Kieran Maguire issues verdict on Joe Lewis financing Tottenham signing blitz
Joe Lewis has not personally put his hand in his pocket for the recent £150million Tottenham capital injection because he can make more money elsewhere.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about ENIC’s headline-grabbing investment in the North London club.
Spurs announced on Tuesday (24 May) that they would invest £150m in the club in the form of a capital increase.
The Athletic reported the following day that ENIC has borrowed the money rather than drawn on its own reserves.
It is also understood that the investment was championed by Daniel Levy rather than Lewis, who owns 86 per cent of the ENIC group.
Maguire explained why Spurs’ owners would choose to borrow the money rather than simply stumping it up themselves.
“Borrowing rates are still so cheap that Joe Lewis would rather invest his own money in other projects that are more lucrative,” he told Football Insider’s Adam Williams.
“If I can invest my money in a project that gives me a seven per cent return, I might as well go and borrow from the markets at one or two per cent.
“It’s not that Joe Lewis doesn’t have the money, it’s that he can earn a far higher return if he invests it in other projects.”
Tottenham lost £80.2m in 2020-21, according to their accounts for the financial year.
Their last capital injection came back in 2004 and was worth £15m.
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