Tottenham reject claims that Joe Lewis is looking to sell the club for £1bn and provide update on new stadium plans

Spurs announce that the club's owner is focused on their stadium rebuild as they appoint financial advisors Rothschild to help with the move

Tottenham have released a club statement rubbishing claims made by a UK newspaper that the club is for sale for a staggering £1 billion.

The Mirror claimed that Spurs owner Joe Lewis was looking to sell the club with a reported fee set at £1bn, and went on to suggest that 77-year-old businessman Lewis has been looking to sell the club for some time despite the announcement that the club are looking to build a new 56,250-capacity stadium.

However, in a statement that also took into account the latest situation regarding the stadium move, Spurs dismissed the report and said that Lewis’ full focus was helping to deliver the promise of a new stadium.

They also confirmed that financial advisory group Rothschild had been appointed to help the club with the stadium build, which does not look to be completed until the summer of 2018.

The statement, released on the club’s official website, read: “The stadium redevelopment plans are a significant part of the future for both our Club and the local area and represent a complex infrastructure project that requires funding.

“This substantial construction project requires discussions with multiple providers of finance so that the optimum financing package can be achieved. To this end, we have appointed Rothschild to advise us on those options.

Read more: Spurs fans would prefer Wembley move

“Accordingly, we are at a stage where we are starting to engage with a number of financing institutions and potential funders in respect of the new stadium development project.

The clarification comes in a week that has seen Spurs heavily linked with a temporary move away from White Hart Lane, with Wembley Stadium, the Emirates and Stadium mk all believed to be on the radar to home Spurs for the 2017-18 season.