There is no doubt that ENIC International, the investment company owned by billionaire Joe Lewis, would sell Tottenham Hotspur if the price was right. The original plan when he took control in 2001 was to sell within three years. Whether he can get the near £1 billion he wants is another matter.
There is no doubt that ENIC International, the investment company owned by billionaire Joe Lewis, would sell Tottenham Hotspur if the price was right. The original plan when he took control in 2001 was to sell within three years. Whether he can get the near £1 billion he wants is another matter.
The difficulty is White Hart Lane. The ground has a great feel and atmosphere and I have always enjoyed visits there. However, the area has its challenges and the transport links are not great. That is why Spurs have considered moving to other locations in the past, but eventually decided to opt for redevelopment. To succeed, however, that also requires spending on the regeneration of the area.
One of the broader issues is how important matchday revenue now is to a club. Arsenal’s matchday revenue at the Emirates is now three times that of Spurs because of the greater capacity and the availability of corporate entertainment areas. Arsenal’s matchday income in 2012-13 was £93 million while Spurs, with a 36,000 full house, generated £33m.
Yet matchday income is declining in relative importance as a share of a club’s revenue. With another television bonanza due in 2016, those revenues have become more important, while Manchester United have shown just how much can be earned through commercial sponsorship.