Tottenham Hotspur’s search for a sponsor for their state-of-the-art stadium has been ongoing since the opening of the Tottenham Hotspur Stadium in 2019.
With the cost of the stadium estimated at nearly £1 billion, it has become a hub for hosting various global events, including football, NFL, rugby, boxing, concerts, and more.
This has led to expectations that the club will generate up to £20 million per year from a stadium sponsorship deal, which is expected to be at least a 10-year contract worth at least £200 million over 10 years.
However, financial expert Kieran Maguire has issued a warning to Tottenham to be cautious in considering a cryptocurrency company as a sponsor.
He emphasized the significance of finding a long-term deal and the dangers of signing a deal with a company that may result in redundancies.
Maguire also highlighted the impact that naming rights can have on a stadium’s identity and the relationship between the club and its fans.
He used Bolton’s stadium as an example, which is still referred to as the Reebok, despite being officially known as the University of Bolton Stadium.
He told Football Insider:
“Spurs are still very confident that they are able to sign off on a deal.”
“Fans still call it White Hart Lane, but they are calling it the Tottenham Hotspur Stadium.
“It is absolutely essential that whatever deal is signed is long-term because it is that first name that always sticks in the eyes of supporters.
“Nobody calls Bolton’s stadium the University of Bolton Stadium, they call it the Reebok. That is reflected in the value of the naming rights.
“I think Spurs are still confident that they can find a deal, although it is a more precarious market than they perhaps had a year or two ago.
“That is due to the volatility of cryptocurrency and other related industries. They have to be careful if they sign off on a deal that is making people redundant. That could generate more negative than positive headlines.“
Tottenham currently does not have a sponsor and has been linked with major companies like Google and Amazon.
Despite this, the club’s chairman, Daniel Levy, is not in a rush to sign a deal as he continues the hunt for the perfect sponsor.
While a stadium sponsorship deal could be a substantial source of revenue for Tottenham, it is vital that the club approach any agreement with caution and consider the long-term impact.
The naming rights of a stadium play a crucial role in shaping its identity and the relationship between the club and its fans.
It is crucial that Spurs sign a deal with a company that aligns with the values and vision of the club and its supporters.