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Spurs to go private

Spur’s shareholders approved last Tuesday the club’s delisting from the stock market to return to private ownership in a bid to assist its funding plans for a new stadium.

The North London club is AIM's listed but stated its intention last month to de-list as part of the new stadium development project at Northumberland Park next to White Hart Lane following its defeat in the Olympic Stadium bid.

At Tuesday’s AGM Tottenham Chairman, Daniel Levy hinted that the club was duped into bidding for the Olympic Stadium.

“We were certainly encouraged to bid for the stadium, but knowing what we now know in terms of the government’s requirement to retain the (running) track, if we’d known that at the beginning we would not have bid,”

Spurs are reported to need between £300-£350 million to build the new 60,000-seat stadium at Northumberland Park, and Levy has previously stated borrowing money will be easier if the club is privately owned.

PR

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