Tottenham receives injection of 150 million pounds

Tottenham owner ENIC Sports Inc. will inject £150M ($188M) into the club ahead of the new season. ENIC will allocate the funds to help the club invest on and off the pitch, according to a statement on Tuesday. It comes just days after Spurs secured qualification for the '22-23 Champions League. The money will allow Tottenham Manager Antonio Conte to strengthen his squad in the upcoming summer transfer window as he "bids to close the gap" on Liverpool and Man City next season. Under the terms of the capital increase from ENIC, Tottenham will issue convertible A shares and accompanying warrants. ENIC’s shareholding could increase from 85.6% to around 87.5% on conversion to ordinary shares (BLOOMBERG, 5/24).

Conte has "consistently said the squad needs improving if the club are to challenge for the top prizes." Tottenham Chair 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. Additional capital from ENIC will now enable further investment in the Club at an important time" (REUTERS, 5/24).

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