Tottenham Hotspur have announced an increase in capital of £150million with manager Antonio Conte set to be backed in the summer transfer window.
Spurs have announced an increase of capital by £150m from majority shareholders Enic Sports INC (ENIC) via shares, an investment that will allow the club further financial flexiblity to strengthen both on and off the pitch.
It is expected that the increase in shares will give manager Conte further funds to invest in the summer transfer window, with Spurs now hoping to kick on after qualifying for the Champions League ’s group stages. Football.London have reported the added revenue will bolster Spurs’ spending power this summer.
In a statement, Tottenham said: “Tottenham Hotspur Limited (the “Club” or “Spurs”) has, today, Tuesday 24 May 2022, agreed a capital increase of up to £150m from majority shareholder, ENIC Sports Inc (“ENIC”), via the issue of convertible A Shares and accompanying warrants.
“The equity injection provides the Premier League Club with greater financial flexibility and the ability to further invest on and off the pitch.
“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.”
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Tottenham are expected to explore a permanent move for Juventus ’ Dejan Kulusevski who has impressed on loan from the Turin side at Spurs during the second half of the season. The Swedish international ended the season with 13 direct goal contributions, despite only making his debut in February.
They have also reportedly agreed a deal to sign goalkeeper Fraser Forster on a free transfer with his contract due to expire at Southampton. Should Forster arrive as expected, he is set replace Pierluigi Gollini as the club’s back-up goalkeeper, who is set to return to Atalanta following his loan spell.
Speaking on the investment, Spurs chairman Daniel Levy added: “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.
“Additional capital from ENIC will now enable further investment in the Club at an important time.’’
Spurs’ qualification into the Champions League is their first time in the competition since the 2018/19 season where the club reached the final, losing 2-0 to Liverpool.
