Tottenham look to finalize naming rights deal for their stadium.
Tottenham are continuing their search for a stadium naming rights partner after hiring Alex Scotcher as their new commercial director, with former Manchester City financial adviser Stefan Borson revealing the club want a “massive” deal worth up to £25 million annually.
The Telegraph reported that Scotcher will join Spurs in January from US-based sports consultancy firm Elevate, where he was senior vice-president of global partnerships for over three years. Scotcher previously worked on naming rights deals for Everton and Valencia, with Everton’s Hill Dickinson agreement reportedly worth £10 million per year.
The appointment signals Tottenham’s owners are looking to end their long wait to find a naming rights sponsor for their 62,850-capacity stadium, which opened in 2019. Spurs have missed out on six years’ worth of revenue after failing to reach an agreement with any interested parties.
Speaking exclusively to Football Insider, Borson explained why Tottenham have struggled to secure a deal despite years of negotiations. He said (h/t Football Insider):
“Spurs are going to be looking for upwards of £20m a year, maybe £25m a year on a 10-year basis, so it’s a massive contract,” Borson said. “The market has spoken so far and said they don’t want it with the best will in the world. They might have been prepared to take it at £10m or £15m, but they don’t want it at £25m.”
Borson emphasized that Tottenham have taken a firm stance on their asking price. He stated:
“Spurs have taken a view that these are virgin naming rights and don’t want to give them away for a value that they perceive to be lower than their value. There are lots of analyses that say that it’s worth £25m, but that’s highly subjective and, ultimately, the market decides.”
“It’s probably been on the market now for seven years. Maybe two or three years before the stadium opened, they were looking for a naming partner. All of the likely bidders for those naming rights will have looked at it. You’re now going back to either people who have already rejected it or new brands.”
Financial Impact
Spurs’ latest published accounts for 2023-24 revealed their commercial income increased from £228 million in 2022-23 to £255m, helping Tottenham generate the fifth-highest revenue in the Premier League with a turnover of £528 million for 2023-24.
A successful naming rights deal at Tottenham’s target valuation would represent a significant commercial milestone, though Borson’s analysis suggests the club may need to moderate their expectations to finally secure a partner.