Levy: Stadium plans not a sales pitch

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Spurs have revealed proposals for a new site adjacent to their current home at White Hart Lane, with Levy confirming the sale of naming rights to sponsors when building is completed. There is no timescale on the project, although it is expected to take at least five years.

"The growth in the club starts initially from football - without a successful team there is no growth in revenues," he said. "This whole idea that the club is run for profit with the football second, that has nothing to do with selling the club and is a load of rubbish."

He added: "The motive for doing it is that it is the right thing for the club."

Spurs' stadium proposal's came on the same day they announced their financial results for the 12 months before June, with an improvement on the previous period largely due to more matches and winning the Carling Cup.

Their financial progress has led to the perception Levy would eventually want to sell.

Levy spoke four days after sacking head coach Juande Ramos and scrapping the continental structure that saw sporting director Damien Comolli scout and recruit players.

Harry Redknapp has been appointed - and Levy feels he has a manager who understands the domestic transfer market, although he also defended the previous system.

"People have misunderstood the issue of the sporting director, they forget we had European football here for three years with a sporting director," Levy said. "It's not about coach v manager or a sporting director, it's about the right people.

"The difference between Harry and other coaches we've had here is that Harry has certain abilities others haven't - particularly the UK markets in terms of transfers. Other coaches have skills in terms of coaching but Harry has both."