Flush: Daniel Levy
(Picture: Getty Images)Tottenham have confirmed £100million of the £150m cash injection from owners ENIC has been drawn as the club step up transfer dealings.
Exactly one day since announcing the capital increase, Spurs filed a motion with Companies House to confirm two-thirds of the figure was now in club coffers.
Spurs at the time described the move as one that will provide “greater financial flexibility” and enable to club to “further invest on and off the pitch”.
As a result of the equity injection, ENIC could increase their ownership of the club from the current 85.6 per cent to 87.5%. Spurs are able to draw the remaining £50m at a future date.
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.”
Spurs, under manager Antonio Conte, are embarking on a summer squad overhaul and have already brought in three new signings. Ivan Perisic and Fraster Forster have arrived on free transfers before Yves Bissouma swapped Brighton for Spurs in a deal worth around £30m.
Conte wants to bolster both his attack and defence. Leeds winger Raphinha and Everton forward Richarlison are of interest, with right-back Djed Spence and a host of centre-backs under consideration.
Spurs are expected to further boost their bank balance with the sales of fringe players, such as Steven Bergwijn and Harry Winks.
