Spurs chairman shows red card to public listing

 

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The Independent Online

The Premier League football club Tottenham Hotspur is to quit the public markets, claiming the listing restricts its ability to raise funding as it seeks a bigger stadium. The London club announced it would seek to delist from the Alternative Investment Market and re-register as a private company.

Daniel Levy, Tottenham's chairman, believes the development of the stadium is crucial to maintaining the success that saw the club qualify for the Champions League for the first time last year as well as sustaining the investment in the first team.

He said: "It is clear to us that increasing the capacity of the club's stadium is a key factor in the continued development and success of the club and will involve the company in considerable additional capital expenditure."

Mr Levy also said that the Aim listing, "restricts our ability to secure funding for its future development".

Tottenham is currently evaluating its options after losing out on a bid to move to the Olympic Stadium to rival London club West Ham. It is now expected to build a new stadium next to its existing ground White Hart Lane.

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