Tottenham’s emergence as one of Europe’s growing powers is paying dividends off the field, with the club now placed among the top 10 richest football clubs in the world.
Spurs overtook Italian giants Juventus to take 10th place in Deloitte’s Football Money League 2019, as revenue leapt to €428.3m (£379.4m) last season from €359.5m in 2016-17.
The club’s maligned move to Wembley while their new home is built at White Hart Lane was a key factor in their increased income, with the larger capacity at the national stadium leading to a 54 per cent increase in matchday revenue to €85.2m (£75.5m).
Commercial revenue also rose 44 per cent as Tottenham began benefiting from a new kit deal with Nike.
Having effected a power shift in north London in footballing terms, Spurs are also close to overtaking local rivals Arsenal in monetary terms, with the gap slashed to €11m (£10m).
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West Ham United
The Gunners were the biggest fallers in the Money League, down three places to ninth, as revenue fell markedly to €439.2m (£389.1m) from €487.6m (£419.90m).
Arsenal’s failure to maintain their Champions League presence resulted in significantly lower broadcast income and contributed to overall revenue falling for the first time since 1995-96.
With Tottenham into the Champions League last 16 and Arsenal consigned to the less lucrative Europa League again, Spurs’ turnover could eclipse that of their neighbours as soon as this year.
“If you look at the growth rate that Spurs have achieved in the last couple of years, there’s a real possibility that they could catch and overhaul Arsenal in next year’s edition,” said Deloitte’s Sam Boor.
Capacity restrictions at Wembley this season and the delay in moving to their new home could dent Tottenham’s matchday revenue in the short term, but the project is expected to provide “significant growth” once complete, Boor added.
Chelsea, the third London team in the top 10, ranked just above Arsenal and Tottenham in eighth place after they enjoyed a sizeable increase in revenue to €505.7m (£448.0m) from €428.0m (£367.8m).
Broadcast income rose 26 per cent upon the Blues’ return to the Champions League, while commercial revenue increased 22 per cent as a new kit deal with Nike took effect.
West Ham slipped three places from 17th as revenue fell four per cent to €197.9m (£175.3m) but they retained their top 20 status for a third edition of the Money League in succession.
The Hammers are tipped to hold on to that position or climb if they finish in the top half of the Premier League.