Daniel Levy could net Tottenham Hotspur a £125million windfall if ‘Project Big Picture’ is given the green light to go ahead.
The Telegraph claim that they have seen documents which reveal would be a pot of £150million allocated aside each year to help top flight clubs who are improving their stadiums with “assistance payments”.
Tottenham’s new state of the art stadium is said to have cost the club £1billion to develop with the project having suffered a number of delays before finally opening its doors in April of last year (Daily Mail).
An amount of £250million can be applied for to be put towards the cost of a stadium but carries the caveat that the club must have been in the Premier League for 12 of the last 15 years.
As well as Spurs, Liverpool could reclaim around £30 million on their newly-built main stand while Manchester City would be entitled to retrospectively claim 25 per cent for their £50million development of the south stand at the Etihad Stadium in 2015.
The proposal – under “infrastructure funds” reads: “Any club which has an eligible project that was completed in the last ten years … and with a minimum spend of £50 million per project receives 50 per cent of the assistant payments they would be eligible to receive under this program for 15 years (eg Tottenham, Liverpool, Man City and Brighton ) resulting in a total of 25 per cent of the capital improvement.”
Have something to tell us about this article?