The Barclays Premier League club issued a joint statement with the local Haringey Council on Tuesday, confirming that it is committed to regenerating the area surrounding its historic White Hart Lane stadium. Subject to Cabinet approval, Haringey Council will invest £9 million towards new and improved public spaces, heritage work and environmental improvements in North Tottenham.
In addition, the Mayor of London has committed £18 million to the regeneration of North Tottenham, £8.5 million of which will be invested in the stadium approach.
Tottenham will progress the Northumberland Development Project (NDP), which the club states will bring a state-of-the-art football stadium, new homes, shops and leisure facilities to Tottenham. Tottenham chairman Daniel Levy said: “As a major employer and business in the area we are delighted with this commitment from the Mayor and Haringey Council. We have long said we could only invest in the area if we could see our commitment supported by others and that there was a real need to maximise the regeneration benefits and lift the wider area. We therefore see this as a commitment from the public sector to the Tottenham area and one which strengthens our ability to deliver a new stadium scheme with the potential to kick-start the long-term regeneration of North Tottenham.”
Tottenham last month delisted its shares from the stock market and returned to private ownership as it aims to raise funds for the proposed new 58,000-seat stadium. The club has focused its efforts on the Northumberland Park development next to White Hart Lane following its defeat in the Olympic Stadium bid.
The Olympic Park Legacy Company (OPLC) in September was instructed to start a new process to secure tenants for the Olympic Stadium post-London 2012 after the original decision to award the stadium to West Ham United sparked legal challenges from Tottenham and third tier team Leyton Orient. Tottenham has since scrapped any intention to re-join the Olympic Stadium race as the venue needs to retain its running track. Tottenham reportedly needs to raise £300-£350 million to build the new stadium at Northumberland Park, and Levy believes borrowing money will be easier if the club is privately owned.