Club hopes de-listing will help it secure capital for a new stadium at Northumberland Park
Tottenham Hotspur has announced plans to de-list from the stock market in a bid to raise money for its proposed new stadium.
The move follows consultation with potential lenders and investors who suggested the club would have more flexibility if it was privately owned.
Club chairman Daniel Levy announced the plans to the stock market this morning.
He said: “It is clear to us that increasing the capacity of the club’s stadium is a key factor in the continued development and success of the club and will involve the company in considerable additional capital expenditure.
“Given this requirement, we believe that the AIM listing restricts our ability to secure funding for its future development. We are ambitious for the club and have always taken the steps that we believe to be in its best interests.”
Spurs need to raise £300-500m to build a new stadium at Northumberland Park, much of which will have to be borrowed. Naming rights worth an estimated £150m are likely to be a key part of the package.