Tottenham's majority shareholder Joe Lewis has fallen two places in the Sunday Times Rich List. Lewis, who placed 41st on last year's list, is now ranked 43rd, with a personal fortune of around £4.285billion from his English National Investment Company (ENIC).
The British businessman left school at 15 to help his father run their West End catering business before taking it over himself and selling it years later. After selling his family business in the 1970s, Lewis made his wealth from currency trading over the next two decades before buying the majority stake in Spurs 20 years ago.
Tottenham announced on Tuesday that they would receive a cash boost of £150million after ENIC agreed a capital increase with Spurs, via the issue of convertible A Shares and accompanying warrants.
READ MORE: ENIC pumps £150m into Tottenham to help fund Antonio Conte summer transfer spree
The club announced that "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 chairman Daniel Levy said: “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.’’
