Tottenham have an extra £150million to play with after ENIC agreed a huge capital increase ahead of the summer transfer window.
Tottenham have qualified for the Champions League after hammering Norwich City 5-0 on Sunday afternoon.
Antonio Conte has guided Tottenham back into the Champions League and will now be looking for major signings this summer.
Some have wondered whether Tottenham can really kick on and invest in the kind of quality players Conte wants.
Yet Conte and Fabio Paratici have now been handed a major boost with money being pumped in.
Tottenham have an extra £150million
Tottenham have today announced a major cash windfall as ENIC have pumped £150million into the club.
The boring part is that ENIC have put the money in through the issue of ‘convertible A shares’ and ‘accompanying warrants’.
The exciting part is that Tottenham have confirmed the cash injection is to provide ‘greater financial flexibility’ and the prospect of investing both on and off the pitch.
Chairman Daniel Levy has now given his view on the news, telling Tottenham’s official website that Tottenham want to compete consistently in Europe.
Levy added that this financial boost comes at an ‘important time’ having returned to the Champions League.
“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,” said Levy. “Additional capital from ENIC will now enable further investment in the Club at an important time,” he added.
Tottenham can say that the money will be going to both on and off-field purposes but fans will of course think about transfers.
That this money comes so soon after qualifying for the Champions League will give fans real hope of a busy summer window.
Combining the Champions League money with ENIC’s cash injection may just allow Tottenham to sign some quality players.
Inter Milan’s Alessandro Bastoni is a top target but he will cost north of £50million. The same goes for another left-sided defender in RB Leipzig’s Josko Gvardiol.
The Telegraph add that Tottenham want Manchester City striker Gabriel Jesus, who will likely cost at least £40million.
Not all of that money will go to signings but it may well help Tottenham add a couple of elite signings to really challenge in the Premier League and Europe moving forward.
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