Premier League stadiums face substantial increases in their business rates bills after the 2026 Draft Local Rating Lists revealed significant rises in how the biggest football venues across England and Wales are valued.
Analysis by Ryan, the global tax firm, shows that stadiums across the top five divisions have risen in rateable value (RV) by 25%, from £89.08m to £111.74m.
Tottenham, Manchester United and Arsenal remain the most valuable football grounds for business rates according to Ryan and account for 30% of the total rateable value of all football club’s stadia.
The most valuable football stadiums (RV) in the England and Wales
- 1) Tottenham Hotspur Stadium – £11.2m (liabilities will rise from £5,705,400 during 2025/26 to £5,801,600 next April representing a £96,200 tax rise)
- 2) Manchester United (Old Trafford) – £11.18m (liabilities will rise from £4,817,400 during 2025/26 to £5,791,240 next April representing a £973,840 tax rise)
- 3) Arsenal (Emirates Stadium) – £11m – (liabilities will rise from £3,690,750 during 2025/26 to £4,797,975 a 30% capped increase under transitional relief of £1,107,225)
National stadiums
These figures place Wembley, despite being England’s national stadium, below all three with its RV rising 9.8% to £9.1m.
In Wales, the Principality Stadium’s RV has climbed 30.4% to £3m, which would place it only mid-table in a Premier League comparison.
Premier League headline movers: Arsenal tops cash rise, Brentford leads percentage surge
- Arsenal recorded the largest cash increase in RV: +£4.35m (+65.4%)
- Brentford posted the largest percentage rise in RV: +300%
- Nottingham Forest: +153.4%
- Leeds United: +128.6%
- Wolves (–32.8%) and Burnley (–6.3%) were the only clubs to see valuations fall.
As a result of the Molineux stadium falling by almost a third, the club will see its liabilities fall from £1,387,500 during the current financial year to £870,240 representing a 37% tax cut of £517,260.
Despite Brentford seeing the rateable value of its stadium surge 300% under the 2026 revaluation, given the transitional relief caps, which phase in large increases, tax liabilities for 2025/26 of £166,500 will be capped at 30% next year to £216,450 a £49,950 year on year increase although by the end of the cycle its bill will have more than doubled.
These shifts reflect the change in antecedent valuation dates: the 2023 List was based on 1 April 2021, while the new 2026 List reflects 1 April 2024. Promotions, relegations, changes in utilisation and strengthened commercial income in that period all directly influence receipts-based valuations.
Beyond the Premier League: Wrexham tops national rises
Outside the topflight, Wrexham saw the largest increase in England and Wales, with its stadium rateable value soaring 612.4% from £76,500 to £545,000.
Whilst Plymouth saw the rateable value of its stadium rise 263.8%, Ipswich 237.4% and Stockport County 234.4%.
Sheffield Wednesday’s valuation still rose 21.8% despite the club being in administration, underlining that business rates reflect the hypothetical rental value of the stadium, not the financial health of the club.
Watford recorded the biggest fall nationally, down 70.8%, driven by its relegation from the Premier League in May 2022 and the associated loss in income.
Alex Probyn, Practice Leader, Europe & Asia-Pacific Property Tax, at global tax firm Ryan said, “Football stadiums are valued using the Receipts & Expenditure method, which is driven entirely by income and operating performance. The last revaluation was based on 1st April 2021, when grounds were still shut with full capacity crowds not returning until 19 July 2021. The new list reflects the position at 1st April 2024, with stadiums fully open and commercial revenues significantly higher, so the increases we are seeing are exactly what the methodology produces.”
“Changes in league status are also key. Because valuations are tied to income at the valuation date, any club operating in a higher or lower division at that point whether through promotion or relegation will see that shift in revenues directly reflected in their rateable value”
“R&E valuations are complex and assumption heavy, and with rises of this scale clubs should be scrutinising the detail closely.”
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