A new report has shed some light on the economic benefits of the Tottenham Hotspur Stadium to the borough of London, with close to £1bn generated thanks to the venue.
The development of the state-of-the-art facility has put Tottenham on the map in the world of football, with the club now possessing one of the most attractive and lucrative venues in the sport.
Since it opened its doors officially in 2019, the 62,850-seater stadium has proven to be a home worthy of a great football club. Now, Ange Postecoglou‘s team needs to achieve the kind of on-field success to match it.
From hosting music concerts and other sporting events, to being a part of the UK and Ireland’s bid to host 2028, it’s no secret that the Tottenham Hotspur Stadium is a big deal.
Tottenham Hotspur Stadium’s true value revealed
With a focus on the 2021/22 season – the first in which Spurs had use of the stadium for the full season – it’s suggested the stadium contributes “around £900m of gross output to London’s economy.”
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To put this into perspective there was £344m GVA (gross value added) to the boroughs of Haringey, Enfield and Waltham Forest alone. This greatly surpasses the “£120m per annum generated by the old White Hart Lane stadium.”
The report claims Tottenham Hotspur hope to “nearly double” that GVA by 2026/27, with a target contribution of £585m for the “tri-borough economy.”
On the stadium’s positive impact, Levy said: “Delivering tangible benefits to those living on our doorstep has always been a driving factor since we initially undertook the stadium development project – four years on from the stadium’s opening, this report clearly shows the difference it is making to people’s lives and the economic prosperity it is bringing to our community.”
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Well, that’s a lot of money, isn’t it? No matter what you say about Levy and the board, the stadium is one thing they got absolutely right.