logo

Spurs get 150m pounds from owners ENIC to help boost transfer fund

Tue 24 May 2022 | 16:22

Tottenham have got a financial injection and Antonio Conte has been guaranteed six signings for 2022-23.

After agreeing to a capital injection of up to £150 million from the club's majority shareholder ENIC Sports Inc, 

Tottenham

said they could make more investments on and off the field (ENIC).

The

Premier League

club says that this increase in equity was made possible by "the issue of convertible A shares and accompanying warrants." In a statement, Spurs said that the investment "represents permanent capital, with no ongoing interest cost to the club, and it can be drawn in tranches until the end of the year."

The statement also said that Spurs' "independent directors have benefited from [their] majority shareholder's ability to invest directly, quickly, and without the extensive due diligence and paperwork with third-party funding."

ENIC can now increase its ownership from 85.6% to 87.5%. Reports said that Antonio Conte, who led Spurs to a spot in the Champions League, had been promised up to six new players in the offseason.

Spurs chairman

Daniel Levy

said, "The delivery of a world-class home was always a key building block in driving diversified revenues to invest in the teams and support our goals of always competing at the highest levels of European football. Now that ENIC has given us more money, we can make more investments in the club at a significant time."


source: SportMob

DISCLAIMER! Sportmob does not claim ownership of any of the pictures posted on this website. Again, we do not host pictures or videos ourselves. Our authors merely link to the rightful owner. Lastly, Sportmob have carefully considered and reviewed all of its content. Despite that, it is possible that some information might be out-dated or incomplete.