Spurs owners take 12-month investment to £300m with fresh £120m injection
Tottenham Hotspur’s majority owners will take their investment into the club to beyond £300m in the last year after agreeing to an additional £120m injection.
The family of billionaire Joe Lewis – which owns 70 per cent of the controlling ENIC Sports Inc company – have pumped £120m into the north London club, who currently sit 17th in the Premier League.
It takes their investment over the last year to £320m, and the fresh injection – set to be for working capital – will see the family buy new shares into the controlling ENIC Sports Inc, according to Bloomberg.
The club spent heavily in the summer having had consecutive domestic campaigns of underperformance. They signed Sandro Tonali from Newcastle United for more than £90m while Mateus Fernandes (£85m, West Ham United), Savio (£75m, Manchester City) and Jan Paul van Hecke (£52m, Brighton and Hove Albion) all represented significant financial outgoings.
Spurs’ fresh injection
It is not yet known whether fellow shareholder Daniel Levy will participate in the investment, with reports earlier this year suggesting that he had sold significant chunks of his stake in the club.
Tottenham Hotspur is owned by ENIC Sports Inc – with the likes of Levy and the Lewis family trust part of the firm that owns 88 per cent of Spurs – while there are a number of minority shareholders.
Earlier this year the Lewis family said that solving the club’s problems “will require investment and we are fully committed to this”.
“We are not selling the Club,” a statement to Tottenham Hotspur’s fans added. “We are all in, we are investing in it. You will see more of this in the coming months.
“We care deeply about Spurs. The rebuild the club needs, and you deserve, has begun. The change required is deep. It will take time and commitment, but change is happening.”
The club takes on Aston Villa on Saturday in the Premier League.