Premier League side Tottenham Hotspur could have a boost in their transfer budget after the sale of a land site for £11 million pounds.
The club agreed to sell the site of Brook House Primary School to Legal and General Property, with property agent Lambert Smith guiding the club through the process.
A spokesperson from the club, when asked about the sale, said: “We are delighted to have brought this scheme to fruition.”
Legal and General Property plan to see the building which is situated near Tottenham High Road to house 420 pupils and is expected to be open in time for the new school year in September.
It is currently unknown what the money will be spent on but it does seem that it will more than likely be put towards the £400million build of their new proposed 61,000-seater stadium, which is expected to be open for the start of the 2018-19 season.
When asked about the acquisition, Derek Gilby, senior fund manager at L&G said that this: "acquisition represents an attractive opportunity to access a long-term secure income, while investing in one of London's most exciting and comprehensive regeneration projects."
Tottenham's new stadium will play host to NFL
It was also recently announced that Tottenham have partnered with the National Football League in a 10-year-deal which will see at least two American Football matches take place at the ground each year.
The new ground will facilitate for both the sports with a retractable grass pitch with an artificial playing surface underneath and the possibility of larger separate dressing rooms for the American teams.
The £11m could also be used to invest in the transfer market with manager Mauricio Pochettino looking to bolster his squad as they push to break into the Champions League places.
They have already managed to acquire the services of Kevin Wimmer, Kieran Trippier, Dele Ali and Toby Alderweireld, but will be looking to expand the squad further.