Tottenham Hotspur have more step closer towards completing the final attributes of their proposed new stadium, which will have the ability to seat up to 56,000 people.

This is expected to be the major attributes that will make Tottenham Hotspur join in the league of the top four. It has been pretty clear from the revenues of both Manchester United and Arsenal that having a large stadium and the ability to fill it will definitely make a huge difference in the balance sheet at the end of the year.

Even though Arsenal have not been as successful as they would have liked since moving from Highbury to the Emirates, the success has come in the form of the balance sheet.

Arsenal are now self-sufficient and will not be facing the huge complications of many other clubs like Chelsea and Manchester city face in order to comply to the UEFA Fair Play regulations. It has been estimated that Tottenham would need around £ 150 million to complete the stadium. They have now secured funding that will help them begin the process.

Spurs have said that a major portion of the funding would also be provided by the sponsorship deals. Tottenham hope to get around £ 100 million from the naming rights for the stadium alone.

“I am committed to securing Tottenham’s long-term future and the time has come for Spurs to show its commitment to the area by investing with urgency and determination to deliver the jobs and growth desperately needed in this much neglected part of our city,” the Mayor of London said after committing around £ 23 million for the project.

It is expected that the new stadium would also house a number of improvements for the nearby localities including shopping centres and housing.