Tottenham Hotspur are in receipt of £100 million ($133.7 million) in fresh capital from majority shareholder ENIC that the club hopes will provide resources for “long-term sporting success”.
After several near misses during the Mauricio Pochettino era, Spurs finally delivered on the pitch last season by winning the Europa League. That ended a 17-year trophy drought that had existed since 2008, with the club so far going strong in the Premier League, Champions League and Carabao Cup this season under the leadership of new manager Thomas Frank.
But there have been major changes at the top, with long-serving chairman Daniel Levy stepping down after 25 years and a new power structure taking shape.
Now, the club-controlling Lewis family, through holding company ENIC, are putting in a nine-figure capital investment to drive things forward at this crucial juncture.
“This equity injection will further strengthen the club’s financial position and equip the club’s leadership team with additional resources to continue the focus on driving long-term sporting success,” Spurs explained in a statement on Thursday morning.
Spurs: Intention to Empower Thomas Frank, Management Team
“This additional capital is part of the Lewis family’s ongoing commitment to the club and its future.”
Peter Charrington, director of ENIC, was brought on board by Spurs as non-executive director in March, before moving into a role as non-executive chairman as Levy was leaving. Former Arsenal managing director Vinai Venkatesham also joined the club as CEO in April.
“As I stated a few weeks ago, our focus is on stability and empowering the management team to deliver on the club’s ambitions,” Charrington remarked on the £100 million injection.
“I know the Lewis family are also ambitious for the future. Today’s capital commitment reflects that ambition and I would like to thank them for their ongoing support. We will continue to do all we can to ensure that Vinai and his team are supported in the best way possible to take this club forward.”
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This article was originally published on www.si.com as Tottenham Outline Objectives, Confirm Major Cash Injection.
