Transfers

Tottenham boss Antonio Conte boosted by 150m cash injection from owners

Daily Mail Online

Antonio Conte has received backing for a summer spending spree after Tottenham Hotspur’s owners ENIC pumped £150million of capital into the club on Tuesday.

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 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

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 Tottenham secured fourth in the Premier League with a 5-0 thrashing of Norwich on Sunday

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 Senior Tottenham players had urged the club to back Conte when the transfer window opens

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 Chairman Daniel Levy said the cash boost came at an 'important time' for the club

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 Eric Dier was among the Spurs players who called on Conte to be backed this summer

Read more – Daily Mail Online

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