Comparative financial analysis: Tottenham v Manchester United - new stadium had massive impact on accounts

25 November 2020

Photo: PA Images

Last season and the one prior combined into quite the rollercoaster ride for Tottenham - after reaching the Champions League final and inaugurating their new stadium, they ended sixth in the Premier League and sacked Pochettino after five years in charge.

On Monday the club published their 2019/20 financial report, revealing a big loss, and the club's chairman, Daniel Levy, warned of an "irrecoverable loss of income" - about £150 million this season if stadiums are forced to remain closed.

Having just completed a new £1.2 billion stadium, the pandemic could not have come at a worse time. However, the Tottenham Hotspur Stadium has already proved its massive potential financially.

We have compared Tottenham and Manchester United in this analysis as the two clubs follow a very similar business model with operating metrics as the key driver for success.

Adding to the comparison is the fact that Manchester United have not made any significant refurbishments to their stadium in years.

Mads Meisner and Joseph Mailil, analyst

Although a quarter of last season was concluded behind closed doors, Tottenham still managed to increase their matchday proceeds by £13 million in 2020, showing that the new stadium eventually will pay dividends. Manchester United's income on matchdays was down £20 million in the same period. 

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