As many have suspected would be the case, the cost of the new stadium has increased significantly. This is from an e-mail sent by Donna Cullen, a club director:
“It is worth remembering that the original cost quoted for the stadium (£400m) was some seven years ago. This new ‘estimated’ figure (£800m) relates predominantly to the stadium with some elements of substructure for the other builds, particularly the Tottenham Experience.
“Revised basement works also added to the cost. We are constantly managing costs and will continue to do so throughout the process along with funding plans to ensure the viability of the scheme.”
Now, that's a lot of money to pay back out of profits, even taking into account the obvious money-spinner that is the 'Cheese Room' and the sales from our new brewery. I hope that we're actively looking for someone to buy into the club or ENIC are willing to re-capitalise to reflect its true value once the stadium is built. Otherwise, that's a mighty big weight to carry unless we are in the process of selling the other builds at a massive profit - the hotel, housing etc.?
Does anyone know anything on this?