In a lengthy financial statement, posted on the club’s website this morning, Tottenham have given some detail of the situation regarding the development of the proposed new stadium.
The Northumberland Development Project has been an on-going process for a number of years and as we know, Spurs have acquired a great deal of land around White Hart Lane to enable the club to build the new stadium. They have so far purchased all of the land needed for the development of the new stadium to replace White Hart Lane except for one property.
The club states that a Public Inquiry was held in April 2013 concerning that property and Tottenham are currently awaiting the decision of the Secretary of State, Eric Pickles, on the Compulsory Purchase Order (CPO).
Over the past year Spurs has continued to work on the stadium finance plans with advice from their advisors, N M Rothschild.
If a decision regarding the CPO is reached in the near future and as long as the other ‘major challenges associated with the stadium are manageable’, the club expects to be putting the construction work out to tender later this year with the target date for completion and the opening of the new stadium being the summer of 2017.
Tottenham are working closely with the Government, the Greater London Authority and Haringey Council, to deliver the regeneration of Tottenham by creating jobs and improved facilities in the area.
There have been many delays and diversions on this lengthy journey towards a new stadium and hopefully Tottenham will be given the green light soon to enable the project to proceed.