22 Aug 2009

Spurs raise five million pounds for new stadium

7:50 am on 22 August 2009

English Premier League soccer club Tottenham Hotspur has raised 12.2 million dollars (5 million pounds) in a share placing to help fund the building of a new stadium.

The London club, which tops the Premier League after two wins in its first two games, says it needs the cash to help submit a planning proposal for the stadium later this year.

Tottenham shares closed up 5 percent at 86 pence, sharply above a 30 pence price for the new shares.