Tottenham delist shares in bid to fund stadium

Tottenham have made further efforts to secure their funding for a new stadium by de-listing their shares from the stock market, The Daily Mail reports.

The club confirmed that their final day of trading was January 13th before they would return to private ownership. Spurs are hopeful they can build a brand new stadium after ending their interest to become the new tenants of London’s Olympic Stadium. Chairman Daniel Levy is desperate to establish Spurs as a top side in both England and Europe and feels that a new ground is vital to show intentions. Levy insisted last year that de-listing the club would be beneficial and lifts the restricts of a club’s ability to secure funding.

Tottenham revisited the Northumberland Project which would see the creation of a 20 acre site for the club. This would include a 56,250 seat stadium, but would require a substantial amount of funding from an outside source. Levy has targeted Qatari Airways, the rich consortium that have control at French side Paris Saint Germain, but they cannot buy more than 25 per cent of another club due to UEFA regulations.

The North Londoners would need £400m for the project and whilst Levy is prepared to dip into his own finances, a new buyer is needed. Spurs are ready to sell the naming rights to the stadium to find more money and Levy is confident that buyers will be interested, because of the club’s recent on-field successes. Redknapp has guided Tottenham to third in the table and they only sit two points behind league leaders Manchester City.

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