Spurs are sitting pretty but £6.7bn deal suggests tougher times ahead

The Premier League's broadcasting deal is still lucrative, but Tottenham Hotspur appear well protected should the TV bubble start to burst...

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Tottenham Hotspur could be among the best-positioned Premier League clubs to cope with any financial strain should broadcast rights fail to continue on an upward trajectory.

Spurs moved into their 62,850-capacity home in 2019 after making the decision to leave White Hart Lane some years before. The motivation behind the move was to maximise revenue potential and commercial benefits of both a matchday and also additional non-football events, such as the NFL series that is held at the stadium.

The move has seen revenues climb considerably at Spurs, and they have positioned themselves as one of the most financially robust clubs in Europe, with matchday revenue growth having risen 118% between 2014 and 2023, from £42m to £118m.

That increase is by far and away the highest increase across the Premier League’s biggest clubs, expectedly given that Spurs moved to a completely new bespoke stadium.

It is important, too. Spurs have been able to maximise the commercial aspects of their new home to yield greater financial returns, and despite not being shoo-ins for Champions League football and the riches that come with it each season, they have managed to generate significant revenues across the board, meaning the reliance on broadcast has been to a lesser extent than many in the Premier League.

The Tottenham Hotspur Stadium has given Spurs some vital breathing space.

The Premier League as a whole has a huge dependency on the revenues that it brings in from broadcasters. The current domestic rights, just entering a new cycle, were agreed at a £6.5bn price over four years, for 270 games per season. The international rights, which are in the process of tenders for the next cycle, were most recently at £5bn for three years.

That money gets pooled and distributed across the clubs via central funding, with 50% split equally, 25% based on the number of television appearances with a stipulated minimum amount (facility fees), and 25% based on where that club finishes in the league (merit payment).

Those broadcast revenues are what has supercharged the Premier League’s growth as a global brand and ensured that even the teams in the lower reaches can stand to make more money from TV than some teams battling for Champions League places in other major European leagues. The transfer fees, the wages, and the agents fees have all risen as a result of the Premier League’s access to plentiful cash, and that has seen the transfer market boom.