Tottenham Hotspur is hoping to secure naming rights for their stadium, and it appears as though they’re heading in the right direction. According to Football Insider, the north London club has hit a new step with talks carried over an agreement worth up to £500-million.
Spurs announced a loss of £84-million after tax in their most current set of financial results, and acquiring naming rights for the stadium would open a vast new potential revenue stream.
The report adds that the Tottenham board is waiting for a possible naming rights partner to pay for a deal worth £25m-a-year. Furthermore, Tottenham had anticipated that a 10-year agreement with any naming rights partner could be the most reasonable to secure that type of deal.
However, Football Insider adds that Spurs now believe that negotiations have taken place with one company over a potential 20-year deal to secure the finances they want from this agreement.
The north London club wants to pay off the £600-million debt collected from the expenses of the £1.2-billion stadium complex that opened in 2019. But, up to now, no organization has been willing to spend the £25-million that Tottenham has made their condition clear.