Finance expert Kieran Maguire has claimed that Chelsea being sold for £3 billion would be fantastic news for Tottenham, given that the North London club could be even more lucrative to potential investors.
Tottenham are now thought to be more for sale than they have ever been, with ENIC and Daniel Levy valuing the club at £3 billion (The Athletic).
Roman Abramovich is set to be forced into a quickfire sale of Chelsea after the UK Government imposed sanctions related to Russia’s invasion of Ukraine (Football.London).
The Blues’ sale is now thought to be edging closer, with the number of prospective candidates now whittled down to just three (I News) but it remains to be seen what price the West London club is sold for.
The Daily Mail reported two weeks ago that Daniel Levy is keeping a close eye on Chelsea’s sale and is worried that a cut-price deal could impact the future sale of Tottenham.
However, Maguire believes that if Chelsea are sold for big-money, that could increase Spurs’ value, given the club’s larger earning potential than their London rivals.
When asked about the impact of Chelsea’s sale on Tottenham, Maguire told Football Insider: “The reason it would have a knock-on effect is because of transaction comparables.
“It’s broadly the same as valuing other large assets. The biggest asset most of us will sell is a house.
“How do you determine what a house is worth? You do your research and make adjustments on the basis of other houses.
“So if Chelsea goes for £3bn, you ask what do Spurs have that Chelsea haven’t? They’ve got a multi-function stadium, but they don’t have trophies.
“You use Chelsea as your base level and start to add beneficial or detrimental factors to determine the price. But, in my view, if Chelsea go for £3bn, that is absolutely fantastic for Spurs.
“If you are benchmarking against Chelsea, Levy can say they have got a bigger, more modern ground, some of the best training facilities on the planet.
“All they need now is perhaps a different strategy with regards to recruitment and retention. But Spurs have got better wage control.
“In 2020, they generated £41m more in matchday than Chelsea, and that was in a curtailed season. In a full season, I’d expect it to be closer to £50m.”
Spurs Web Opinion
There is no question that Tottenham will be one of the most lucrative clubs in the world for investors, given that they are in London and the earning potential of the stadium. That is why I do not think Levy and ENIC would be in a hurry to find a buyer and will wait for a mega offer, even if it takes many years to arrive.
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