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Arsenal could now gazump Tottenham as Josh Kroenke reveals £103m off-pitch talks

Adam Williams

Wed 31 July 2024 18:30, UK

Arsenal could soon have bragging rights over Tottenham in one key area.

Both Spꦓurs and Arsenal are currently on pre-season tours, of East Asia and the United States respecti♏vely.

The North London clubs can expect bank several million pounds from the excursions, which will kickstart revenues for the 2024-25 campaigns of around 𓄧£500m each. 

For Arsenal, £191m of media income reminded their biggest single reven💦ue generator over the last financial year. 

For Spurs, their £228m commercial income was their biggest source of revenue.

These figures are expected to have shifted byღ the time both clubs release their accounts for 2023-24, and again for 2024-25.

They do, however, provide an interesting snapshot of the business models employed by Daniel Levy and the Kroenke family.

Spurs’ turnover has exceeded Arsenal’s in recent years, thanks mainly to their new sta♏dium which has helped them creep above their rivals in terms of matchday income and sponsorship.

However, that could soon change.

Arsenal’s Josh Kroenke reveals Emirates expansion ambitions

Ahead of the Tottenham Hotspur Stadium’s opening, then-Arsenal boss Arsene Wenger ♑joked that the Gunners could add more seats to keep the Emirates the biggest in 💦North London.

The Emirates’ capacity is just under 61,000, while Spurs home ground is 6🐽2,850.

But while the capacities are only sl꧟ightly different, Spurs generate significantly more cash through the turnstiles.

That is thanks in part🍌 to the slick and innovative commercial and hospitality operati꧟on.

However, i💞t looks as though the balance could be redressed, according to comments mad♍e by Arsenal co-chair Josh Kroenke.

Speaking to , the KSE supremo said: “It would be premature to talk about any plans in depth, but the internal conversations are starting to occur about [the stadium].

“It is not an easy renovation, but we see the possibilities of what’s there.

“Our goal was always to compete for the Premier League title because if you look around the world, if you are competing for the title year-in, year-out, you are competing for everything else.

“What can our fans expect? Everything they’ve gotten in the last few years. We’re going to keep adding to the group. I know Mikel’s energy is through the roof in the best of ways. 

“In our women’s team as well, you see how women’s sport is taking off around the world. We are really excited about that part of the business.

“But as a club our main goal is to continue to make our supporters proud.”

Arsenal earned £103m from the Emirates at the last count, while Spurs mat🔯chday income was £118m.

But a revamp of the Emirates, replete with an expanded capacity and a greater emphasis on lucrative hospitaဣlity suites, would likely see them pull level with their rivals.

TBR Analysis: With Arsenal pursuing Mikel Merino and more, how does matchday income affect the transfer budget?

Arsenal are keen🌞 to capitalise on the momentum they have picked up in recent seasons to seize and advantage in the transfer market.

As expected, goalkeeper David Raya made his loan move from Brentford permanent earlier in the window and Ricard🌳o Califiori has now become Arsenal’s second addition of the summer.

Arsenal have plenty of room in terms of the Premier League and UEFA’s 🐟Prof🦹it and Sustainability Rules – as much as £100m, by some estimates.

But in an era when spendiღng is fused to revenue and profit, the Kroenke will be explo𒁃ring every opportunity to increase operating income.

It is 🎐therefore not surprise to see the chairman speak for the first time about expanding𒊎 the stadium.

Any upgrades would likely 🐟pay for themse🐓lf within four or five years and the costs would not count towards their PSR calculation.

That would allow them to fund signings and remain competitive in an increasingly saturated Premier League market, populated by elite clubs and growing pool or ambitious ups🥂tarts.

Mikel Merino is one target for Arsenal 🦂this summer.

And as any incoming signingsꦬ would be amortised over five years, the stadium plans꧂ could yet play a role in accounting for the Spanish midfielder’s cost.

The Merino, who star🎶red for Spain at Euro 2024, is valued at around £25m by Real Sociedad. 

In a new update, another one of Merino’s suitors, Atletico Madrid, now believe he wants to sign for ꧃Arsenal.