Tottenham Hotspur have announced that plans to open a new stadium in the summer of 2017 are "feasible".

The Premier League outfit have revealed that the move will go ahead following support from ENIC International, who have financed the "Phase 1 development through to completion".

Chairman Daniel Levy told the club's official website: "It is a major development that will present ongoing challenges and subject to these challenges being manageable we anticipate going out to tender for construction late this year which will make a stadium opening date of Summer 2017 feasible.

"We have fantastic, strong support. Our current 36,000 seater stadium sells out and the waiting list for season ticket holders is currently in excess of 47,000. We cannot stress strongly enough how critical the new stadium is over the long-term to these raised expectations."

Along with the stadium announcement, the North London outfit have revealed that they have received a two per cent increase in revenue from the previous year after posting figures of £147.4m for the year ending June 30, 2013.