Tottenham Hotspur Stadium
There is no doubt that the Tottenham Hotspur Stadium has been a commercial success for the club since it was built, and the latest deal with the NFL only reinforces that point.
As reported by Forbes (5 June 2020), the Tottenham Hotspur Stadium cost £850million to build. That is a lot of money. And of course, it could perhaps have cost even more than that.
Nonetheless, the financial benefits of the modern ground – which looks something like a spaceship tucked away among the hustle and bustle of Tottenham’s local businesses – cannot be ignored.
From concerts to boxing to the NFL, and of course football itself, the stadium has seen it all, and more importantly, has been built to host it all. This is clear after the NFL decided to extend their agreement with Tottenham to host matches there.
As reported by The Evening Standard (14 September), Spurs are set to host NFL matches through to the 2029/30 season after the club agreed on a deal to continue its partnership with the American football league. They will host at least two regular season games per year between now and the autumn of 2029.
The NFL invested £10million into the building of the stadium and now pays a rental fee to Tottenham for each match, while the North London club also benefit from the sale of food, drink and merchandise at those games. In addition to this, should the naming rights of the ground ever be sold, having the NFL brand attached to the stadium would only increase the value of those naming rights.
This is just one example of how the club, who are able to host 16 concerts/major sporting events at the ground each year, are benefiting from the appeal of their stadium. Beyonce, one of the biggest artists on the planet, chose the venue for her world tour earlier this year, demonstrating how appealing it is to various stakeholders.
Events such as these would have never been an option at the old White Hart Lane, and Spurs are now reaping the benefits of the move. Their latest financial reports, posted to the official club website (10 February) show that their total revenue for the year ending June 2022 increased by more than £80million, from £361.2million to £444million.
Commercial revenues saw an increase of 20.7 per cent, with one of the reasons for this being described as “the start of new major events being hosted at the stadium throughout the year”.
Due to the COVID-19 pandemic, these events would have begun later than Daniel Levy and the board envisioned, but now that they have started, they are showing no signs of slowing down. In fact, it is terrifying to think just how much the stadium would have already generated if not for those two unfortunate years.
As a result, it is only a matter of time until that staggering £850million is paid off.
In other Tottenham news, the club’s women’s team have named a brand-new captain ahead of the WSL season getting underway.