Finance wizard Kieran Maguire says he is “blown away” by the new Tottenham Hotspur Stadium — it’s an architectural and budgetary triumph.
New Football Insider columnist Maguire gave his assessment to correspondent Adam Williams as the £1billion stadium lies dormant amid the ongoing coronavirus lockdown.
Tottenham took out a £175million loan from the Bank of England to account for lost revenue over the pandemic period, including the absence of matchday income.
And the loss of that gargantuan revenue stream has highlighted just how lucrative the 62,000-seater stadium will be in future seasons.
Maguire says the new ground is a masterstroke from all involved, and while it’s difficult to estimate exactly how much they will earn going forward as they are yet to enjoy a full season with fans in the arena, it will certainly be a huge increase on their takings in their White Hart Lane days.
“At White Hart Lane, they were probably getting around £30m to £35m matchday revenue a season, and that’s when they were getting Champions League qualification,” Maguire told Football Insider.
“Champions League qualification increases the number of matches. The way to think about it is looking at matchday income as the number of matches multiplied by your capacity multiplied by your average ticket price.
“While Spurs’ capacity is lower than Manchester United, the average ticket price is much higher. It’s a more modern stadium, they’ve got more facilities for the prawn sandwich brigade.
“I’m a bit cynical about these things but I went there to watch Brighton play and I was just blown away by the place. It’s geared to empty your pockets. We laugh about the way that the pints are poured, but that speeds things up so they sell more pints.
“When they’ve got the NFL matches, it’s not £5 a pint, it’s £10 a pint. Everything is set up to lighten wallets. You’ve got to give them a lot of credit. They have thought everything through extremely strategically.”
Spurs moved into the new stadium in April 2019, with Son Heung-Min scoring the arena’s first goal in a 2-0 win over Crystal Palace.
Their new home, the arrival of Jose Mourinho and the re-signing of Gareth Bale make Daniel Levy’s intentions clear as day: to turn Spurs into a globally recognised brand.