New data indicates that the new £1bn (€1.12bn/$1.26bn) stadium for Tottenham Hotspur will top the business rates charts for football venues in 2019, even surpassing Wembley.
The Premier League football club will likely pay up to £3.7m in non-domestic property tax this year, which is higher than any other UK sports club, after tax officials said the ground had a rateable value of £7.19m.
Such bills are calculated on a rateable value, which is determined by the Valuation Office Agency assessing each business premises in the country.
According to official data calculated by rates specialist Altus Group, the London club’s new 62,062-seat stadium surpassed Arsenal’s Emirates Stadium, which has a rateable value of £6.13m, as well as other top-tier teams including Manchester United at £6.1m for Old Trafford, Manchester City’s Etihad Stadium at £4.65m, and Liverpool’s Anfield with a rateable value of £4.4m.
West Ham United will only pay £282,942 in rates for the exclusive office and retail space it uses, while the London Stadium owner E20, a joint venture between the London Legacy Development Corporation and Newham Council, pays the £1.6m rates bill.
Sunderland has the highest rateable value outside the Premier League for its Stadium of Light venue at £3.53m.
Robert Hayton, head of UK business rates at Altus Group, which calculated the data, said: “Rateable values for football stadia and grounds are calculated using gross receipts, rather than local property values based on what league the club play in at the relevant [valuation date].
“Historically the financial success or otherwise of a club closely follows its performances on the field, but in recent times the ability to attract a wealthy financial backer has been just as important in a club’s ambition to grow.”
The club’s former ground White Hart Lane had a rateable value of £2.5m, which has shot up 200 per cent following the redevelopment.
Tottenham’s new stadium, which hosted its first-ever game in April this year, includes its own microbrewery and cheese room.
Image: Tottenham Hotspur
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