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Sources: Tottenham open talks over £500m naming rights deal
Tottenham’s stop-star attempts to secure a naming rights deal for their stadium has taken a new step with talks held over an agreement worth up to £500million, Football Insider understands.
Spurs announced a mammoth £84m loss after tax in their most recent set of financial results and regard a naming rights sponsor as a vast new potential revenue stream.
A Tottenham source has told Football Insider that the board have made it clear in extensive discussions with potential naming rights partners they are holding out for a deal worth £25m-a-year.
Previously, it had been expected that a 10-year agreement could be the best they could secure at that kind of cost.
But now negotiations have taken place with a one company over a potential 20-year deal.
The London club are looking to pay off the £600m debt accumulated from the costs of the £1.2billion stadium complex, which opened in 2019.
Tottenham have been careful not to give a name to the venue and, according to their website, it is just ‘The Stadium’.
That is to leave it clear for naming rights partners to secure the kind of association that Emirates and Etihad have with the Arsenal and Man City stadiums.
Up to now, no company has been willing to pay the £25m that Tottenham have made it clear is their requirement.
Chiefs led by chairman Daniel Levy have held discussions with various blue-chip companies.
Global technology giant Amazon and sportswear firm Nike have been reported as top contenders for an agreement which Spurs want to be the biggest of its kind in football.
There were reports Spurs could secure a naming rights deal before the start of this season.
But that has not proved to be the case, with finance expert Kieran Maguire telling Football Insider their failure to do so will reduce their potential to get a mega-bucks deal for this term.
The London giants are convinced their 62,000-capacity stadium will drive significant revenue growth – both commercially and for match days – in the coming years.
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