Tottenham Hotspur’s new stadium could end up costing as much as £1.2billion according to sources within the construction industry.
A report in The Telegraph claims that Spurs chairman Daniel Levy did not negotiate a fixed-price deal with contractor Mace for the project, which has since suffered delays.
If a fixed-price agreement had been made with the developer, it would have been Mace who would have been liable to pay for the delays and further costs. The project was initially thought to have been valued at around the £850million mark.
A cost of £1.2billion would see the project have overspent by around £300million which is something that the club dispute.
Instead, Spurs officials have stated that the cost has not significantly increased due to the delays because the scope of the project remains the same and there has not been a need to pay workers overtime in other areas.
The Telegraph claim that the stadium will not be ready until the start of 2019 at the earliest, and there is a possibility that they may not even play a game there this season.
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