New Stadium

irishmover

http://www.haringey.gov.uk/news/tottenham-s-new-international-sports-stadium-approved

Dublin Spur

From Spurs Odyssey about the finances:


Great news on financing

Here's some stuff to emerge this week through the planning process.

Spurs have so far invested over £100m in the project (no surprise there, we already knew that)

The total cost (including interest costs and so on) is estimated at £650m-750m. Don't assume that means some massive cost escalation though. It presumably accounts for things like interest rates payable, which the more common headline figure of £450m doesn't.

Three banks have said they would provide long term debts of up to £350m. It is good for Spurs to have choices available for obvious reasons.

Before that loan kicks in in two years time - three banks (presumably the same ones) have offered us a two year £200m bridging loan. This is effectively a short arrangement that allows the banks to retain control until Spurs get full financing for the longer term loans in place (effectively, this is used until the naming rights deal is announced, which typically happens part way through construction)

After the bridge loan - the full £350mil loan would be taken out to pay off the bridging loan and the rest of the construction costs. It will have a five year term.

After five years, Spurs would refinance in one of various ways. (potentially a new loan of five years or bonds - basically it means the banks are not fixed to a low rate of interest if rates go up, but spurs are not fixed to a high rate if by paying down the headline ammount we find we can get a lower interest rate)

Spurs are also examining front-loading things like naming rights deals to bring down the early debt requirement and thus cut interest rate pressures. They are also considering possible equity investment options (from new investors, or from Joe? who knows). Likewise there will likely be some pay down of debt when the southern flats are sold.

Additional info

Corporate seats and boxes will make Spurs nearly £40mil as opposed to the present £13mil at WHL.

Our financial plans for the ground assume finishing 7th, 7th, and 6th every three seasons.

Naming rights and increased conference events are expected to raise about £30mil a year for the club.

Please note what that means.

This means our new stadium will be worth an expected increase in Spurs' revenues of £70million a year even before we sell lots of extra tickets to fans, are paid NFL rent, or run rock concerts.

Kiith

Any word on where we'll be based when the stadium is being built?

irishmover

The Southampton game tomorrow will mark the end to White Hart Lane hosting a maximum capacity crowd of 36,284.

The club has announced that from summer onward there will be a reduction in capacity as our new stadium develops very fast.

Whilst a very sad day it should also be left as a reminder to those of us who said this day would never come under ENIC. (Sorry, I couldn't resist.)

ziedth

I'm quite sad I won't get to be in there again and see it one last time before the changes start (I'm heading over in January for a match but I guess they'll be in full swing then.

Peter File

Tottenham Hotspur ‏@SpursOfficial 24m24 minutes ago
We’ve reached agreement with @WembleyStadium to play our @ChampionsLeague fixtures there for the 2016/17 season.

Tottenham Hotspur ‏@SpursOfficial 22m22 minutes ago
As we shall be required to vacate WHL to complete the latter stages of our new stadium and surrounding environs… 1/2

Tottenham Hotspur ‏@SpursOfficial 22m22 minutes ago
…The agreement additionally provides an option to play all @PremierLeague & cup home games at @WembleyStadium for the 2017/18 season. 2/2

irishmover

Peter File wrote: »

Tottenham Hotspur ‏@SpursOfficial 24m24 minutes ago
We’ve reached agreement with @WembleyStadium to play our @ChampionsLeague fixtures there for the 2016/17 season.

Tottenham Hotspur ‏@SpursOfficial 22m22 minutes ago
As we shall be required to vacate WHL to complete the latter stages of our new stadium and surrounding environs… 1/2

Tottenham Hotspur ‏@SpursOfficial 22m22 minutes ago
…The agreement additionally provides an option to play all @PremierLeague & cup home games at @WembleyStadium for the 2017/18 season. 2/2

That should mean no Chelsea games there then.

mushykeogh

Levy out!

DubPerryman

Uber Stadium??


http://www.squawka.com/news/uber-stadium-tottenham-hold-talks-with-taxi-app-giants-over-20m-a-year-naming-rights-of-new-home/809509

DubPerryman

I was listening to one of the Spurs podcasts and one of the guys recommended this site for keeping tabs on progress.

http://www.skyscrapercity.com/showthread.php?t=549397&page=1247

It's a forum for engineers and there's a tab dedicated to the new Spurs stadium. The guys posting in the thread are Spurs fans who are working on the project. Some interesting stuff.

Kiith

Here's a video of what the stadium will (should) look like apparently.

https://www.facebook.com/TottenhamHotspur/videos/vb.351687753504/10154285036283505/?type=2&theater