Report provides update on the rest of that £150m investment from ENIC that Spurs can spend
Football.London have revealed that Tottenham Hotspur have withdrawn just £100m of ENIC’s £150m capital injection and that the remaining can be used during the summer transfer window. Tottenham announced in May of last year that the club had agreed on a capital increase of £150m from majority shareholder ENIC via the issue of convertible A […]
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Football.London have revealed that Tottenham Hotspur have withdrawn just £100m of ENIC’s £150m capital injection and that the remaining can be used during the summer transfer window.
Tottenham announced in May of last year that the club had agreed on a capital increase of £150m from majority shareholder ENIC via the issue of convertible A Shares and accompanying warrants.
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It was explained that the investment may be drawn in tranches until the end of 2022 and that if drawn in full, ENIC’s ownership of the club could see an increase from its current level of 85.6% to 87.5%.
However, Football.London have now revealed that Tottenham’s’ latest financial results, released on Friday, show that only £100m was drawn out and that appears to be reflected in a lower ownership increase, with ENIC’s shareholding increasing to only 86.58%.
The report further adds that the offer of a capital increase has been extended into 2023, with the club confirming that they can draw the remaining £50m to supplement their spending in the summer.
Spurs Web Opinion
It makes sense to save some of the funds for the summer transfer window as it is often very difficult to get your top targets during the January window, as Fabio Paratici alluded to in his interview with the club’s official website earlier this month.
Spurs will need significant reinforcements in midfield and at centre-back, among other positions, in the summer transfer window, which will likely take our spending to well above £100m.
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The post Report provides update on the rest of that £150m investment from ENIC that Spurs can spend appeared first on Spurs Web - Tottenham Hotspur Football News.