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Global crisis allows Spurs to save £40m on stadium
Andrew Hodgson26 Mar 2009
Tottenham are set to save £40million on the cost of their new stadium due to the global financial crisis.
Spurs have proposals for a new ground adjacent to the site of their current White Hart Lane home, with the full planning application for the Northumberland Development Project due in "the next few months".
The club have so far been encouraged by the response of local residents to the proposals and there's also good news over building costs.
Matthew Collecott, Spurs' finance director, said: "The stadium build cost has come down by about £40million because of a fall in the price of steel and cement, and people who want to do this project have greater availability than they did a year or so ago."
Collecott believes the club's stadium plans will lead to a positive impact on the area surrounding the ground. "Nobody else is going to pump £250million into this part of London," he added. "It doesn't take a genius to realise it's not the nicest area. It could be the start of much-needed regeneration."
The club will hold their second public exhibition for the new stadium from 2-7 April, giving more detailed information and revealing new images for the work which also includes retail, restaurants and homes alongside public space.
Spurs chairman Daniel Levy said: "We believe these plans will further demonstrate the potential of this scheme to make this area more vibrant for the local community, as well as genuinely acting as a major catalyst for the regeneration of this part of the High Road.
"I hope many local residents and supporters will take the opportunity to visit the exhibition."
Spurs will also start preliminary work in April for their new training complex in Enfield.
Meanwhile, Luka Modric insists he has no intention of leaving the club in the summer.
The midfielder, who joined for £16.5m last year, has been linked with a move to Italy and his agent said last week that the Croat could join Juventus or Inter.
But Standard Sport understands that Modric is loving life at White Hart Lane and is determined to help them challenge for a top-four place next season.
The 23-year-old, who scored the winning goal against Chelsea last week, is determined to repay the faith shown in him by Harry Redknapp.
He said: "He believes in me and I feel I owe it to the team to play better and return his belief in me."
Reader views (9)
That's it, Rob, being a Spurs fan is all about long term pain with just the odd tease of a cup success to make the agony of expectation all the sharper. 40 odd years and counting ... come on you Spurs .... sob!
- Paul, London, 27/03/2009 11:56
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Mark - its better being realistic than living in a dream world. Mind you if the dream is a relegation struggle & our season effectively over with two months to go, then so be it, sorry I forgot we are trying to qualify for the second rate UEFA cup, a competition we gave up in this season. Meanwhile our neighbours down the road press on with Champions League qualification, an F A Cup semi-final & Champions League quarter-final. For me its been way too many mistakes & false dawns under Levy's leadership & we need a change.
- Rob Hotspurs, South London, 27/03/2009 08:13
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Can't understand why a mid-table club want a bigger stadium? Spurs haven't even sold out every home game this season!
- Tony C, Essex, 27/03/2009 03:34
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You can always trust Rob Hotspurs to find a negative.
If we won the league, fa cup and CL in the same year he'd find fault.
Must be great fun going for a pint with you....
- Mark, St Albans, 26/03/2009 18:26
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Firstly, the stadium is a pipe dream in this financial era financing it will prove impossible. In any event its a blatant attempt to make the club more appealing to any potential purchasers, as unlike Arsenal's project which has been financed by the property development, ours has no such substantial element. In respect of Modric I would be far more worried about Lennon going. I am not a huge fan of Modric who doesnt appear capable of playing midweek as well as at the weekends, I believe next season clubs will have sussed out his role between midfield & attack, making him less effective.
- Rob Hotspurs, South London, 26/03/2009 16:48
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I dont fear Modric going anywhere, especially as with a years experience in the best league in the world he'd command a £28m+ price tag.
The Berbatov situation was totally different, as he went on strike and trained alone for the last four weeks owing to his falling out with the squad. It was a great deal for a player who shines once every five games and has gone missing now the pressure is on Man United.
We'll build on with Modric in the squad next year.
- Chris, London, London, UK, 26/03/2009 13:12
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Berbatov may had said the same thing and then off he went... But things haven't worked out so well for him of late and he's now just a face in the crowd.
If man u where to get rid of one of their strikers, who do you think it would be...
The grass isnt always greener.. just ask Robbie
- Mark, St Albans, 26/03/2009 13:00
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Modric may be happy to stay but if the price is right and the profit big enough Levy will sell him; that's how "feeder clubs" work.
- David Lewington, Lewes; UK, 26/03/2009 12:27
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I think Berbatov was once reported to have said the same thing. It helps increase the financial package if you first tell the buyer you are happy to stay where you are.
Better start looking for a replacement 'arry!
- Stephen Rothbart, Prague Czech Republic, 26/03/2009 11:47
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