Liverpool (AFP) – On a former derelict dock in the British port city of Liverpool, fans of Everton throng eateries and bars at the football club’s new stadium ahead of a Premier League match. Across Europe, where income from all-important domestic television broadcasting deals has stalled or even collapsed, major football teams are revamping historic stadiums or building new larger grounds. This is propelling revenues thanks to improved hospitality, sponsorship and increased ticket sales — including for premium seating — according to a recent report from European football governing body UEFA.
For Manchester United, Barcelona, Real Madrid, Paris Saint-Germain and the two Milan giants, such costly projects are required to remain the world’s richest clubs. For others, such as Leeds United in northern England and Spanish team Getafe, upscaling is essential to stay competitive in major leagues where player transfer fees and salaries are huge.
– ‘Vast upgrade’ –
Everton moved in August to their £800-million ($1.1 billion) Hill Dickinson Stadium after 133 years at Goodison Park. “It’s such a vast upgrade,” Everton supporter Dave Brown, 71, told AFP as he prepared to watch the Toffees play Burnley in a ground with almost 53,000 seats, compared with just under 40,000 at Goodison. “Unfortunately, Goodison Park was tired with a number of places where you couldn’t see the whole pitch,” added the Evertonian.
Everton fans of all ages, adorned in the club’s blue kit, arrived for the game three hours before the evening kick-off at the stadium overlooking the River Mersey — enjoying food, drink and music, including on the outdoor Budweiser Plaza. “We have the opportunity of making this a 365-day a year venue,” Colin Chong, Everton’s chief real estate and regeneration officer, told AFP, with the northwest England club hosting international sporting fixtures, conferences and concerts at a ground built to deliver on environmental goals and acoustics.
“We were in a position where if we didn’t move, we couldn’t deliver the growth plans that the club needed if it wanted to compete again at the top end,” Chong added. Everton have secured a stadium naming-rights deal reportedly worth £10 million per year from local law firm Hill Dickinson. The ground is meanwhile helping to regenerate adjoining areas, by attracting new apartments as well as improved retail and leisure facilities.
– Broadcasting deals –
Stadium reconstructions are “becoming more important because of the situation with television media rights,” Manuel Gutierrez, vice president of European asset finance at Morningstar DBRS, told AFP. The Premier League secured a record £6.7-billion domestic deal to show live TV games from this season through to 2028/2029. However, the increase was far smaller compared with previous agreements, for reasons including decreased competition and digital piracy.
Across Europe, the picture is mixed, with Spain’s La Liga securing a solid increase for its next domestic television rights deal, while Ligue 1 in France has suffered a collapse in broadcasting income, partly blamed on PSG’s dominance on the pitch. Clubs embarking on massive stadia rebuilds are reacting also to changing habits among fans, according to Gutierrez. “Consumers are now more keen than ever on discretionary spending and football lovers want to spend now more time at the stadium,” he said.
Tottenham Hotspur’s move to a new ground in 2019 has resulted in the London club’s ticketing revenue surging more than 300 percent over 11 years to 2025, driven by premium, VIP and hospitality packages, UEFA noted.
– Mega rebuilds –
Everton’s rivals Liverpool completed a major revamp of their Anfield stadium one year ago, increasing the capacity to more than 61,000. East of the city, Manchester United are looking to build a £2-billion stadium for 100,000 fans. In Spain, Real Madrid and Barcelona have carried out 1.5-billion-euro ($2 billion) renovations of the Bernabeu and Camp Nou respectively. This has added more than 100 million euros to their fixed assets, the same as Everton’s gain, according to UEFA.
AC Milan and Inter Milan are reconstructing the San Siro, while PSG are planning to build a stadium that could surpass Stade de France’s 80,000 capacity. Yet however good the facilities, a supporter’s experience “very much depends on how the game goes,” said Brown. Everton’s 2-0 win against Burnley was their first at the new ground this year.
© 2024 AFP
