White Hart Lane’s days may be numbered.
On Tuesday, Tottenham Hotspur announced that they’ve finalized a deal to purchase land in order to build a new 56,000-seat stadium estimated to cost £400 million. The land belongs to Archway Sheet Metal Works in Paxton Road in the North London enclave.
A fire had destroyed the facility last November, an incident which authorities suspect was the result of foul play (the investigation is ongoing). Spurs had been involved in a legal dispute to take control of the property. Last month, the High Court sided with the club, and Archway declined to appeal.
Spurs will take control of the land later this year in order to give Archway time to relocate. The club hopes to have their new stadium—which will purportedly be designed by the same firm behind the refurbished Stamford Bridge—ready for the 2018-19 season. It’s unclear what will happen to White Hart Lane after Tottenham move out.
A new stadium with a significantly increased capacity would provide a massive revenue boost for Spurs, allowing them to compete on more equal footing with their North London rivals and their 60,000 seat behemoth. With Tottenham perpetually coming oh-so-close to a top-four finish but only getting over the hump once in recent seasons, this stadium could be the boosr Spurs need.