Tottenham’s transfer plans have received a significant boost after it was announced the club has agreed a £150million capital increase from Joe Lewis’ ENIC group.
Just a few days after the team sealed a return to the Champions League, an achievement that could prove decisive in keeping Antonio Conte and Harry Kane at the club, Tottenham have described the move as one that will provide “greater financial flexibility” and enable to club to “further invest on and off the pitch”.
The statement continued: “The investment represents permanent capital, with no ongoing interest cost to the Club, and which may be drawn in tranches until the end of the year.
“The Club’s independent directors have benefited from its majority shareholder’s ability to invest directly, swiftly and without the extensive due diligence and documentation involved in third party funding.”
As a result of the equity injection, ENIC could increase their ownership of the club from the current 85.6% to 87.5%.
“The delivery of a world-class home was always a key building block in driving diversified revenues to enable us to invest in the teams and support our ambitions to be consistently competing at the highest levels of European football,” chairman Daniel Levy said.
“Additional capital from ENIC will now enable further investment in the Club at an important time.’’
It looks set to be a busy summer for Tottenham, with the first new arrival likely to come in the very near future. Southampton goalkeeper Fraser Forster will undergo a medical at the club, ahead of his free transfer to north London.
Conte is currently in Italy on holiday and Spurs’ managing director Fabio Paratici is likely to fly out to see him in the coming days and holds talks over the summer plans and the manager’s longer-term future.
