Tottenham receive £150 MILLION cash windfall
Paul Macdonald
- 24 May 2022 15:35 BST
- 3 min read
Tottenham are set to receive a massive £150m transfer war chest to invest in transfers ahead of their return to the Champions League next season.
Owners ENIC have pledged the significant sum to Antonio Conte in order to bolster his squad as they look to compete on multiple fronts next season.
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The club announced: "The equity injection provides the Premier League club with greater financial flexibility and the ability to further invest on and off the pitch.
"The investment represents permanent capital, with no ongoing interest cost to the club, and which may be drawn in tranches until the end of the year.
"The club’s independent directors have benefited from its majority shareholder’s ability to invest directly, swiftly and without the extensive due diligence and documentation involved in third party funding."
Tottenham's Champions League qualification on the final day of last season has meant that Conte now has the power to go and strengthen in multiple positions - something that the manager had been frustrated with since his arrival in London.
Conte is looking to build out a team capable of challenging both domestically and in Europe, and this huge backing could signal the arrival of two or three world class signings to complement the obligated deal for Dejan Kulusevski from Juventus.
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Chairman Daniel Levy added: "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.’"
Read more about: Premier League, Tottenham
