A new report analysing government figures has revealed details of the rising business costs facing Premier League clubs, with Tottenham Hotspur’s expecting the largest stadium bill.
The report, carried out by business rate experts Altus Group, draws on information relating to the rateable value of a property, in this instance, the football stadiums each Premier League club plays at, and takes capacity and attendance into account when calculating the tax bill.
In the Autumn Statement from the government, Chancellor Jeremy Hunt said he would look at the valuation of business properties from April 2023 in an effort to ensure bills ‘accurately reflect market values.’
While retail stores have seen a drop in their bills, the rising amount of money in sports will see an increase in bills.
The rateable value is determined by the Valuation Office Agency and the Premier League will be hit pretty hard by these new figures due to “all the riches” involved in the English top flight now.
According to the details shared by This Is Money, the “rateable value of the 20 Premier League grounds now stands at £75.7 million, up 49% since the 2015 valuation of £50.8 million.” An Altus Group spokesperson said: “football clubs are being hit with massive tax rises next year.”
Clubs that were promoted since 2015 have seen their bills increase significantly, with Leeds United’s Elland Road having the biggest increase in its rateable value, going up by 315%, from £369,000 to £479,000 a year. Similarly, Wolverhampton Wanderers and Brighton and Hove Albion have seen their rates rise by upwards of 250% too.
It’s Tottenham Hotspur who will foot the largest bill though, due to the state-of-the-art Tottenham Hotspur Stadium. The ground opened its doors in April 2019, and is widely regarded as one of the best football venues in the world.
With a capacity of 62,850 (TottenhamHotspur.com), and the revenue gained from the new stadium, Spurs will have “the highest rateable value” of any Premier League club, coming in at more than £10.3 million. This equates to “a bill of £4.8 million.”
Spurs Web Opinion
It’s understandable that with the best stadium, comes the highest costs when the tax man comes knocking. That’s the price to pay, but with the money the stadium generates, we’re sure it shouldn’t be an issue for Daniel Levy and co.
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