Tottenham stadium decision expected next month

While rumours of the new stadium plans of English Tottenham Hotspur have been circulating for a month, the Sportsmail reports that the GBP 300 million project is to start before the end of this year, and is scheduled to last three years.

Chairman Daniel Levy, who is expected to borrow most of the cash required, is looking into finance agreements for the scheme including discussions with corporations over the stadium's naming rights.

The club paid last September a GBP 2 million fee for a two-year option for land on the Wingate Trading Estate, just north of White Hart Lane, the club's current home. The land has a purchase price of GBP 17 million.

Low residual land values within the Tottenham area which in turn makes enabling development less feasible, along with a limited number of suitable alternative sites within London, has led to the decision taking longer than first expected.

Another option, which is also favored by Levy, is to remain at White Hart Lane and increase the capacity from its current 36,000.

Tottenham are to announce the decision for the project next month.

"I am determined that we shall work towards a successful outcome and a project of this nature and importance cannot be hurried," Levy told the Press Association.

"On a point of clarity, we have taken no decision on whether or not to expand White Hart Lane and we continue to review and keep our options open."

"The difficulties with seeking a solution to our need for increased capacity are significant," Levy added.

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