ENIC pumps £150M into Tottenham amid Conte appeal | OneFootball
ENIC pumps £150M into Tottenham amid Conte appeal
Tottenham Hotspur's owners ENIC have pumped £150million of capital into the club.
Spurs qualified for next season's Champions League on Sunday by finishing the Premier League season in fourth place, bumping north London rivals Arsenal into the Europa League.
Manager Antonio Conte, players and fans alike have urged the club's hierarchy to release funds for summer spending so they can kick on and challenge for trophies next season.
That appears to have now been realised after the club announced the cash injection, "via the issue of convertible A Shares and accompanying warrants", on Tuesday.
ENIC are owned by British businessman Joe Lewis, 85, who according to the 2021 Sunday Times Rich List has a net worth of £4.33billion. Lewis is the majority owner of Tottenham.
A club statement read: "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."
Tottenham chairman Daniel Levy said: "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."
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