It was reported this week that there have been major developments in the construction work for Tottenham Hotspurâs brand new stadium which is set for completion next year, and will be situated next to Spursâ current stadium White Hart Lane. However, it hasnât all been positivity for the Premier League club, as representatives have confirmed that the cost of the stadium has now doubled from its original price!
The original cost for the 61,000 seater stadium was quoted at £400 million back in 2010, and the current estimated total figure has significantly risen to £800 million, with club director Donna Cullen partly blaming Brexit for this dramatic rise.
Cullen has commented in an email addressed to the clubâs supporters, 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 (£400m) was some seven years ago.
The new âestimatedâ figure (£800m) relates predominately to the stadium with some elements of substructure for the other builds, particularly the Tottenham Experience. 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 viability of the scheme.
The main contractor for the stadium was announced as Mace in 2015, with the company beating off strong competition from the likes of Sir Robert McAlpine and Multiplex for the big contract. Concrete frame specialist Morrisroe is amongst the subcontractors, as well steel specialist Severfield and scaffolding specialist GKR Scaffolding.
The new stadium will include features such as the worldâs first micro-brewery and in-house bakery, as well as a retractable pitch which will allow for up to 16 sporting events outside of football to take place here. In the meantime Spurs will be looking for a temporary home for next season, with Wembley Stadium expected to be the most likely destination!