Tottenham Hotspur are the most valuable Premier League outfit, according to analysis conducted by University of Liverpool football finance expert Kieran Maguire.
Despite a lack of silverware in 2019 and forking out a monstrous £1bn on a state-of-the-art stadium, Spurs have leapfrogged both Manchester clubs due to a combination of many factors.
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Not even their Champions League victors and top-flight front-runners Liverpool can match the financial exploits of the north London side.
Maguire came to the final result by crunching numbers publically available from Companies House and used a valuation method based on the Markham Multivariate Model. He said:
“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’. As such they made more profits, and this was reflected in the final valuation number.”
Kieran Maguire, University of Liverpool.
Spurs chief Daniel Levy has overseen a 21% increase in income, rising to £481m against a light 39% player wage cost, which is the lowest ratio in the division.
For comparison, Leicester City, currently third in the Premier League, see 84% of their income eaten up by player wages.
The north Londoners also only spent a net £22m on signings, only Watford spent less whilst their rivals considerably more – Chelsea (£290m), Liverpool (£223m), United (£135m) and City (£87m).
Ultimately, it is Spurs’ tight control over wages and player transactions that set them apart from the rest in the Premier League, especially in comparison to the rest of the ‘top six.’
This campaign hasn’t gone to plan whatsoever with Jose Mourinho’s side out of all cup competitions and have sunk well adrift of Champions League qualification in the top-flight.
Maguire believes this could be a case of their “low cost-base catching up with them”.
If the season does resume anytime soon, the Portuguese boss will be left with it all to do to turn around their fortunes. The fight for fifth is hotly contested and they are some seven points behind fourth-placed Chelsea.
For more on the findings, head to the University of Liverpool’s Management School and to Maguire on Twitter.
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