Spurs Eye White Hart Lane Exit - 21/10/2007

As takeover speculation continues, Spurs has raised the prospect of leaving White Hart Lane for a new stadium in North London, saying that it had identified a limited number of potential sites. Chief executive Daniel Levy said that the club would commit to one option, including the expansion of the existing stadium, early in 2008. Tottenham would prefer to stay at White Hart Lane, but although it has bought up land around the club, it faces transport and logistical problems. Turnover in the year to 30 June rose 39 per cent to £103m, helped by cup runs and television income boosted by its fifth-place finish in the Premiership. Revenues also included the first year of sponsorship deals, including a £34m deal over four years with Mansion, the online gambling company. Pre-tax profit rose from £600,000 last year to £27.7m and earnings per share were 20.4p (1.7p losses). A dividend of 4p for the year will cost the club £3.7m. Profits on player trading rose 52 per cent to £19m, largely due to the £12m profit made from the sale of Michael Carrick to Manchester United.

Multimillionaire property developer Michael Kemsley is quitting as vice-chairman to concentrate on business interests in the US, even though his name has cropped up as a candidate to buy the club. He is a close associate of Sir Alan Sugar, the former chairman who sold his stake for £25m, and Mike Ashley, the enigmatic owner of Newcastle United, who has been touted as a possible collaborator in a takeover. But why should Kemsley, who has been such a leading light, choose to leave now? Speculation grows that Spurs are being prepared for sale and he is not in the frame.