24 Aug 2009Tottenham Hotspur gain £15m towards football stadium move

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Tottenham Hotspur's plans to move to a new football stadium took a leap forward on Friday when a share placing raised £15 million towards the move.

The English Premier League club are looking towards a new stadium to boost their football finance position and increase the chances of them competing for major honours.

They have called White Hart Lane their home since 1899, but plans are being put in place to build a new 58,000-seater stadium next to their existing ground.

This will form part of a complex also incorporating shops and restaurants, with the new finance set to help speed up the submission of a planning proposal later this year.

A club statement read: "During the past two years the company has engaged a full-time team of experts and consultants to progress the development of the proposed new stadium.

"The professional costs to advance the project to a position where the company can submit a full planning application will be circa £15 million."

Tottenham Hotspur currently sit top of the English Premier League after winning all three of their opening games, the latest of which was a 2-1 victory at West Ham United yesterday.

Written by Paul Roberts

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