Spurs owner set to provide almost €200m cash for summer transfers – The Irish Times

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The Tottenham owner has invested €198m (£150m) in the club as he prepares to back Antonio Conte in the transfer market this summer.

Majority shareholder Enic has pledged the money – through the issuance of convertible A shares and accompanying warrants – to provide “greater financial flexibility and the ability to invest more on and off the pitch”.

The extra funds, combined with revenue from a full first season at their new stadium at full capacity, come from Spurs’ return to the Champions League after a two-year absence.

“Important Players”

It will be music to the ears of Conte, who warned of the need to invest to be competitive on all fronts next year. He also spoke of a desire to improve his squad with ‘important players’ and it will now give Spurs the chance to do so this summer.

“Delivering a world-class home has always been key to generating diversified revenue to enable us to invest in the teams and support our ambitions to constantly compete at the highest levels of European football. Additional capital from Enic will now enable additional investment in the club at an important time,” said chairman Daniel Levy.

Conte is due to meet the club later this week to discuss his future, having previously refused to commit to the role next season.

Bahamas-based Enic is 70% owned by British businessman Joe Lewis, with Levy and his family holding the rest.

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