Tottenham prepare £350m loan facility for new stadium project

 
Frank Dalleres
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TOTTENHAM have a £350m loan facility in place for the construction of their new 56,000-seater stadium, it emerged yesterday during a High Court battle over the controversial plans.

The bridging loan from HSBC is available to the club in the event of a funding shortfall for the arena, which they hope to open in 2018, the High Court heard.

Spurs are set to learn whether they can push on with work on the project tomorrow, when Mr Justice Dove is due to deliver his verdict on a challenge mounted by a local business.

Archway Sheet Metal Works, which owns the sole property standing in the way of the next stage of construction, has argued that a compulsory purchase order for their premises is illegal. Lawyers for Tottenham yesterday countered that Archway’s objection was wrong. The north London club has used compulsory purchase orders to clear a large area of land next to their current home White Hart Lane.

Archway claimed earlier this week that Spurs were considering revising their current plans for the new stadium and enlarging capacity by a further 5,000.

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