Kieran Maguire: Tottenham ‘making a statement’ as ‘truth’ revealed
Tottenham are “making a statement” to both their fans and Antonio Conte with a £150million capital injection.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the ENIC ownership group and their ambitions in North London.
Spurs announced on Tuesday (24 May) that £150m of equity had been plugged into the club.
The news came just days after Conte’s side sealed a lucrative top-four spot on the final day of the 2021-22 campaign.
And Maguire argues that the capital injection was designed with the manager’s summer recruitment budget in mind.
“Joe Lewis is really the power behind the throne with this,” he told Football Insider’s Adam Williams.
“Spurs have a lot of long-dated borrowing. All they have to do is meet the interest on their borrowings. Because they have borrowed at such low-interest rates, that’s not a problem.
“With this, they are looking for short-term working capital. The fact that the club has announced it on the website is very indicative they are making a statement to key stakeholder groups.
“The truth is Antonio Conte and the fans will be placated by this. They are saying they are serious and want to win trophies. Football is a talent business and talent is recruited with money.”
Spurs posted an £80.2m loss in their accounts for the 2020-21 campaign.
The last time they had a capital injection was back in January 2004.
In other news, expert suggests Jack Clarke will re-sign for Sunderland “very quickly” amid Tottenham claim.