Tottenham Receive £150m Cash Injection
Tottenham Hotspur’s majority shareholder, ENIC Sports, has invested £150m into the Premier League club via the issue of convertible A Shares and accompanying warrants. The funds will provide “greater financial flexibility and the ability to further invest on and off the pitch.”
The additional funds, in combination with revenue from a first full season at its new stadium at full capacity, comes on the back of Spurs returning to the Champions League and the financial benefits that provides. The added investment will not add any interest to the club.
ENIC, based in the Bahamas, is 70%-owned by the British businessman Joe Lewis, with Tottenham chairman Daniel Levy and his family owning the rest.
Levy commented, “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.”
Jonathan Turner, the club’s independent non-executive Director, added, “We’re pleased to welcome this investment which demonstrates the unequivocal support and commitment of our majority shareholder, ENIC.
“It is a timely injection of funds to ensure we can continue to grow the club we all love and underlines the board’s continued ambitions for success.”
Spurs’ 63,000-capacity Tottenham Hotspur Stadium was completed in 2019 but has yet to agree a naming rights deal. The club has also made improvements in the training centre and player accommodation. The new funding will allow the club to invest further as the club looks to push forward following a return to the Champions League.
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