Tottenham Hotspur deny reports club is up for sale

A general view of the Tottenham Hotspur crest ahead of the Barclays Premier League match between Tottenham Hotspur and West Ham United at White Hart Lane on October 6, 2013
© Getty Images
Tottenham Hotspur deny reports that owner Joe Lewis is planning to sell the club for £1 billion.

Tottenham Hotspur have rejected rumours that the Premier League club is up for sale.

Newspaper reports suggested that owner Joe Lewis has slapped a £1 billion price tag on the North London outfit.

It had been suggested that the growing costs of Tottenham's plans to build a new stadium forced Lewis to consider selling up.

However, the club have released a statement on their official website saying: "Contrary to recent press speculation, neither the club, nor its majority shareholder, are in any takeover discussions and the focus of the club is fully on delivering the new stadium project."

The club have also confirmed that Rothschild have come on board as financial advisers as they search for additional funding in order to complete the structure of a new ground adjacent to White Hart Lane.

The statement added: "The stadium redevelopment plans are a significant part of the future for both our club and the local area and represent a complex infrastructure project that requires funding.

"This substantial construction project requires discussions with multiple providers of finance so that the optimum financing package can be achieved. To this end, we have appointed Rothschild to advise us on those options.

"Accordingly, we are at a stage where we are starting to engage with a number of financing institutions and potential funders in respect of the new stadium development project."

Spurs announced yesterday that plans to complete the 56,250-capacity venue before the 2017-18 season have been delayed due to a dispute with a local business.

A general view of the Tottenham Hotspur crest ahead of the Barclays Premier League match between Tottenham Hotspur and West Ham United at White Hart Lane on October 6, 2013
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