Tottenham "more than doubled the projected cost" of its new stadium to £1B ($1.35B), which will "make it the most expensive in Europe," according to Alex Miller of the London DAILY MAIL. Club Chair Daniel Levy continues to "talk with interested parties to help finance the record-breaking build," but the initial £400M ($539M) cost has been "hiked considerably." The £1B cost actually represents the "second substantial estimated price rise," with an earlier estimated cost increase to £750M ($1.01B) revealed in the planning application. The club also posted a series of pictures on Twitter showing the view looking across at the new single-tier South Stand. Levy said that the "skyrocketing cost" of Tottenham's new home is "in part due to the complexity of the project." Construction work "remains on schedule" and the club has already spent more than £100M ($134.7M) on construction related work, according to planning documents. The remaining costs will be covered "through a number of sources including debt, stadium naming rights and advance hospitality ticket sales." The club will "look to front load any deals to generate substantial cash upfront, similar to how Arsenal initially financed the Emirates." Talks over naming rights are ongoing and the club said that it has "received expressions of interest from credible counterparties." Levy admitted that the new ground "will not be called White Hart Lane." The club expects to generate £28M ($37.7M) a year from matchdays at the new stadium, an increase of more than 50%, with the "majority coming from the additional corporate hospitality facilities in the new stadium" (DAILY MAIL, 12/2).
