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Tottenham Case

In: Business and Management

Submitted By laurasd
Words 4662
Pages 19
9-209-059
REV: MARCH 23, 2009

LAUREN COHEN JOSHUA COVAL CHRISTOPHER MALLOY

Tottenham Hotspur plc
In early 2008, Daniel Levy, chairman of Tottenham Hotspur Football1 Club, was contemplating a bold move for the organization, one that he hoped would help vault the team into the upper echelon of the English Premier League (“Premiership”). Despite the club’s long and storied history, Levy felt that the team’s future success likely required a significant investment in physical assets, notably the development of a new stadium. Tottenham currently played in an old stadium called White Hart Lane with a capacity of only 36,500 fans, but had the opportunity to build a new stadium on some adjacent property. Most of their key competitors, such as Arsenal, Manchester United, and Chelsea, had newer or larger stadiums, and were able to leverage the added revenues these stadiums provided to gain a competitive advantage in the cutthroat player acquisition market. Levy had to decide if the benefits of a new stadium were worth the substantial commitment of time and resources that its construction would entail.

Background
Founded in 1882, the Tottenham Hotspur Football Club was one of the oldest teams in the Premiership. Its rich history featured a successful product on the pitch, as evidenced by major trophies in each of the past six decades--a feat matched only by Manchester United, and a series of innovations off the pitch as well. The club became the first publicly-owned football club in England when it listed on the London Stock Exchange in 1983, and was also the first to introduce corporate hospitality boxes at their stadium. Since 1981, the team’s main shareholder had been ENIC International Ltd, an investment company established by Joseph Lewis. Daniel Levy, Lewis’s partner at ENIC, had served as chairman of the club since 2001, after ENIC bought a controlling...

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