Levy warns of Spurs doing a financial ‘Arsenal’ after stadium move

      

Levy warns of Spurs doing a financial ‘Arsenal’ after stadium move

Picture: Doha stadium

Tottenham Hotspur chairman Daniel Levy has warned Spurs supporters that the club’s finances may take a hit in the short-time after the planned move to a new 61,000 stadium next season.

The projected move will make Spurs the club with the biggest stadium in London, beating The Emirates with around 600 seats. But Levy insists beating Arsenal in growth was not the main objective of the expansion.

“[Building a bigger stadium than Arsenal] wasn’t the sole driver.” Levy told NBC. “The reason was simply that we have a season ticket waiting list of 58,000 people and had to find a solution.

He also added: “Everybody thinks just because you have a big stadium you get more revenue and you’ll have lots more money. But when you are spending this amount of money on a stadium, we’ll have a lot of debt we will have to replay.“

The new club stadium will cost around 400 million, but the entire project may stretch to 750 million. The project includes the possibility of squashing some of the money going out by installing a retractable pitch which will allow NFL games to be played.

Arsenal built the Emirates in 2005 and were severely restricted in their transfer dealing for at least 10 years.

 

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Premier League

P GD Pts
1 Chelsea 33 40 78
2 Tottenham 33 47 74
3 Liverpool 34 28 66
4 Man City 33 28 65
5 Man Utd 33 26 64
6 Arsenal 32 24 60
7 Everton 34 23 58
8 West Brom 34 -4 44
9 Southampton 33 -5 41
10 Bournemouth 35 -13 41
11 Leicester 34 -12 40
12 Stoke 35 -13 40
13 Watford 33 -17 40
14 Burnley 35 -14 39
15 West Ham 35 -15 39
16 Crystal Palace 35 -10 38
17 Hull 35 -31 34
18 Swansea 34 -29 31
19 Middlesbrough 34 -19 27
20 Sunderland 34 -34 21
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