Tottenham Hotspur Football Club's (THFC) plans to develop a new 58,000-seat stadium in north London have received a boost after the club successfully raised £15m through a share placing.

In a statement to the London Stock Exchange on 21 August, the English Premier League Club revealed that the cash will be used to fund the submission of a full planning application for the new venue later this year. A spokesperson for the club said: "During the past two years, the company has engaged a full time team of experts and consultants to progress the development of the proposed new stadium. The company is making solid progress with regard to submitting a full planning application which it expects to submit later this year."

Plans for the new stadium, which have been drawn up by KSS Group, include a new public square designed by Martha Schwartz Partners featuring a dedicated space for community events, including a temporary ice rink, street markets and arts performance, while a smaller, quieter space will offer an area for people to relax. A club museum, a new base for the Tottenham Hotspur Foundation, and a hotel also form part of the development proposals, which will be built on an area of land around 20 acres (8.1 hectares) and includes the site of the current 36,000-seat White Hart Lane stadium as well as an adjacent industrial area."