Naming rights for Tottenham Hotspur's new stadium are worth UK£17.5 million (US$22.42 million) a year, according to new research from US-based consulting firm Duff & Phelps, reports, www.sportspromedia.com/

The venue, which currently has no naming rights, cost UK£1 billion (US$1.28 billion) to build, finally opened towards the end of the last Premier League season and recently hosted its first two National Football League (NFL) regular-season fixtures.

"Somebody has to come and make really significant commitment and that narrows down the list of potential partners," he said. "Some businesses will not be able to make such a long commitment nor have the quantity of money to make that investment. So it's a long process to find that partner.

"The way that we approach it, naming this building is the legacy of our board. [The stadium] is going to stand for another hundred years, it's like naming your child - you want to be proud every day walking into that building.

"So the industry sector, the brand within that sector, these are things that tell you about the kind of business you are. Naming rights is really about demonstrating permanence, ambition and status. You factor all of these things into your consideration and the list of prospects isn't that long."

Duff & Phelps' study, conducted in the third quarter of 2019, uses metrics such as publicly available information on shirt sponsors, technical partner values, social media followers, TV rights and current naming values, in addition to team performance over seasons, to calculate naming rights valuations.