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Tottenham Hotspur to delist shares

Category: World of Business


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Tottenham Hotspur to delist shares

 

November 16, 2011
 

Football club Tottenham Hotspur is to de-list its shares from the stock market and go private as part of plans to raise funds for a new stadium.
 

Club chairman Daniel Levy said that de-listing from the AIM exchange would help it as the listing, "restricts our ability to secure funding".
 

Tottenham also reported a profit of £402,000 for the year to 30 of June, helped by Champions League income. The results were an improvement over a £6.5m loss in 2010.

 

Stadium battle 

Mr Levy said: "Increasing the capacity of the club's stadium is a key factor in the continued development and success of the club."
 

Tottenham said the last day of share dealing would probably be 13 January, with the club going private on 16 January.
 

Last month, Tottenham announced it had withdrawn its bid for a judicial review into the handing of the Olympic Stadium to West Ham.
 

The move follows the collapse of the deal to award the stadium to West Ham after the London 2012 Games.
 

The Olympic Park Legacy Company (OPLC) blamed the collapse on delays caused by the legal dispute with Tottenham which had also sought to move into the stadium.
 

Instead the stadium is to remain in public ownership with clubs able to bid to use it as a tenant.
 

In its results Tottenham said it was not interested in bidding for the stadium as a tenant, because the Olympic running track would be retained.
 

Instead it said the club was actively consulting on plans to re-develop its existing ground.
 

 

Source: BBC News

 



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