Get a closer look at the site of the planned stadium development here

Tottenham have confirmed their intention to build a new 60,000-capacity stadium near their current White Hart Lane ground.

In their financial results released to the stock market today, Spurs announced further details of the Northumberland Development Project, a large-scale development incorporating leisure facilities, public space and housing as well as the new stadium.

Daniel Levy, the Tottenham chairman, has also confirmed that the club are planning to sell naming rights of their proposed stadium - spelling the end for White Hart Lane.

"Unfortunately it's a function of modern day finance - absolutely there will have to be naming rights on the stadium," he said "It's going to be a new stadium so it won't be White Hart Lane. If we want things to progress, things have to change."

While the club's financial results made positive reading - for the year ending June 30, 2008, turnover was up 11 per cent and the building of a new training centre is expected to start next year - it will undoubtedly be the stadium plans which please supporters most.

The Tottenham board pushed ahead with proposals for a larger stadium with a season ticket waiting list of around 22,000 but were conscious of the importance of remaining in the Haringey area.

Other sites were considered but ultimately it was decided their current location, plus land adjacent to it, was the most suitable option.

"With a waiting list for season tickets of over 22,000 and club membership levels of over 70,000, our need for an increased capacity stadium has been clear for all to see for some time," Levy said.

"We diligently spent considerable time reviewing our options and the news that our supporters had been waiting for came this month when we announced our intention to remain in Tottenham, confirming the Northumberland Development Project - a world class scheme incorporating a new stadium with a capacity of 60,000, a club museum, new shops, restaurants, homes and important public space.

"Having reviewed our stadium options it was clear that there were a limited number of alternative sites to our current location and following discussions with Council bodies, the LDA, Transport for London and local and central government officials, redeveloping the existing site emerged as the most viable route.

"We have spent 5 years buying and taking options over property around the current stadium site to enable us to either develop locally or to gain the critical mass to achieve a substantial site sale as a contribution to a relocation.