Football Clubs News | Football Technology and Stadia
Tottenham Hotspur's major shareholders are likely to cash in if the club receives planning permission for a new stadium, it has been claimed.
The Guardian reports that Daniel Levy and Joe Lewis, who currently own the English Premier League club's parent company Enic, are expected to commit more than £100 million of their own money to finance the stadium project.
According to the newspaper, Levy and Lewis increased Enic's holding in the club by over two per cent at a heavily-discounted price during last month's rights issue.
That means the investors are now well-placed to sell their shares at a significant profit if the new ground gets the go-ahead.
Tottenham Hotspur's proposal for a new 60,000-seater stadium next to their current home at White Hart Lane is part of a wider scheme known as the Northumberland Development Project.
In March, the club's finance director Matthew Collecott said that the cost of the new stadium is likely to be about £40 million less than initial estimates due to the global financial crisis.
Written by Mark Thompson
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
