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Finance

Stadium revenue helps Spurs top £500m turnover milestone

Tottenham Hotspur Stadium

Featured image credit: Matt Brown / CC BY 2.0 / Edited for size

Tottenham Hotspur Stadium

Featured image credit: Matt Brown / CC BY 2.0 / Edited for size

Tottenham Hotspur was boosted by its growing non-football business as revenue surged during the most recent financial year.

The Premier League club reported year-on-year revenue growth of 24% to £549.6m during the year to June 30, 2023.

The largest segment was commercial revenues, which accounted for more than a third of the total at £227.7m. This includes sponsorship, merchandising and other revenues such as third-party events, visitor attractions and conference and events at Tottenham Hotspur Stadium. The segment grew by 24% year-on-year from £183.5m in 2022.

The club picked out NFL, boxing, rugby and music concerts as major contributors to its non-football revenues. Highlights included hosting Beyonce, Red Hot Chili Peppers and Wizkid.

“All of the activities at the stadium are designed to create diversified sources of revenue which can then be invested in our principal core activity, football,” the club added in a statement.

Multi-use stadium

Within other segments, match receipts were up to £117.6m from £106.1m. This, the club said, is “a critical revenue stream for the security of the stadium debt”.

UEFA prize money was £56.2m compared to £10.2m in the prior year as the club reached the UEFA Champions League Round of 16.

TV and media revenues were £148.1m, which was up slightly on £144.2m in 2022.

Chairman Daniel Levy said: “Our turnover has exceeded half a billion pounds for the first time. Whilst UEFA monies contributed, this has also been driven by increased stadium revenues from both football and non-football events and additional revenue streams.

“This is the impact of our multi-use stadium and what our board has been focussed on delivering in order to invest in our football in a financially sustainable manner. The absolute priority for our club is to deliver on-pitch success.”

The club said it expects commercial revenues to rise from third-party events this year, although this will not compensate for the lack of European football in 2023-24. Its performance will be aided by the “unrivalled facilities at our multi-use stadium”.