Source: Eurosport
Tottenham submits plans for new stadium
Tottenham Hotspur has submitted plans for a new 56,250-seat stadium in Haringey, north London, that will see it leave White Hart Lane, its home for 110 years.[LNB] The club said on Tuesday that if the Northumberland Development Project planning application was approved, "hundreds of millions of pounds" would be invested in the north Tottenham area.[LNB] If consent from Haringey Council was gained in early 2010 construction could start later that year, or early in 2011.[LNB] The new stadium could be open in its initial capacity for the 2013/14 season, and be fully complete for the start of the following year.[LNB] Tottenham's existing 36,000-seat stadium has remained unchanged for over a decade, while the club has over 70,000 members and a waiting list for season tickets of over 23,000.[LNB] The club is seeking more revenue to be able to compete at the top level of European football. Tottenham has not won the top league title since 1961 and has never competed in the lucrative European Champions League.[LNB] North London rivals Arsenal moved from Highbury to the 60,355-seat Emirates Stadium in 2006, at a cost of 390 million pounds.[LNB] "This is a multi-million pound investment in the area which brings with it housing, retail, a hotel, a supermarket, expanded community services and jobs and an exceptional public square," said Tottenham Chairman Daniel Levy.[LNB] Haringey Council in north London will now undertake a statutory consultation process on Tottenham's application, which covers an area of 20 acres.[LNB] A spokesman for Tottenham said it was too early in the process to provide specifics on funding, but said the package would involve finance from sponsorship, including stadium naming rights, property deals and bank finance.[LNB] Shares in Tottenham were unchanged at 81 pence at 10:02 British time. The firm has a market capitalisation of about 200 million pounds if convertible shares are included.[LNB] (Editing by David Cowell and Rupert Winchester)
