Finance expert praises Daniel Levy for £80m increase in key revenue stream
Football Finance expert Kieran Maguire has pointed out that Tottenham’s matchday income has gone up many folds since their move to the Tottenham Hotspur Stadium...
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Football Finance expert Kieran Maguire has pointed out that Tottenham’s matchday income has gone up many folds since their move to the Tottenham Hotspur Stadium from White Hart Lane, praising Daniel Levy for his vision.
Last week, Spurs released their 2022-23 accounts and the numbers painted a mixed picture of the club’s current financial health.
The club had posted revenues of £549.6m which is the highest in their history and the first time the number had crossed over half a billion, which included a record-breaking £117m in matchday revenue.
However, they also made a significant loss of £86.8m over the financial year, bringing the total losses over the past three years to £232m.
That was down to the increase in operational costs, with Tottenham spending more on wages than Arsenal for the first time in their history.
Tottenham Hotspur Stadium is a money machine
Maguire pointed out that the revenue from matchdays has gone up a whopping £80m since Tottenham left White Hart Lane.
He told Football Insider: “Yes, the new stadium has made Tottenham competitive. In terms of matchday revenue, they have increased the figure by £80million.
“They have borrowed money to get it done, but credit has got to be given to Daniel Levy and his team. They borrowed money at very low-interest rates on very long terms.
“You can also take into consideration the benefits of the bigger commercial deals, the ability to sell to the NFL and the ability to monetise the stadium over the summer.”
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Tottenham had no choice but to leave White Hart Lane for a bigger stadium in order to be able to compete with the elite over the long term and that is something Levy realised a long time ago.
The likes of Everton, Aston Villa and even Chelsea are now facing the same problem after the Premier League’s decision to strictly implement PSR and it is going to be extremely difficult for them to stay competitive while their stadium is being re-designed.
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