Tottenham Hotspur have insisted that the construction of their new stadium has not affected their transfer spending for the summer.

The north London giants are currently developing their new stadium beside the old White Hart Lane, and the overall cost of the stadium could be around £750m.

Spurs have been the quietest club in the Premier League this summer with no signs of any incoming signings in the transfer window. However, they have made a good profit of £70m from the departures of Kyle Walker and Nabil Bentaleb to Manchester City and Schalke respectively.

 North London rivals Arsenal had to restrict their spending following the switch from Highbury to the Emirates Stadium back in 2006, and it took them at least seven years in order to come back to normal terms. But, Spurs have affirmed that the club have not reached a similar situation in their case, and there is still the willingness to spend on the player if required.

 Levy also added that manager Mauricio Pochettino is more focused on developing players from their youth academy, and it remains key to their chances of success without having to spend £20m or £30m on a player, he said: “Obviously when you’re building a stadium of this magnitude and it all has to be privately financed – there’s no state help whatsoever – it is a challenge,’ Levy said during a Nasdaq Q&A in New York. We have to find the right balance but I can honestly say it is not impacting us on transfer activity because we are not yet in a place where we have found a player that we want to buy who we cannot afford to buy.”

 Tottenham Hotspur showed signs of improvement last season as they ended second to London rivals Chelsea, and the emphasis will be on pushing for Premier League glory next season whilst making significant progress in the Champions League.