Tottenham expects their brand-new 61,000 seater stadium to elevate them to the next level. However, the club has had to undergo severe financial restrictions in order to facilitate the construction of this stadium. It is reported that Spurs will have spent around £700 million by the time it is complete for the 2018-19 season. The club hopes to recover much of the money by the sale of houses at the existing White Hart Lane. The gate receipts will be doubled as the White Hart Lane only has a capacity of 35,000 odd fans.
White Hart Lane is also limited in terms of the hospitality that it can offer. Hospitality packages will form a major chunk of the revenue from the new stadium. However, one of the biggest sources of funds will be provided by the naming rights. It has been revealed that Spurs have been in negotiations with rideshare company Uber since July over the prospective naming rights for this new stadium.
Arsenal were the top club to bring this kind of venture, as allowing Emirates with the naming rights brings the club around £30 million per season. Spurs are not in the same commanding position as Arsenal at the moment, and the naming rights for the new stadium is expected to fetch around £20 million per season. It is reported by ESPN that Spurs have struck a deal with Uber for the next 6 to 15 years. Still, it represents a sizeable income as Spurs could earn a maximum of £300 million just from naming rights alone.
Even with all the additional income, Spurs may have to be extremely prudent in the transfer window over the next few years. Until a significant chunk of the debt is paid away, Spurs may have to do without signing extravagant and marquee names. Arsenal were able to benefit from the presence of Arsene Wenger during the precarious times, as the Frenchman managed to maintain the club’s Champions League status while also being hugely prudent. The club is now reaping those benefits, as they are capable of signing a £50 million a player every season just on the back of the stadium income.
Luckily, Mauricio Pochettino seems like the manager with all the ‘Wenger qualities,’ as he has been able to make Spurs a top four contender without splashing the cash. Pochettino is also proving that last season was not a flash in the pan, as Spurs have been able to maintain their position in and around the top of the table.
The deal with Uber has still not been confirmed yet and it exists only as a rumour. Still, Spurs can always expect businesses to come up with £20 million per season to get their naming rights on one of the attractive stadiums going by the renderings.