Naming rights deal collapses

[mawspurs]

Tottenham have suffered a major blow in their bid to finance their new stadium following the collapse of negotiations over a naming-rights deal, according to the Times.

Source: This is Futbol

 

[coy-spurs1882]

everything's in a mess isn't it

 

[Amo]

From behind The Times paywall
No deal for Spurs
Tottenham Hotspur’s decision to announce that their redeveloped ground will begin life as the Tottenham Hotspur Stadium when it opens next month follows the collapse of negotiations with HSBC over a naming-rights deal. Mark Tucker, the HSBC chairman, had expressed interest in the bank becoming a naming-rights partner at the new stadium, but it was unable to agree a figure with the club’s chairman, Daniel Levy.


The pair have previously done business together, as Tucker was chief executive at the AIA Group when the Asian insurance group became Tottenham’s shirt sponsor in 2013, a partnership that has since been extended until 2022. Despite Tucker’s enthusiasm for the project, others at HSBC felt that the bank’s brand was more suitable to its existing sponsorship arrangements in rugby union and golf, rather than football.

 

[Japhet]

Explains a lot.

 

[double0]

I trust Daniel to get the best deal for the club

 

[Fredo]

Levy can't even agree a sponsorship this window lol

 

[double0]

Levy can't even agree a sponsorship this window lol

but he has delivered on the training ground the new stadium, Poch and our key players have signed improved contracts. Not bad

 

[Llord Flashheart]

In fairness it says that others in HSBC wanted to keep sponsorship in the realms of rugby union and golf.... not sure Levy can do much about that other than take a shitty package from HSBC that is totally in their favour to persuade the other HSBC board members to sign up.
Levy will get the right deal, of that I'm confident. Better to get the right one in due time surely.

 

[Metalhead]

I trust Daniel to get the best deal for the club

He's going to be under a lot of pressure now to get a deal done asap. It'll be interesting because sponsors will feel like they are in the driving seat.

 

[tiger666]

Explains a lot.

What does it explain?

 

[Metalhead]

In fairness it says that others in HSBC wanted to keep sponsorship in the realms of rugby union and golf.... not sure Levy can do much about that other than take a shitty package from HSBC that is totally in their favour to persuade the other HSBC board members to sign up.
Levy will get the right deal, of that I'm confident. Better to get the right one in due time surely.

Certainly can't blame him if they felt that the deal wasn't viable for their own commercial interests. Not sure how long he will want to wait for the right deal to come along but I don't know anything about the repayments of the stadium financing and how much it was dependent on the naming rights deal. I do trust that he would have planned for all eventualities but whereas I thought that sponsors would be lining up to offer deals, I wonder now whether they will feel that they can call the shots.

 

[ostrov]

No drama... how media want to portrait it.

 

[Haddock]

Nothing to see here. Naming rights are huge deals. Levy is just waiting for the right deal to emerge - which is exactly as it should be.

 

[chico]

one door closes another will open.....simples

Levy has built a world class stadium, personally I would have thought that it will be easier to get a great deal once the media are raving about the stadium and the atmosphere created in it.

I'm a little more concerned about signing a few top class players to give Poch a genuine chance to compete.

 

[SlickMongoose]

Just call it White Hart Lane. Less money but more happiness.

 

[Gb160]

So first it says they couldn't agree a deal, then it says others at HSBC thought it was more suitable for rugby/cricket etc.

So which was it?

 

[whitesocks]

It is interesting that Arsenal got £100m upfront from their sponsor = about £150m in today's money.
And the ITKs said there would be oh £150m available upfront for transfers this window.
This amount is no longer available it seems, and the sponsor that again financial ITKs have said repeatedly was in the bag, no worry, is also no longer available.

I wouldn't have thought the final price of the sponsorship would be worked out as the stadium was being opened - surely an investment that large would need a year of budgeting in advance, and surely a sponsor would want to cash in on the construction publicity. But Levy taking things to the wire is hardly a shock.

 

[DJS]

The toilet duck stadium!!

 

[abibgdon yid]

Suspect this is more about sponsors not wanting to be associated with the stadium given all the rumours of it not opening in time. Once opened am sure sponsors will be flocking in given the high profile football/NFL and other concerts and events that will take place at such a futuristic and customer focussed environment.

 

[Chris_D]

Just call it White Hart Lane. Less money but more happiness.

I'd love to call it white Hart Lane, in fact I probably will whatever the official name. That said in this day and age the price of having a new stadium, which we really need, is that you have to name it after some corporate sponsors. It's a big part of paying for the new ground so it's important we strike a good deal. It also doesn't have to be done on day one, we could get one next year if needed. We need someone to drive a good deal and that sounds like a job for Levy.