Tottenham Hotspur moved a step closer towards the construction of a new 60,000 seater stadium on the site of their existing home, White Hart Lane, after an agreement was made with local government.
Haringey council have promised to invest £9m for improvements to the area, in addition to the £18m already promised by the Mayor of London Boris Johnson towards regeneration, following the rioting last summer.
The club is now set for talks with banks and commercial partners regarding the scheme.
Last month, Tottenham Hotspur Football Club delisted its shares from the stock market and gone into private ownership, reportedly to make financing talks more straightforward.
The north London club confirmed that Friday 13th January was the last day of trading in its shares on the AIM index.
The £400m Northumberland development project includes the development of a new stadium plus the redevelopment of the surrounding area and new commercial premises including a supermarket, offices and residential properties.
£6m of the mayor's £18m investment will be spent on highways, parking improvements and a district‑wide heating and power scheme in the area via the council.
The remaining funds will focus on public transport and infrastructure improvements, with £8.5m to be spent on a new public square that will link the new stadium to the proposed White Hart Lane station's ticket hall.
Around £5m of Haringey's contribution will be spent on new community event and public space – with £3m on improvements to existing buildings.
Source: http://www.sportindustry.biz/news/view/10756/spurs-set-to-redevelop-white-hart-lane
