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Spurs stadium costs sky rocket following Brexit issues

mawspurs

Staff
Jun 29, 2003
35,066
17,740
Tottenham‘s stadium costs have reportedly risen from £400m to £8oom after Brexit caused a fall in the pound adding 20% to construction costs.

Read the full article at 101 Great Goals
 

penfold_99

Well-Known Member
Nov 24, 2006
697
604
I think the author needs to go back and retake their maths GCSE as 20% of £400m is definitely not £400m.
 

davidmatzdorf

Front Page Gadfly
Jun 7, 2004
18,106
45,030
As usual (and as I have posted multiple times on the New Stadium thread), the press are doing the thing they always do to make a scare story out of development costs, which is to compare the original estimated build costs (£400m) with the latest projected total development costs (£800m).

Never believe press stories about big increases in development costs. They're always bullshit - even when the cost have actually risen, the reporting is always wrong.

The decline in sterling will inevitably affect building materials costs, but the degree to which that will affect THFC's stadium build costs depends on multiple factors. For instance: which subcontracts make the subcontractor responsible for changes to materials costs and which make the employer responsible? And for instance: has THFC hedged against exchange rate movements by procuring some of the short-term development funding in euros?

Trust the press to ignore all of this and focus on a simplistic and inconsistent bottom-line comparison.
 

ERO

The artist f.k.a Steffen Freund - Mentalist ****
Jun 8, 2003
5,910
5,226
Joe Lewis has only made a few billion pounds on currency trading. Doubt the thought of securing any currency has ever crossed anyone at Tottenham's mind...

If anyting we've probably made a good profit on it.
 

Khilari

Plumber. Sort of.
Jun 19, 2008
3,461
5,287
I think they just got confused by the numbers £400 and £8"oo"...

oo I say.
 
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