Tottenham Hotspur's new 61,000-capacity stadium to cost £750m

Rob

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#2
Doesn't that figure include all the interest, financial restructuring, loans fees, etc?

I thought the "build cost" was still close to 450 but to pay that 450 it'll eventually cost us more like 700.
 

Achap

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#3
It is the DM but then again it's nothing unusual that prices for big construction projects far exeeds the initial estimates...
PS! Yes, I know there are many (too many) threads about the new stadium but there is not a single "consolidated" thread. Maybe we should have a "Stadium watch" thread :cool:

http://www.dailymail.co.uk/sport/sp...tml?ITO=1490&ns_mchannel=rss&ns_campaign=1490
So you wouldn't count the New Stadium Details and Discussion thread with 17,830 replies over 892 pages as a single consolidated thread? :eek:
 
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kmk

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#4
That figure must include the construction of the new homes which should make a tidy profit.
 

ginola99

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#6
What?

The cost includes everything, the stadiums, housing, extreme sports facilities, The Tottenham Experience etc.

I'd be very surprised if that figure was just for the stadium. If it was then the total outlay for the project as a whole would be over a a billion!
 

Dharmabum

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Thread starter #7
So you wouldn't count the New Stadium Details and Discussion thread with 17,830 replies over 892 pages as a single consolidated thread? :eek:
I would have if I had found it at first try :cool: Smart ass :D
Searched for stadium threads but there was a myriads of different threads.
 
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#9
The Daily Mail's piece is all over the shop.

ENIC and TH Property Ltd have a significant stake in High Road West - a separate 1200 home redevelopment on the opposite side of Tottenham High Road.

How much of a stake exactly is not known but a separate planning permission was approved in 2014, and the club transferred the land assets from THFC to a Joe Lewis offshore property company in 2013.

One can imagine the club are sussing out it's financing options in order to invest in both projects concurrently if it so wishes.

You know, to make money. NOT because a retractable NFL pitch and changing room is going to cost an additional...£350m!?

http://www.theguardian.com/football/2013/oct/30/tottenham-new-stadium-local-business-demolition
 

whitesocks

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#11
The Emirates cost near £400m 10 years ago.
Is 50% inflation reasonable?
So thats £600m for a start.
Then we have a retractable pitch or rather 3 sections all tucked behind a normal full sized stand - engineering not seen in the world before... this is risky. That will add another £100m if we are lucky.
My ball park figure is £700m.
I don't know where they get the last £50m from; perhaps we are installing a fish tank in the board room.
 

RichieS

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#12
The Emirates cost near £400m 10 years ago.
Is 50% inflation reasonable?
So thats £600m for a start.
Then we have a retractable pitch or rather 3 sections all tucked behind a normal full sized stand - engineering not seen in the world before... this is risky. That will add another £100m if we are lucky.
My ball park figure is £700m.
I don't know where they get the last £50m from; perhaps we are installing a fish tank in the board room.
Sharks with laser beams.
 

Spursidol

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12,636
#14
It is the DM but then again it's nothing unusual that prices for big construction projects far exeeds the initial estimates...
PS! Yes, I know there are many (too many) threads about the new stadium but there is not a single "consolidated" thread. Maybe we should have a "Stadium watch" thread :cool:

http://www.dailymail.co.uk/sport/sportsnews/article-3367393/Tottenham-Hotspur-s-new-61-000-capacity-stadium-cost-750m-double-original-estimates.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

Can you change the title - its total BS and down to lazy or illiterate journalists who can't read

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=776562

On Page 8 under 'Funding' the KPMG document summarises the funding required for the project which they say is £675m - £750m which includes DSRA (Debt Service Reserve account) which are the repayments to banks which must be made (as defined in the contract between Spurs and the bank) which is NEVER going to be a cost but is simply a cashflow item - at a certain point in time Spurs may well be repaid whatever is left in the DSRA, and then as @Rob has already pointed out all the capitalised interest incurred on the project which is not (in common English) a cost of building the stadium.

Without seeing the contract its not possible to give an accurate number for either of those items - certainly north of £100m would be a good starting guess.

In addition to that it would be pretty standard to capitalise costs off the Spurs management working on the project, very possibly including related overheads.

And there's the point that the figures include £100m+ already spent by Spurs/ENIC on the project which of course is likely to buy out Archway and other land deals.

So that £750m is total bullshit - the funding estimate for the development is £675m - £750m of which at least £200m needs to be knocked off (and likely more) to get to a build cost for the development.

Oh and last point - that's for the development of which the stadium is just a part (albeit an important part).
 

Dharmabum

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Thread starter #15

Can you change the title
- its total BS and down to lazy or illiterate journalists who can't read

http://www.planningservices.haringey.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=776562

On Page 8 under 'Funding' the KPMG document summarises the funding required for the project which they say is £675m - £750m which includes DSRA (Debt Service Reserve account) which are the repayments to banks which must be made (as defined in the contract between Spurs and the bank) which is NEVER going to be a cost but is simply a cashflow item - at a certain point in time Spurs may well be repaid whatever is left in the DSRA, and then as @Rob has already pointed out all the capitalised interest incurred on the project which is not (in common English) a cost of building the stadium.

Without seeing the contract its not possible to give an accurate number for either of those items - certainly north of £100m would be a good starting guess.

In addition to that it would be pretty standard to capitalise costs off the Spurs management working on the project, very possibly including related overheads.

And there's the point that the figures include £100m+ already spent by Spurs/ENIC on the project which of course is likely to buy out Archway and other land deals.

So that £750m is total bullshit - the funding estimate for the development is £675m - £750m of which at least £200m needs to be knocked off (and likely more) to get to a build cost for the development.

Oh and last point - that's for the development of which the stadium is just a part (albeit an important part).
Only the moderators can change the head line subjects...
 
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