Chelsea owner Todd Boehly might have spent more than £1billion since taking over the club but the Blues aren’t considered the richest club in London. In a development that will frustrate fans at Stamford Bridge, they have been surpassed in wealth by rivals Tottenham Hotspur due to their new stadium.
The club played their first competitive game at the 62,000-seater arena in April 2019, having temporarily used Wembley Stadium after moving out of White Hart Lane. And since then, the venue has been home to considerably more than just football.
Guns N’ Roses, Beyonce, Pink, and Lady Gaga have all held multiple concerts at the stadium, which has also hosted NFL games. And in May, both the EPCR Challenge Cup and Investec Champions Cup rugby union finals are also scheduled to take place there.
And according to the latest Deliotte Football Money League, the extra revenue has helped elevate Spurs to the status of eighth richest club in the world. Under Daniel Levy, they generated £549.2million last season, despite not playing Champions League football.
Sam Boor, a director in Deloitte’s Sport Business Group, directly attributed the stadium to Tottenham’s rise in value. “A huge reason for Tottenham’s growth is the club being able to fully leverage and monetise the stadium, both in terms of the match-day income and the commercial activities,” he said.
The venue also boasts more than 60 food and drink outlets in a bid to produce a ‘vibrant’ street food scene. Tourist attractions like stadium tours and the Dare Skywalk’ have also increased income.
Chelsea are now down into ninth place with revenue of £512.5m, with London rivals Arsenal a place further back with £463.1m. All three Premier League sides trail in the wake of leaders Real Madrid though, who top the list with £710m.
Manchester City are second on £705.6m, a figure undoubtedly boosted by them winning the FA Cup, Premier League and Champions League. Paris Saint-Germain, Barcelona and Manchester United make up the remainder of the top five.
Despite the financial boost, Levy continues to be criticised by sections of the Tottenham fan base for the lack of trophies during his tenure. Having taken over in 2001, the 2008 League Cup win – ironically over Chelsea – signifies the only silverware during his reign.