The cost of the stadium has risen from £450 million to around £800 million

Tottenham Hotspur’s stadium redevelopment is a significant step closer after the club agreed a £350 million funding package with three investment banks.

HSBC, Goldman Sachs and Merrill Lynch will provide almost half of the money required to complete the £750 million rebuilding of White Hart Lane. The rest of the funding will come from advanced ticket sales, a ten-year ground rental arrangement with the NFL and a possible naming-rights deal.

Confirmation of the commercial loans is a big boost for Tottenham as they prepare to announce their departure at the end of the season from their home of 118 years. The plan is to spend a year at Wembley before returning to a rebuilt ground on an adjacent site in north London for the start