Spurs benefit from downturn

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Football News

Tottenham are set to save £40million on the cost of their new stadium due to the global financial crisis, finance director Matthew Collecott has revealed.

Spurs have proposals for a new ground adjacent to the site of their current White Hart Lane home, with the full planning application for the Northumberland Development Project due in "the next few months".

Collecott told Bloomberg: "The stadium build cost has come down by about £40million because of a fall in the price of steel and cement, and people who want to do this project have greater availability than they did a year or so ago."

Collecott feels Spurs' stadium plans will lead to a positive impact on the area surrounding the ground.

"Nobody else is going to pump £250million into this part of London," Collecott said.

"It doesn't take a genius to realise it's not the nicest area. It could be the start of much-needed regeneration for this part of north London."

Spurs will also start preliminary work in April for their new training complex in Enfield.

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