Elland Road expansion could offer huge fresh Leeds United income stream as £5m Tottenham Hotspur example set
Leeds United already boast one of English football’s most iconic stadiums but untapped potential is there.
The development and expansion of Elland Road could offer up fresh revenue streams for Leeds United with an improved capacity for non-football events to take place in a modernised stadium.
Leeds confirmed major plans to increase the capacity of their iconic stadium earlier this week, with a number around 53,000 mooted - a significant increase on the current 37,645 maximum. A phased construction of the North and West Stands is expected to put Elland Road in line with UEFA's Category 4 status, which is held by the elite modern stadiums in European football.
The YEP understands 49ers Enterprises have already committed to spending £10million to get plans to the point of planning approval, a number which is expected to rise significantly once spades are in the ground. And so the club’s owners, and the many shareholders involved, will be keen to see a return on that investment.
A large portion of that fresh income will come via matchday revenue, with more seats - over 15,000 - quite simply bringing in more money. There will also be increased capacity for premium seats in a revamped West Stand corporate area, but other avenues are available.
Elland Road has played host to a number of large-scale events in the past, from Josh Warrington’s 2018 IBF Featherweight title win over Lee Selby to the Kaiser Chiefs’ Centenary gig the following year. Rugby league’s ‘Magic Weekend’ was in LS11 last month and Rugby League World Cup fixtures took place there in 2022. But there is always opportunity for more.
Elland Road was omitted from the 14-strong stadia shortlist in the UK & Ireland’s Euro 2028 bid back in 2022, with the need for ‘direct, quick and sustainable travel links’ likely a key issue not only then, but for other prospective large-scale events. Improving transport links to the stadium is part of the plans, with the club involved in talks over an improved mass transit system and White Rose train station.
CEO Angus Kinnear has previously pointed towards the 60,000-capacity Tottenham Hotspur Stadium as the benchmark for revenue generation, with Tottenham estimated to receive around £5m per matchday. But another key income stream at Tottenham comes outside of match days, with their state-of-the-art ground becoming a go-to place for other major events, both sporting and non-sporting.
The north London club are currently in the middle of a 10-year agreement to host two NFL matches per year, while rugby union team Saracens use the stadium for one match per season. Both are thought to pay a significant ‘hire fee’ while also handing over a percentage of profits from food, drink and merchandise.
And the stadium’s recent use as a major concert venue has also brought millions into the club, with Lady Gaga, Guns N’ Roses and Beyoncé performing. Again, Tottenham receive a hire fee and can also take a cut of food, drink and merchandise sales with The Athletic reporting a profit of around £5m from the five-night Beyoncé gig in which a total of 240,000 fans attended.
Elland Road will fall short of the Tottenham Hotspur Stadium in both capacity and attractiveness to potential hires, not least because the latter is in London and cost around £1billion to construct. But the opportunity is there for modern football stadiums to explore non-matchday events, and having seen the ground recently come under club ownership for the first time in 20 years, income from those events can go straight into the club.
Those such income streams can provide an excellent way for a club like Leeds, who will hope to boast one of the country’s best grounds once development is complete, to give themselves a financial advantage over their rivals. And that money can also pave the way for further investment, be it in the squad or through Thorp Arch.