A recent study conducted by football finances expert Kieran Maguire and the University of Liverpool has named Tottenham as the most valuable club in the Premier League, ahead of Manchester City, Manchester United and Liverpool.
The study shows how Tottenham’s low wages and 'highly commercial stadium’ have seen the club bump its value up to £2.567billion – an increase of just under £700m in a year. Maguire said: “Spurs are top of the valuation table because in 2018/19 they delivered a Champions League final and a top-four Premier League finish on a wage budget that was £100-150 m lower than the rest of the 'Big Six’. As such, they made more profits, and this was reflected in the final valuation number.”
He continued: "Paying just 39 per cent of their income in the form of wages gives Spurs a significant boost, and their ability to keep wages so relatively low is the envy of many other club executives.” Spurs spent £179m on wages, just over half of Manchester United's £332m outlay over the same period."
But whether this achievement is sustainable in the future, with a low return in terms of on-pitch success (Spurs have lifted just one trophy in over 20 years – the League cup in 2008) remains to be seen. This could be further compounded by the loss of Champions League football should they fail to qualify this season – at the suspension of the 2019/20 season they sat in 8th position on 41 points, seven away from fourth-placed Chelsea. Although this could be offset somewhat by the potential naming deal of the stadium, with Amazon rumoured to be leading the way.
Maguire also adds that his findings don't bode well for the Premier League as a whole, with the 2018/19 season showing a collective loss of £384m. The impact of the coronavirus, which is not included in the study, is a further concern.
