Levy: Stadium plan is not a sales pitch

(GETTY IMAGES)

Tottenham chairman Daniel Levy insists plans for a new 60,000-seater stadium is not a vehicle to sell the club - and that success on the pitch is his priority.

Spurs have revealed proposals for a new site adjacent to their current home at White Hart Lane, with Levy confirming the sale of naming rights to sponsors when building is completed.

There is no timescale on the project, although it is expected to take at least five years.

Spurs' value has increased over the last few seasons following three consecutive European campaigns and although Levy's board would be duty-bound to consider appropriate offers, he denies wanting to sell up.

"The growth in the club starts initially from football - without a successful team there is no growth in revenues," he said.

"This whole idea that the club is run for profit with the football second, that has nothing to do with selling the club and is a load of rubbish.

"The motive for doing it is that it is the right thing for the club."

Spurs' stadium proposal's came on the same day they announced their financial results for the 12 months before June, with an improvement on the previous period largely due to more matches and winning the Carling Cup.

Their financial progress has led to the perception Levy would eventually want to sell.

Levy spoke four days after sacking head coach Juande Ramos and scrapping the continental structure that saw sporting director Damien Comolli scout and recruit players.

Harry Redknapp has been appointed - and Levy feels he has a manager who understands the domestic transfer market, although he also defended the previous system.

"People have misunderstood the issue of the sporting director, they forget we had European football here for three years with a sporting director," Levy said. "It's not about coach v manager or a sporting director, it's about the right people.

"The difference between Harry and other coaches we've had here is that Harry has certain abilities others haven't - particularly the UK markets in terms of transfers.

"Other coaches have skills in terms of coaching but Harry has both."

Redknapp, who has inspired a win and a famous draw against Arsenal since his arrival, is expected to have limited funds in the January transfer window.

"The stadium has no impact on our transfer policy," he confirmed.

"When Harry took the job we had a conversation about the current squad and we agreed we have the talent here. One or two small changes maybe but generally we have the talent here.

"There may be limited transfer funds available (in January) but the main transfers take place in the summer.

"Harry's confident and I'm confident that we can move up the table."

Levy is yet to talk to banks about financing the stadium, and no estimated cost has been announced.

"We are talking about an iconic stadium, one of the best in Europe," Levy said.

"Market conditions are likely to change. It is not always going to be like this. We have a very viable business case and believe in the right conditions it will viable to raise the finance."

The stadium plans, named the Northumberland Development Project, will incorporate a club museum, new shops, restaurants and homes.

Spurs hope is that is will rival Arsenal's Emirates Stadium and be fitting for the Champions League, but Levy added: "We've spent more money than Arsenal over the last years and it still hasn't got us in the Champions League. It's more about people than money.

"The stadium issue for us is about having 22,000 people on the waiting list for season tickets."