Spurs to save 40m on stadium
Tottenham have revealed that they are set to save £40million on the cost of their new stadium due to the economic crisis. The club unveiled plans in late 2008 to build a new 60,000 all-seater stadium adjacent to their current home White Hart Lane. The stadium will also create new housing, shops and open space in a bid to generate jobs for the area. Spurs have so far been encouraged by the response of local residents to the proposals and more good news has followed with substantial savings on the building costs. "The stadium build cost has come down by about £40million because of a fall in the price of steel and cement," Spurs finance director Matthew Collecott told Bloomberg. Regeneration"Also people who want to do this project have greater availability than they did a year or so ago." Collecott hoped that the stadium could help begin a regeneration process within the area and believed the project would have a positive impact on North London. "Nobody else is going to pump £250million into this part of London," he added. "It doesn't take a genius to realise it's not the nicest area. It could be the start of much needed regeneration for this part of North London." Spurs will also begin preliminary work for their new training complex in Enfield in April.
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