Tottenham Hotspur is reportedly advancing discussions for a roughly $655.8 million naming rights agreement for the $1.6 billion stadium it built in 2019.
According to Football Insider, the club is holding out for a deal worth $32.8 million per year for at least 10 years — a price that companies haven’t been willing to pay to this point.
Now, an undisclosed company has reportedly negotiated for a 20-year deal for naming rights to the stadium, which has a capacity of 62,000. Nike and Amazon were reported as top contenders for a deal in 2020.
Alasdair Gold, Spurs correspondent for football.london, said it “doesn’t appear if anything is close right now” but highlighted that the club has spoken to numerous interested parties. “If they could somehow get something tied up before the end of the summer it could be perfectly timed to boost their transfer funds.”
Worth the Wait?
It’s not clear how long the franchise would be able to hold out on securing a deal of that magnitude.
- In November, Tottenham posted a $106.9 million loss for its fiscal 2021.
- The club’s debt increased to $943 million from $808.1 million after 2020.
- Spurs’ UEFA winnings for the 2020-21 season fell from $68.4 million the year prior to $31.5 million.
Despite the losses, the team was able to grow its TV and media revenues 93.4% to $246.3 million during the year.