Here comes Tottenham’s transfer war chest… Spurs’ owners ENIC pump £150MILLION into the club, days after their return to the Champions League, and announce ‘further investment’ to back Antonio Conte in the market
- Tottenham finished fourth to return to the Champions League on Sunday
- Players were desperate for manager Antonio Conte to be given funds to spend
- Italian manager will be eager to strengthen his squad in several different areas
- Now the club’s owners ENIC have injected £150m in through share issue
- Daniel Levy said the money will ‘enable further investment at an important time’
Antonio Conte has received backing for a summer spending spree after Tottenham Hotspur’s owners ENIC 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.
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.
Antonio Conte has received a boost ahead of a potential summer spending spree after Tottenham’s owners ENIC injected £150million into the club’s coffers
Tottenham secured fourth in the Premier League with a 5-0 thrashing of Norwich on Sunday
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.’
Senior Tottenham players had urged the club to back Conte when the transfer window opens
Chairman Daniel Levy said the cash boost came at an ‘important time’ for the club
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.
Eric Dier was among the Spurs players who called on Conte to be backed this summer
‘Additional capital from ENIC will now enable further investment in the Club at an important time.’
It was reported at the weekend that Harry Kane, Hugo Lloris and Eric Dier are among the senior Tottenham players to share Conte’s desire for the club to spend.
The dressing room believe Spurs are at a crucial juncture and want Italian manager Conte to be backed so they can compete on four fronts and challenge for silverware next season.
‘I think the club needs to take advantage of this moment, take advantage of this team and this manager. It’s in the club’s hands now,’ Dier said.
‘We’ve done our job and now it’s the club’s job this summer to do the best work they can.
‘I’m sure they’ll try to do their best to put us in a position next season for us and the manager to continue to push on and get better and better.’
Conte is expected to hold talks with managing director Fabio Paratici and Levy about plans going forward.
Conte has already proven his worth in the transfer market, as the signings of Dejan Kulusevski and Rodrigo Bentancur in January have both proven to be smart pieces of business.
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