Tottenham new stadium
Tottenham have made significant strides in moving into their new stadium.

Tottenham Hotspur chairman Daniel Levy is hoping the club's new stadium can spark a new era in north London after plans were unveiled to leave White Hart Lane for a new ground in 2017.

On the day that Spurs announced a post-tax profit of £1.5m for the year ending 30 June 2013, the club revealed how they have made progress in attempts to leave their 36,000-seater home.

In a move which is expected to cost £400m, Tottenham are close to beginning work on the new stadium which will be built right next to their current home with Levy claiming to have a waiting list in excess of 47,000.

"We have fantastic, strong support," said Levy. "Our current 36,000 seater stadium sells out and the waiting list for season ticket holders is currently in excess of 47,000.

"We have the smallest capacity stadium of any club in the top 20 clubs in Europe, let alone the current top four Premier League clubs, and given we now operate within UEFA Financial Fair Play rules, an increased capacity stadium and associated revenues is fundamental to supporting the future ambitions and consistent achievement at the top of the game.

"The new stadium is a landmark project, of importance not just for our club, but to the regeneration of an area which has been our home for more than 132 years and to London as a whole.

"It will be a key regenerative component of the local economy and a significant tourist attraction in its own right."

Though Tottenham are expected to miss out on a top four spot Levy says the summer transfer window will not represent the opportunity for significant upheaval, which could even lead to the retention of manager Tim Sherwood, who has 12 months to run on his deal.

Tottenham signed seven new players to offset the loss of Gareth Bale last summer but after the sacking of Andre Villas-Boas in December, Sherwood has been unable to spark a upturn in fortunes with outgoing Netherlands coach Louis van Gaal expected to takeover.

Levy has reflected on the current campaign amid the expected failure to finish in the top four and the sale of Bale to Real Madrid and says the club have failed to meet expectations.

"This season we have had to make significant changes, both in respect of coaching and playing staff and yet we are currently only two points less than last season's tally," added Levy.

"Whilst this season's performances and results have not lived up to expectation, we believe our squad has potential and it is important that we all now show commitment and teamwork to get the best possible finish to the season."