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Tottenham could blow Man United out the water with £150m business deal
Tottenham could one-up Man United with a money-spinning commercial move worth £150m-plus.
🌺Man United are currently undergoing a makeover under the part-ownership of Sir Jim Ratcliffe, who bought a 27 per cent stake in the club for £1.2bn in February.
𓂃As well as freshening up the squad with additions like Leny Yoro, Ratcliffe is trying to find efficiencies behind the scenes and ensure that the club is living up to its earning potential.
Some of the measures he have taken have proven hugely controversial, such as the decision to make 250 United staff redundant earlier this summer.
🦄However, one less contentious area he has zeroed in on is the stadium.
𒈔Old Trafford has been in need of renovations for some time, with the nadir coming when TV cameras showed rain water pouring in through its roof after defeat to Arsenal in May.
This is one of the reasons why the Ratcliffe 🎶regime is exploring redevelopment or, potentially, a full rebuild of the historic stadium.
💃In terms of their home ground, Spurs are at the other end of the spectrum.
🅰Their 62,000-seater stadium built on the site of White Hart Lane is widely considered one of the best in the world and generates £100m-plus in matchday income every season.
🐼And the latest developments further illustrate the advantages of having such an illustrious stadium.
Spurs could gazump Man United naming rights deal
Daniel Levy꧟, Ratcliffe’s opposite number at Spurs, eulogised about the potential financial benefits of a naming rights deal when they moved to the new stadium in 2019.
🐲When Todd Kline was hired as chief commercial officer, his self-professed top priority was to secure a top-quality naming rights deal.
However, Kline has now left Spurs for Chelsea𓂃 and the club appear no closer to welcoming a partner for the stadium.
𒁃Levy has said that the benefits of having the club’s own brand associated with the stadium, which is clunkily called the Tottenham Hotspur Stadium, are bigger than they initially thought.
♛But it is hard to believe that the reputational advantages outweigh the raw cash that a naming rights deal would generate.
𒈔And the latest analysis from finance industry experts appears to support that conviction, suggesting that Spurs’ naming rights are worth just over £15m per season.
෴Over the course of a minimum ten-year deal, that would be worth £150m to Tottenham.
🌸Significantly, that is more than United’s naming rights, which Kroll estimate are worth £12.85m annually.
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TBR Analysis: Spurs have competition for naming rights deal
𝄹Never in Premier League history have so many clubs been seeking a naming rights deal.
United ꧋are believed to be courting potential sponsors in this department, while West Ham’s London Stadium and Everton soon-to-be-new home at Bramley Moore Dock are also in need of a partner.
ꦕThe value of Spurs’ rights will be bolstered by their geography, with London clubs able to charge premium prices.
ওThe fact that they stage many events besides football – NFL exhibitions and Beyonce concerts, for example – also opens doors that the other stadia simply cannot.
However, with every passing year without a deal, the value of Spurs‘ naming rights decreases.