Tottenham’s decision to build a new 62,850-seater stadium was the single most transformational moment in the club’s near 150 year history.
Spurs’ annual matchday income stood at £126m at the last count and has more than trebled since their last season at White Hart Lane, their old stadium on the same site. Commercial income over the same period has risen from £59m to £277m, an increase of 370 per cent.
Okay, revenue increases have not translated into sustained success on the pitch. In fact, Spurs have gone backwards in the last few years. Last season, they only beat Premier League relegation on the final day.
But their regression is down almost entirely to sub-par recruitment and a historically disjointed sporting operation, not the finances. And if and when Tottenham get their act together in that department, their commercial and matchday income will give them a remarkable foundation on which to build.
Ultimately, if Spurs get things right on the pitch, there are only a handful of clubs who can compete with them in the transfer and wage markets.
The non-football events that they host at the Tottenham Hotspur Stadium are, it is no exaggeration to say, one of the main drivers here. And with the announcement that legendary rapper Jay-Z will perform in N4 in September, the money will continue to flow.
Tottenham to make millions for Jay-Z gig
Spurs don’t specifically disclose their revenue or profits from concerts in their accounts. However, the increase in commercial income since the move to the Tottenham Hotspur Stadium tells its own story.
Research from Goldman Sachs suggests that Spurs made £55m in 2023-24 from hosting non-football events, like Jay-Z’s concert, tickets for which go on sale on Friday.
But since then, Spurs have been granted a license to dramatically increase the number of concerts, NFL matches and the like that they are allowed to stage, from 16 to 30 per year. Using the Goldman Sachs data and applying it pro-rata, that suggests Tottenham can expect revenue in excess of £100m annually.
Not all of that is profit, mind.
Jay-Z’s tour promoters will pay Tottenham a fee to use the stadium, after which the club takes a cut from concessions. But Spurs have to bear the costs of staging the events – utilities, stewarding and so on.
Still, Spurs have previously briefed that they expect a seven-figure return for a sold-out show.
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