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Tottenham don't need European football to fund new stadium says Daniel Levy
Published : 02 Apr 2009 08:33:42
Spurs have revealed the latest plans of the 'Northumberland Development Project', which would see the 58,000-capacity stadium built adjacent to their current home. 'We are running the project in that we have Premier League status, it is not based on European qualification,' Levy said. Funding instead is likely to come from issuing more shares in the club and selling the naming rights for the stadium to sponsors. 'I don't think there is a principle funder, but naming rights will be important. But possibly so will be an equity issue, or bank finance, so it is hard to say what will be most significant,' said Levy. The planning application is yet to be lodged, though the prospect exists of football being played at the new ground by 2013 or 2014 if everything goes smoothly. And when it happens, Levy is confident that Spurs will be able to fill their new home. 'At the moment we have roughly 25,000 season tickets holders and we have a waiting list of over 22,000 and that was before plans for the new stadium so I am sure as soon as people can get seats in the new stadium there will be plenty of interest.' It was revealed last week that Spurs could save up to £40 million due to the global financial crisis. Levy added: 'In terms of construction costs one of the advantages at the moment is that the construction costs will come down compared to a couple of years ago but on the other hand, raising finances is more difficult.'