Tottenham Unveils Plans For New Stadium Move
In unveiling its latest set of financial results, Premier League club Tottenham Hotspur has also announced plans to build a new 60,000 capacity stadium as part of its Northumberland Development Project.
The new stadium, which will incorporate the addition of leisure facilities, public space and housing, will be located near the Spurs’ current White Hart Lane ground.
After spending five years buying and taking options over property around the current stadium site, Tottenham chairman Daniel Levy said that the waiting list for season tickets and high club membership levels made an increased-capacity stadium necessary.
A larger, improved stadium also has the potential to draw in increased revenue from the likes of ticketing and merchandising.
The Northumberland Development Project was announced at the same time as Spurs’ financial results for the year ending June 2008.
The report revealed that turnover was up 11 percent and revenue was up from £103m to £114.8m with net debt of £14.6m. These figures, however, include property acquisitions for the new stadium site.
