Tottenham Spurs manager, Antonio Conte has received a financial boost of £150 million ($187.64m) to give his team a better chance to compete for honours in the EPL and the UEFA Champions League next season.
ENIC Group, owned by 85-year-old British businessman Joe Lewis, announced the capital increase for Spurs, who finished fourth in the Premier League this term, via the issue of convertible A Shares and accompanying warrants in a club statement.
“The equity injection provides the Premier League club with greater financial flexibility and the ability to further invest on and off the pitch,” Spurs said in a statement on Tuesday.
“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.”
Conte’s side returned to European football’s elite club competition with a 5-0 win over Norwich City on the final day of the season on Sunday.