Exclusive: Tottenham’s plan revealed after £100m injection
Tottenham’s owners have bankrolled a £100million injection in the form of a new share issue.
Tottenham announced on Thursday (9 October) the equity injection from ENIC – the club’s majority shareholders – will equip the leadership team with additional resources to continue the focus on driving long-term sporting success.
ENIC owns an 86.91 per cent stake in Spurs, while former executive chairman Daniel Levy and members of his family hold a 29.88 per cent share in the British investment company, and Joe Lewis’s family trust own the remaining 70.12 per cent.
Sources say Tottenham’s new leadership team, which is spearheaded by non-executive chairman Peter Charrington and CEO Vinai Venkatesham, will now decide which areas the money will be spent on strengthening.
It is understood the injection will largely cover the day-to-day operations at the Tottenham Hotspur Stadium, ensuring more cash is available without having to borrow further.
Tottenham owners respond to latest takeover approach
There has been plenty of speculation surrounding a Tottenham takeover since Levy’s departure was confirmed on 4 September.
A US consortium led by tech entrepreneur Brooklyn Earick made an approach to buy Spurs over the past couple of weeks.
Tottenham responded to the takeover approach after releasing a statement insisting they had “unequivocally rejected” an informal expression of interest from Earick, who has now confirmed he will not be making a formal bid.
Meanwhile, Spurs have also ended their relationship with Rothschild after insisting the club is not for sale.
It comes after Levy was in talks about selling a stake in Tottenham last year, with the club being advised by bankers from Rothschild on the sale.
Tottenham to make Thomas Frank budget decision
There have been suggestions the latest injection from ENIC could go towards strengthening Thomas Frank’s side in the January transfer window.
Sources say some of the money is likely to be earmarked for Tottenham’s budget, but the primary focus is around improving the club’s balance sheet.
Tottenham have the fifth-highest revenue in the Premier League, with their latest published accounts revealing a turnover of £528m for 2023-24.
Meanwhile, Spurs’ commercial revenue stood at £255m across the same period as they continue to cash in on opportunities at their new stadium.
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