Tottenham reveal cost of new stadium has risen to £800m due to Brexit
9 March 2017
The cost of Tottenham’s stadium project has increased substantially due to Brexit, according to club director Donna Cullen.Spurs are due to move into their new 61,000-seat ground during the 2018-19 season, with £800million the most recent estimate for the final bill.
That is double the figure that Tottenham originally hoped the project would cost, yet in an email to a supporter which has been published online, Cullen outlines the effect Britain’s imminent departure from the European Union has had on Spurs’ plans.
Replying to a fan’s enquiry, Cullen wrote: “Brexit has added a straight 20 per cent on costs for foreign goods due to the exchange rate, overtime working and increased construction costs similarly.
“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.”
The ‘Tottenham Experience’ is described on the club website as “an extensive programme of cataloguing all current items either in our archives or in the existing stadium”. These are expected to form part of a tour that can be taken by fans visiting the new ground.
Meanwhile, Spurs have still not confirmed where they will be playing their home matches next season. They have until the end of this month to activate their option with the FA to stage all home fixtures at Wembley next season.
On March 23, Brent Council will rule on Wembley’s application to increase the number of full-capacity events at the national stadium between August 1 this year and July 31, 2018. If it is approved, Tottenham will have full use of the venue’s 90,000 capacity for all their fixtures.