Tottenham and Chelsea’s rivalry is as fierce in the executive suite as it is in the terraces.
Okay, maybe not quite as fierce. Or, at least, the ferocity is expressed through pointed barbs at Premier League shareholder meetings as opposed to hurled insults from the stands.
Spurs and Chelsea are both members of broad factions – some on social media label them the ‘blue cartel and the ‘red cartel’ – who are at civil war behind the scenes.
They are quite capable of cooperating when it is in their shared interest, but the two London clubs disagree on the philosophy behind the league’s Profit and Sustainability Rules (PSR) and other issues.
Financially, Chelsea used to have a commanding lead over Spurs. In recent years, however, the scales have tipped the other way.
The catalyst was the construction of the Tottenham Hotspur Stadium, which has thrust the North Londoners into a new dimension both commercially and in terms of matchday income.
Success on the pitch is significant, yes, but a club’s ‘brand’ is now seen as just as if not more important by potential new sponsors and collaborators.
It’s a concept which is completely alien to most bedrock Spurs and Chelsea fans, but it is the commercial reality for clubs in the modern era.
This in turn has a major bearing on the budgets available to Ange Postecoglou and Enzo Maresca respectively, especially as PSR will eventually catch up with Chelsea.
Daniel Levy and Todd Boehly both recognise the power of sponsorship – and Tottenham and Chelsea are competing for one of the biggest deals of them all.
Chelsea and Spurs competing for Nike Air Jordan deal
Paris Saint-Germain’s partnership with Air Jordan, the Nike off-shoot co-signed by NBA legend Michael Jordan, is worth a reported £18m per season.
That was on top of the money they were earning directly from Nike, taking their overall commercial return on the relationship to dizzy heights.
Not only did it provide a huge source of income upfront, but the Air Jordan collaboration has made PSG football’s biggest ‘lifestyle’ brand.
In layman’s terms, people who don’t care about football are still potential buyer of PSG merchandise. They have accessed an entirely new market.
Now, both Chelsea and Spurs, who are both partnered with Nike, are gunning to be the next big club to get the Air Jordan treatment from Nike.
Spurs are under contract with the American sportswear giant until 2033, and an £18m-a-year boost from Air Jordan at that rate would be worth around £162m to them all told.
The brand benefits, although less easily quantifiable, would arguably outstrip the base fee by an order of magnitude.
Chelsea and Spurs both exploring retro badges for 2025-26
Interestingly, when Spurs launched the controversial redesign of their club crest earlier this year, one element of the rebrand was the return of the club’s monogram.
The monogram, an amalgamation of the letters T, H, F and C, was featured on their crest from 1989 to 1995 and 1999 to 2006.
Now, reports are suggesting that they will feature the monogram on their third kit for 2025-26.
Similarly, Chelsea are also considering a retro crest for their third kit next season.
Those consulted by TBR Football invariably see this as an attempt to move in a ‘streetwear’ direction and sell more club-branded merchandise to a new market.
It’s not a new idea, but it is one that is increasingly being trumpeted by the big braings, and clubs like Spurs and Chelsea, whose owners both think their clubs have far more commercial upside, are well aware.