Tottenham owner’s £100m injection shows commitment, says club
Tottenham Hotspur’s owner, the Lewis family trust, has injected £100m in a move the club says underlines its long-term commitment to Spurs.
The extra cash 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,” Tottenham added.
“This additional capital is part of the Lewis family’s ongoing commitment to the club and its future.”
It comes after the Lewis family rejected three takeover approaches for the north London outfit in recent weeks, following the ousting of former executive chairman Daniel Levy.
The injection will bolster Tottenham’s balance sheet after the club spent more than half a billion pounds on transfers in the last three years.
“As I stated a few weeks ago, our focus is on stability and empowering the management team to deliver on the club’s ambitions,” said non-executive chairman Peter Charrington.
“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 [Venkatesham, CEO] and his team are supported in the best way possible to take this club forward.”
Tottenham valued at more than £3bn
The Lewis family, who own Spurs through their company Enic Sports and Development Holdings, have knocked back interest from consortia led by former Newcastle co-owner Amanda Stavely and two US groups.
They have insisted that they have no desire to sell a club that is now valued at more than £3bn following a revenue uptick resulting from a new stadium and rapid growth in sports team valuations.
Tottenham will benefit from competing in the lucrative Champions League this season after qualifying by winning the Europa League last term.
Participation in European club football’s top competition is worth an estimated £40m to Spurs as a minimum and more if they progress to the knockout rounds.