Tottenham Hotspur's hopes of securing a world-record naming rights deal for their stadium are in major doubt due to the effect of the coronavirus pandemic, according to UK media, reports, www.sportspromedia.com/.
The Premier League outfit moved into their UK£1 billion (US$1.2 billion) home 12 months ago, with chairman Daniel Levy opting to bide his time in the search for a lucrative naming rights partner for the stadium.
According to the Daily Telegraph, Levy had been hoping to tie up a naming rights package worth as much as UK£25 million (US$30.7 million) per season over 15 years, which would've seen Spurs pocket a world record UK£375 million (US$460 million).
According to the Telegraph, Levy's lofty ambitions will now be impossible to achieve because of Covid-19's impact on the global economy, adding that Spurs will have to reassess their asking price.
Prior to the coronavirus outbreak, US-based consulting firm Duff & Phelps valued naming rights for Spurs' stadium at UK£17.5 million (US$22.42 million) a year.
It is not yet clear if Levy will look to force through a reduced deal in the current climate or shelve plans until the sporting calendar resumes. The club had reportedly hoped to have an agreement in place for the start of the 2020/21 season.
