Tottenham Hotspur have overtaken Manchester City to become the most valuable club in the Premier League according to a recent study, as the low wages they pay their players and the commercial opportunities arising from their new stadium have helped blow their rivals away.
Despite losing their way this season and not winning a trophy since 2008, Tottenham did manage to reach the finals of the Champions League for the first time in their history last year while also ensuring they have finished in the top-four for four consecutive years.
A study by the Football finance experts at the University of Liverpool found that Tottenham’s low wage budget and improved on-field fortunes have helped increase their value, while the addition their new £1billion stadium, has helped in drawing in significant commercial income.
“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 million lower than the rest of the ‘Big Six’,” said Kieran Maguire, who is part of the University’s Centre for Sports Business Group, as quoted by Mirror.
“As such they made more profits, and this was reflected in the final valuation number. These factors led to a 21 per cent increase in income, to £461m for Spurs in 2018-19, against an unbelievably light 39 per cent player wage cost – the lowest ratio in the Premier League. “
City who topped the table last season, dropped to second after seeing a decrease in value to the figure of £2.86m, while Manchester United dropped to third with a valuation of £2.080m.