Tottenham have confirmed their intention to build a new 60,000-capacity stadium near their current White Hart Lane ground.
In their financial results released to the stock market today, Spurs announced further details of the Northumberland Development Project, a large-scale development incorporating leisure facilities, public space and housing as well as the new stadium.
Chairman Daniel Levy's statement said: "The scheme includes the current site and adjoining land with the stadium sited largely to the north of the existing one."
While the club's financial results made positive reading - for the year ending June 30 2008 turnover was up 11% and the building of a new training centre is expected to start next year - it will undoubtedly be the stadium plans which please supporters most.
The Tottenham board pushed ahead with proposals for a larger stadium with a season ticket waiting list of around 22,000 but were conscious of the importance of remaining in the Haringey area.
Other sites were considered but ultimately it was decided their current location, plus land adjacent to it, was the most suitable option.
Levy said: "With a waiting list for season tickets of over 22,000 and club membership levels of over 70,000, our need for an increased capacity stadium has been clear for all to see for some time.
"We diligently spent considerable time reviewing our options and the news that our supporters had been waiting for came this month when we announced our intention to remain in Tottenham, confirming the Northumberland Development Project - a world class scheme incorporating a new stadium with a capacity of 60,000, a club museum, new shops, restaurants, homes and important public space.
"Having reviewed our stadium options it was clear that there were a limited number of alternative sites to our current location and following discussions with Council bodies, the LDA, Transport for London and local and central government officials, redeveloping the existing site emerged as the most viable route.
"We have spent 5 years buying and taking options over property around the current stadium site to enable us to either develop locally or to gain the critical mass to achieve a substantial site sale as a contribution to a relocation.
"To date this includes almost 60 separate property transactions, including 40 residential and potentially 160 commercial properties at a commitment of £44m."
Levy revealed the planning process is likely to begin next year.
"The public consultation period will now begin and we would hope to submit a planning application in 2009," the statement continued.
"I am personally delighted that we have been able to put forward a viable option which we know to be the fans' favourite - remaining at the club's spiritual home."
Spurs can at least be hopeful of support from councillors, with George Meehan, leader of Haringey Council, saying: "I am delighted that Tottenham Hotspur has confirmed its commitment to remain in our borough.
"We have always regarded Spurs as one of Haringey's prime assets. They bring major economic benefits to our borough and carry out some excellent community work through the Tottenham Hotspur Foundation.
"But more than anything, Spurs have played an integral role in giving a sense of identity to the area it calls home. Tottenham would not be Tottenham without its football club.
"We have been working extremely hard to regenerate the Tottenham area, which suffered so much from industrial decline. Real progress is being made, and it is extremely pleasing that Spurs has demonstrated that they share our commitment to this continuing regeneration.
"But, as always, we will consider very carefully any plans that are submitted to us, as we strive to ensure that a new stadium delivers real benefits for all who live and work in the area."
Elsewhere in the club's financial results revenue was up from £103million to £114.8million with net debt of £14.6million at the end of the financial year - though that figure includes property acquisitions.Reuse content