Spurs to go private to raise money for new stadium (From Enfield Independent)
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Tottenham Hotspur to delist from stock market to raise money for new stadium
11:39am Wednesday 16th November 2011 in Tottenham Hotspur Stadium Plans
By Tristan Kirk
New tactics: Tottenham bosses are taking the club off the stock market to raise money for its new stadium
TOTTENHAM Hotspur chairman Daniel Levy has revealed the club is to be de-listed from the stock market to raise money for its new stadium.
Mr Levy announced the move to the Stock Exchange on Wednesday morning, saying the club’s listing “restricts our ability to secure funding”.
The club is currently considering pursuing the Northumberland Park Development to build a new stadium in Tottenham, after Mayor of London Boris Johnson and Haringey Council offered a £16 million deal to help.
The stadium development is seen as a key part of plans to regenerate Tottenham, and would be a major part of growth in the Upper Lea Valley.
The move comes as Spurs reported a £402,000 profit from the year to June 30, up from a £6.5m loss the previous year.
The club is likely to go private on January 16.
