When Tottenham finalised plans for their new state-of-the-art stadium some years ago now, the build was originally expected to cost around £400 million.
But after a meeting with Daniel Levy last week, the club’s Supporters Trust has revealed the cost is now expected to be closer to £800 million, double the original the figure.
We met with Mr Levy and the THST Board on Tuesday evening. Here’s what was discussed. Worth 10 mins of your Saturday https://t.co/JGJXgZiuVB
— THST (@THSTOfficial) March 4, 2017
This has obviously led to many Spurs fans questioning the reasons behind the staggering rise in cost. One supporter received a reply from club executive director Donna Cullen who gave some interesting answers.
— The Spurs Report (@spurs_report) March 7, 2017
Cullen said: “It’s worth remembering that the original cost quoted for the stadium was some seven years ago. This new ‘estimated’ figure relates predominantly to the stadium with some elements of substructure for the other builds particularly the Tottenham Experience.
“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. 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.”
It’s worth reading Alasdair Gold’s football.London write-up for some slightly more in-depth analysis on the situation.