Tottenham Hotspur are preparing to launch an ambitious bid to boost their revenues and international appeal through hosting one of world sports most iconic events, it has been claimed.
Like many clubs across world football, Spurs have been negatively impacted by the financial pressures caused by the pandemic, but the North London side have been feeling it more than most after Covid-19 meant that they couldn't monetise the asset which they have placed so much emphasis on for the club's future success - the stadium - to the levels that they had expected.
The Tottenham Hotspur Stadium, as it remains known until a naming rights deal that matches what Spurs want arrives, is one of world sport's most state-of-the-art arenas, the cost to build it around £1bn. It was set to open up a number of new money-spinning revenue streams that other Premier League clubs don't have access to, such as hosting two NFL games per season in a 10-year, £40m deal, while concerts and boxing world title fights have all been part of the plan.
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The pandemic forced concerts in 2020 and 2021 to be cancelled, and Anthony Joshua's fight against Oleksandr Usyk took place in September of last year with Joshua having seen his bout with Kubrat Pulev shelved at the same venue in 2020 due to Covid.
Spurs are trying to keep pace with Liverpool and the rest but their reliance on their new home to deliver has impacted them significantly.
The club made a pre-tax loss of £80.2m for the 2020/21 financial year, with debt rising from £605m to £706m during the same period, with much of that associated with the significant build cost of the Tottenham Hotspur Stadium.
Liverpool's own investment into bricks and mortar has raised their revenues, with the Main Stand redevelopment and the forthcoming Anfield Road End work meaning that matchday revenues are on course to push beyond the £100m mark in the next couple of seasons as capacity is increased and demand for tickets serviced, as well as additional revenue streams that arise from commercial opportunities. Matchday revenues currently stand at around £84m in a normal season.
Liverpool have been able to generate big revenues by leveraging both success on the pitch and also their position as one of world football's most iconic clubs. And while the record turnover fell from £533m to £490m from 2019 to 2020, revenues are set to continue to rise through the coming season as the club continues to grow and a number of lucrative contracts, such as the Nike kit deal, start to make an impact.
The situation for Spurs is different.
Tottenham's overall revenue for the period was down to £361.9m from £402.4m and despite an increase in money generated from television and media - up by almost £100m from £95.2m to £184.4m - profit from operations dropped to £97.1m from £115.3m as a season played behind closed doors took its toll on finances.
Spurs chairman Daniel Levy is reported to be holding out for as much as £400m from a 20-year deal to sell the naming rights to the stadium. There have been no takers at that price yet.
But with the NFL connection already in place, Spurs are launching an ambitious attempt to hold the first ever Super Bowl outside of America, according to the Daily Mail.
The Super Bowl is one of the most watched individual sporting events on the planet, and the NFL have hinted that they may be willing to break with tradition and hold the showpiece event outside of the USA from 2026.
The next four Super Bowl host cities have already been confirmed, with Sunday's clash between the Los Angeles Rams and Cincinnati Bengals to be held in Inglewood, California, with the following three going to Glendale, Arizona, Las Vegas and New Orleans.
Host cities are determined through a bidding process similar to that of World Cups, with the NFL claiming that the potential revenues for hosting the games can be as much as £300m, although that doesn't factor in the cost of lobbying for the game or the huge costs that can be incurred by hosting such an event.
For Spurs, who are exploring the option of extending their deal with the NFL to host regular season games, it represents a chance to generate vital revenues that they will hope start to turn the tide and begin to make the stadium a profitable asset for the club.
Spurs' financial operation has certain similarities with Liverpool, with the focus on building an infrastructure and supporting on-field success through the growth of the club as a business. But they haven't been able to match what Liverpool have done on or off the field, and Liverpool's strategic approach to recruitment has left Spurs trailing.
But with Anfield's own makeover continuing, and Fenway Sports Group having been looking at exploring options to host other events at the stadium to bring in revenue, Spurs' new stadium does offer what the Reds cannot.
FSG are set to bring the very lucrative NHL Winter Classic ice hockey game to the home of their Boston Red Sox, Fenway Park, and those kind of one-off spectacles can yield great financial success. And as the world opens up once more and seeks to move beyond Covid, maximising those kind of opportunities on both sides of the Atlantic will be high on FSG's agenda.
