Slaughter and May advised Tottenham Hotspur on its new stadium financing and construction
Slaughter and May has advised Tottenham Hotspur on the financing of its new stadium in North London, known as the Northumberland development project (the “Stadium Financing”). The financing arrangements comprise a £400m term loan facility agreement which will be available to Tottenham Hotspur Stadium Limited to fund the ongoing construction of the new stadium and include a £25 million revolving credit facility available to Tottenham Hotspur Football & Athletic Co. Ltd.
The Stadium Financing will replace an existing £200m facility for the development of the new stadium on which Slaughter and May acted in 2015.
Slaughter and May has also advised Tottenham Hotspur and certain ENIC group companies in relation to a £50m letter of credit facility provided by HSBC Private Bank (Suisse) S.A. and which will be available to fund the new stadium.
Construction of the new stadium is ongoing with opening scheduled for the 2018/19 football season. Slaughter and May has advised and continues to advise Tottenham Hotspur on all aspects relating to the construction process, as well as on the venue hire of Wembley Stadium where Tottenham Hotspur is scheduled to play its home fixtures for the upcoming 2017/18 season.