Tottenham Plan Stadium Move, but Daniel Levy Rules out Spending Spree

Nick AkermanFeatured ColumnistApril 2, 2014

Tottenham's chairman Daniel Levy takes his seat before his team's 6-0 loss at Manchester City in their English Premier League soccer match at the Etihad Stadium, Manchester, England, Sunday Nov. 24, 2013. (AP Photo/Jon Super)
Jon Super

Tottenham Hotspur have revealed they could open a new stadium in 2017.

The announcement came alongside this year's positive financial results, but even though the North London club possess funds, chairman Daniel Levy has confirmed the squad won't receive a "major" overhaul in the summer.

As reported by The Independent, Spurs confirmed a profit of £1.5 million after tax and interest for the year ending June 2013, easily bettering the £4.3 million loss of 2012.

With FIFA's Financial Fair Play rules now in effect, Levy believes an increased stadium capacity is critical to the club's future, as highlighted in the aforementioned article:

We have the smallest capacity stadium of any club in the top 20 clubs in Europe, let alone the current top four Premier League clubs, and given we now operate within UEFA Financial Fair Play rules, an increased capacity stadium and associated revenues is fundamental to supporting the future ambitions and consistent achievement at the top of the game.

Kirsty Wigglesworth

Levy also revealed the "the waiting list for season ticket holders is currently in excess of 47,000"—a significant increase, considering White Hart Lane currently packs in 36,000 fans.

Spurs spent well in excess of £100 million during the summer to make up for Gareth Bale's departure, a decision that hasn't worked out this season. While Christian Eriksen looks destined to be a success in North London, players such as Etienne Capoue, Nacer Chadli and Erik Lamela are yet to make an impact.

Upon Andre Villas-Boas' sacking in December, it was reported by Matt Barlow of the Daily Mail that the Portuguese manager didn't agree to "four of Tottenham's seven summer signings." Whether he did or not, there's no denying the influx of new faces has stretched the squad's unity—on the pitch, at least.

LONDON, ENGLAND - DECEMBER 26:  Christian Eriksen of Spurs celebrates after scoring the opening goal from a free kick during the Barclays Premier League match between Tottenham Hotspur and West Bromwich Albion on December 26 2013 in London, England.  (Pho
Steve Bardens/Getty Images

Levy noted "we shall not look to a summer of major upheaval, but rather to strengthen in key positions," per The Independent's report. Tim Sherwood recently provided Levy with a list of potential signings for next season and "strongly suggested those players have Premier League experience," according to Sky Sports.

Spurs would be able to keep costs down and maintain the needed level of quality by shopping inside the domestic division. The North London club have proved excessive spending doesn't necessarily lead to success, so it's time for a little more tact to be used.

Many believe Sherwood will be fortunate to stay in the Spurs job when the season ends, especially considering Louis van Gaal is interested, per David Hytner of The Guardian. Levy's track record of firing managers quickly is yet to be extended, though, so perhaps he has finally had a change of heart.

Sang Tan

The chairman has axed managers for less than losing 4-0 to Liverpool, Sherwood's latest mishap. With plans of a new stadium coming into place, maybe Levy is finally looking to slowly improve Spurs' fortunes without always opting for a quick fix.

It will be interesting to see which direction Levy decides to take the club in. His emphasis on speedy alterations is yet to yield Spurs any success, as proven with this year's stuttering effort to reach the Champions League.