Europe not essential for Tottenham's new stadium
Thursday 02 April 2009
Daniel Levy, the Tottenham chairman, insists the club will not have to guarantee regular European football to fund their new stadium. Spurs have revealed the latest plans of the "Northumberland Development Project", which would see the 58,000-capacity stadium built adjacent to their White Hart Lane home.
Levy will explore different ways of financing the project, including the possibility of issuing more shares in the club and selling the naming rights for the stadium to sponsors.
Reaching the Champions League or Uefa Europa League, however, is not essential to funding the stadium. "We are running the project in that we have Premier League status. It is not based on European qualification," Levy said. "There is not a principal 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."
The planning application is yet to be lodged, with the possibility of football being played at the new ground by 2013 or 2014.
Spurs want to use the space around the new ground for community events like a temporary ice rink or street markets, and they have been encouraged by the response from residents. Levy is also confident that Spurs will be able to fill their new home.
He added: "We have 25,000 season-ticket holders and we have a waiting list of over 22,000. As soon as people can get seats in the new stadium there will be plenty of interest."
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