English Premier League clubs Manchester United and Tottenham Hotspur have missed out on a potential $40 million pay day due to the decision to stage Anthony Joshua vs Tyson Fury in the Welsh capital of Cardiff.
Old Trafford, the home stadium of Manchester United, was touted as a venue to host the fight alongside Tottenham Hotspur’s stadium and Wembley, the national stadium of English soccer. However, all three arenas missed out to Cardiff’s Principality Stadium following speculation that the all-British heavyweight clash could even take place at New York’s Madison Square Garden.
The decision to move the fight to Cardiff means that both Manchester United and Tottenham Hotspur have lost an opportunity to earn significant money from the promotion, according to sports finance expert Professor Rob Wilson.
“Missing out on hosting Anthony Joshua vs Tyson Fury goes beyond the basic question of the stadium hire fee,” Professor Wilson told Betano.
“This is a fight that adds several layers of value. Yes, there’s the venue rental but you’re also talking about hospitality, food and beverage, sponsorship activations and other activities that an event like this opens up.
“Then there’s the much more significant economic impact on activity outside the stadium, particularly for a major event that brings in international visitors and new money to an area.
“Wembley Stadium gives us the most interesting comparison simply because we know it can take 85,000-90,000 people for a boxing match compared to what Cardiff can host, which is a smaller capacity of 60,000.
“Tottenham Hotspur Stadium and Old Trafford are roughly comparable with Cardiff’s Principality Stadium, certainly in terms of conventional capacity terms, whether or not the event would be staged in the same way at each venue.”
Wilson, who is Provost of the University Campus of Football Business and Professor of Applied Sport Finance, explained how the true value of the fight could have quickly added up for soccer clubs like United and Tottenham had they been able to host the contest at their home stadiums.
“We can quite reasonably assume that Old Trafford, Tottenham Hotspur and Wembley Stadium have missed out on figures approaching £10 million ($13.5 million),” said Professor Wilson. “Then you’ve got the added economic activity that will take place on event day within the host city.
“I’ve seen claims that WWE’s Clash At The Castle event in Cardiff added around £22 million ($30 million) to the Welsh economy, with about 62,000 spectators drawn to the event. While I’m not sure about that exact estimation it works as a rough benchmark.
“Of course, Joshua vs Fury will be a far bigger event, and you’ll obviously have more spectators wanting to be in Cardiff than will be able to get into the stadium, and there will be a massive increase in hotel demand, especially because of the time of the fight.
“A high proportion of those attending, or even visiting the city for the fight, will need accommodation, and that will bring a lot of new money to Cardiff from international visitors. There will also be visitors from within the UK, which may bring money to Cardiff, but really that’s just recirculating economic activity within the country.
“Joshua vs Fury will probably bring in upwards of £25-30 million ($33-40 million) in terms of added economic activity around the fight to Cardiff, and you might argue that’s money that London and Manchester have missed out on.”
Fury, a fan of Manchester United since childhood, has long talked up the possibility of staging a title fight at the home of his favourite soccer club but it would seem that he is running out of time to make that dream a reality given the decision to pick Cardiff as the city where he will finally meet Joshua in the ring.
