Tottenham Surpasses Chelsea in Wealth Despite Todd Boehly’s £1bn Spending Spree
Since Todd Boehly took over as Chelsea owner in 2022, he has spent more than £1 billion. However, despite this large expenditure, Chelsea is not considered the richest club in London. Their rivals, Tottenham Hotspur, have surpassed them in wealth due to their new stadium. The 62,000-seater arena, where the club played their first competitive game in April 2019, has been host to various events aside from football, including concerts by well-known artists and NFL games. Additionally, the stadium is scheduled to host rugby union finals. This has contributed to Tottenham’s rise to the status of the eighth richest club in the world, generating £549.2 million last season despite not playing Champions League football.
According to Sam Boor, a director in Deloitte’s Sport Business Group, Tottenham’s increase in value can be attributed directly to the stadium. The club has fully leveraged and monetized the stadium for increased match-day income and commercial activities. The venue also features over 60 food and drink outlets and tourist attractions such as stadium tours and the Dare Skywalk.
As a result of Tottenham’s increased revenue, Chelsea has fallen to ninth place with revenue of £512.5 million, and Arsenal is a place further back with £463.1 million. Both clubs trail behind Real Madrid, who lead the list with £710 million in revenue. Despite the financial boost, Daniel Levy, chairman of Tottenham Hotspur, continues to face criticism from sections of the fan base for the lack of trophies during his tenure.
