Tottenham Hotspur executive director Donna Cullen has attributed the rising costs of the English Premier League football club’s new stadium to Britain’s decision to leave the European Union.
The price of the new stadium, which is being built opposite the club’s current White Hart Lane ground, is said to have risen to around £800m (€920m/$975m).
The figure represents a steep increase on the £400m that was quoted as the original cost when plans for the stadium first emerged.
In an email to a fan inquiry that was reported by the London Evening Standard newspaper, Cullen said: “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.
“It is 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.”
The ‘Tottenham Experience’ refers to the various stadium-related initiatives the club offers to fans.
Cullen’s email added: “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.”
The new stadium is due to be ready in time for the 2018-19 season. Tottenham is expected to play next season’s home games at Wembley while work continues at the new ground.
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