£750m New Stadium: The Game Changer
The Haringey Council Planning Sub Committee meeting last night, that seeped over into the early hours of the morning took so long because they were jumping through hoops.
It was a 6-hour meeting because they had to cover themselves ahead of the inevitable judicial review from English Heritage who will do everything within their power to stop the demolition of three buildings.
The key to all of this is the NFL. This is not some mickey mouse organisation. The Mayor wants the NFL in London, the Chancellor of the Exchequer wants the NFL in London and Haringey Council needs the NFL in the borough for their ambitious regeneration plan to come off.
The NFL bring increased naming rights for the stadium as it will be broadcast into millions upon millions of homes in America. That will attract investors, it will make Tottenham an investor magnet with a ripple effect for the borough. You do not sign a deal with such a massive organisation as the NFL if you can not deliver on that deal.
To say the signing of the NFL was a complete game changer for Tottenham would be an understatement. Their involvement, giving increased income from naming rights will be helping to fund the stadium, for which we will have a £200-million bridging loan and agreement from three banks for a loan of £350-million. The club have forecast that the stadium will cost £675 - £750 million.
Anyone who followed the proceedings will have seen any conflict of interest declared at the beginning of the meeting. Why? So nobody could say the decision was reached by Tottenham fans. There was only one on the committee, one Arsenal season ticket holder and two West Ham fans who regularly attend games. That was one box ticked.
Every minute point was discussed for the same reason, to ensure every hoop was jumped through, very objection discussed and covered. All the awkward points were raised and answered to cover procedure. They have to be seen to giving all sides a chance to speak and have their objections heard because any judicial review can only look at whether procedure was followed.
Last night was a game changer for Tottenham, far bigger than many Spurs fans can imagine. The stadium will put us in the big league, a long-term NFL deal in London at Tottenham will give the club the income power of a super rich club.
We are getting there. You build the business which builds the club on the field.
It's a day to rejoice in being a Tottenham fan.
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