Current construction at Tottenham Hotspur's new stadium. Image: THFC
Billy Wood

Revealed: How Tottenham Hotspur plan to make a £3.5m profit on their new stadium

Premier League football club already look set to rake in millions from their new stadium despite the fact the ground is still over a year away from its grand opening.

The club, who are currently in the process of building their new £750m stadium in North London, are set to move into their new home in the 2018/19 season, but the notoriously shrewd Chairman Daniel Levy has plans to cash in on cranes currently being used on the construction site.

According to The Sun, the club purchased their own cranes last year after a UK-wide shortage meant none were available for Spurs to hire.

Costing roughly £870k each, the club forked out just over £6m on the seven cranes which are now piecing their 61,000 seater stadium together.

Since then global steel prices have skyrocketed, influenced partly by rising Chinese demand, and now stand at around three times what they did 12 months ago, with even higher rises predicted this year.

As a result, the North London club now stand to make around £500k profit on each crane when it comes to selling them, a small bonus when it comes to recouping the cost of the development as a whole.

Tottenham Hotspur are still on the hunt for a sponsor for their new ground, with the Qatar Investment Authority and Uber previously rumoured to be interested, while a more involved partnership with the NFL has also been mooted as ways in which the club can claw back costs.

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