Daniel Levy is in advanced talks over a deal for the naming rights of the Tottenham Hotspur Stadium.
That’s according to a report by the Daily Mail, who claim that the Spurs chairman is believed to be nearing a deal which could see the Tottenham Hotspur Stadium gain naming rights for the 2021/22 season and beyond.
The report added that the stadium has so far been without sponsorship since its opening back in April 2019, something which has begun to significantly impact the club financially, particularly as the £1.2bn complex endured an extended spell lying empty due to the restrictions as a result of the ongoing pandemic.
It is finally mentioned that the club lost £63.9m for the financial year ending 30 June 2020 and are already more than £600m in debt, largely as a result of the cost of building the stadium.
With Spurs very much feeling the financial strain that events over the last 16 months have caused for football clubs, the news that their state-of-the-art stadium looks set to receive sponsorship is undoubtedly a fantastic boost for the club, as the income generated will help ease the aforementioned financial strain.
Indeed, with a report by consultancy firm Duff & Phelps finding that Tottenham’s new stadium could potentially command a fee of around £17.5m per season, this amount of money could either be put towards a new signing, or add roughly £335,000 per week to the club’s wage budget.
Another way the money could be spent is by offering some of the club’s current stars more lucrative contract renewal offers, something which could well be enough to convince a number of first team players to remain at the club rather than looking for juicier deals elsewhere.
As such, while Tottenham are yet to make a move in the transfer window, Daniel Levy could well be about to proceed with one of the most important deals of the summer in the near future, something which should have their fans buzzing.