Tottenham Hotspur stepping up their bid to land £500m naming rights deal for stadium
According to The Sun, Tottenham Hotspur are set to step up their bid to find a partner for a naming rights deal for their stadium, which has remained unnamed since it opened in 2019.
Currently called the Tottenham Hotspur Stadium, the club has used the venue as its venue for the past three years. The biggest club ground in London, the arena has been touted to be one of the finest football stadiums in the country with its impressive infrastructure and facilities offered to fans.
Now, it is said that Spurs are locked in talks with several potential suitors over a long-term naming rights deal, possibly for around 20 years. The team is expecting revenues that come to £25m-a-year from this potential deal.
The stadium recently hosted the first-team squad for a Premier League game against Everton, as the home crowd was treated to a 5-0 rout of the Toffees as the team continued their winning run in the league.
New name for Tottenham Hotspur Stadium
Tottenham are said to have always harboured the idea of selling the stadium’s naming rights to a partner to rake in more revenue. However, the economic downturn due to the pandemic and the recent Ukraine crisis has caused uncertainty, with club officials said to have low expectations about finding a blockbuster deal.
Before the COVID outbreak, the club was in talks with several blue-chip firms and global brands including Nike, Federal Express, and HSBC. Their current shirt sponsor AIA was also said to be in the mix for a naming deal for the stadium.
Naming rights for club stadiums are not new in the Premier League, with Brighton’s Amex Stadium or Arsenal’s Emirates Stadium examples of top-flight clubs finding partners for their home grounds.
Having spent £1billion on their current venue, the club is looking at ways to recoup the money as they identify sponsors to rename the ground. They have even looked at non-football events to rake in the money and find partners, including rugby games and music concerts.
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Apart from making money for their stadium construction costs, a high revenue stream is also needed to improve the first team and sign quality players in the transfer market. If the club manages to strike a deal with a sponsor before the summer, then manager Antonio Conte may get a possible transfer boost when it comes to available funds to sign reinforcements to his squad.
Given that the COVID situation is slowly coming under control, perhaps we can be optimistic about Tottenham finding a sponsor who is willing to pay a big sum for a naming rights deal. This is not something that will be done overnight, so patience is key in this regard to see this come through in the near future.
