- Tottenham Hotspur is the new most valuable Premier League club
- Spurs displaced Manchester City from the number position at the end of the 2018/19 season
- The north Londoners were able to achieve the feat owing to the limited cash they splashed out on signing and lower-wage bills compared to others
Tottenham Hotspur has displaced Manchester City as the most valuable Premier League club according to a recent study published by SunSport.
The north Londoners made it through to their first-ever Champions League final last season only to be beaten by their rivals 2-0 at the end of the game.
Jose Mourinho's men have not won any trophy in a decade but have consistently finished among the top four teams in the last few years.
However, despite their failure to lift any major title over the years, the Lilywhites have been doing well financially according to football finance experts at the University of Liverpool Management School.
Their reports show that Spurs' low budget and improved on-field fortunes were the two reasons for their improved financial standing.
They added that the opening of their new stadium worth £1 billion attracted significant commercial income.
Kieran Maguire, who is part of the University’s Centre for Sports Business Group, 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."
There are no changes in the list of top six teams as Manchester United ranks third most valuable EPL team, while Liverpool, Arsenal and then Chelsea.
Wolverhampton Wanderers are the next most valued team after the above-mentioned clubs in England in the season under review.
According to the report published by the Mirror, Tottenham's revenue increased by 21 per cent, totalling a sum of £461million at the end of the 2018/19 season.
Chelsea expended a total of £290 million in the transfer market, in a season following the signing of Jorginho (£50m), Kepa Arrizabalaga (£70m) and completed a deal for Christian Pulisic (£57m).
The Reds followed closely with net expenses of £223m, ahead of Man Utd (£135m) and Man City (£87m).
Despite their financial buoyancy, Tottenham signed up for the Government's furlough scheme amidst the coronavirus pandemic and this brought a lot of criticism.
No fewer than 550 non-playing staff were enrolled for the programme, thereby allowing them to cut their wages by up to 80 per cent.
The club later withdrew from the scheme after severe public criticism.
The enforced break caused by the crisis will still significantly harm Spurs' finances.
Maguire added: "Club values will take a considerable hit. There are fewer potential buyers in the market and greater uncertainty in terms of clubs' ability to generate income.
"We have seen the share prices of clubs with shares quoted on the stock exchanges, such as Manchester United and Juventus, fall by 20-30% since the start of the year.
"This is likely to be greater for smaller clubs who don't have the marketing and reputational might of the well-known brands."
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