Tottenham Hotspur have made a signing that they hope will see them close the gap on the financial performance of their rivals.
Spurs have handed the role of chief commercial officer to Todd Kline, the American set to begin work in London next month with the goal of landing a lucrative deal for the naming rights of the Tottenham Hotspur Stadium at the top of his ‘to do’ list.
After spending big – £1bn for that matter – on their new 62,850 seater state-of-the-art home stadium the north London side have yet to be able to agree a deal for the naming rights on the complex, with Spurs chairman Daniel Levy seeking around £25m per year for what would be one of the most valuable naming rights deals in world sport should a multi-year agreement be reached.
The heavy investment in the stadium has been seen as key to Tottenham’s desire to overtake the rest of the Premier League’s ‘big six’ and the financial strength that they possess as a result of their, on-pitch success, branding and commercial activity.
Last month saw Liverpool enter the top five of the Deloitte Money League for the first time since the 2001/2002 season, the Reds ranking fifth in world football’s revenue generation stakes with £490m last year.
Champions League success in 2019 and a Premier League title certainly aided that success but there were also a number of key commercial partnerships that developed during the same time to positively affect the balance sheet at Anfield.
One thing that does seem off limits is to try and monetise the naming rights for Anfield, something that while commercially valuable would be met with a large degree of ire by many. A bridge too far.
The same could be said of Manchester United and Old Trafford, a name synonymous with the football club, just like Anfield and Liverpool, where even the Glazer family haven’t yet dared to tread.
Arsenal’s move to a new stadium in 2006 allowed them to seek sponsorship free of the shackles of tradition and historical significance, the same for Manchester City at the Etihad Arena.
Spurs, so long associated with their old White Hart Lane home, have the same freedom when looking to monetise their hugely expensive but likely enormously lucrative new home, a home that, with its retractable pitch, allows them to generate further cash by hosting NFL games in London, a major money spinner.