Tottenham Hotspur clinched a top-four finish this past weekend, meaning they’ll have UEFA Champions League football next season. As a result, ENIC is ready to pump some money into the squad to strengthen it for 2022-23.
Spurs released a statement that the majority stakeholder, ENIC, has agreed to a capital increase of up to £150-million. The equity injection supplies the north London club with more significant financial flexibility and the capability to further invest on and off the pitch.
“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,” chairman Daniel Levy said.
“Additional capital from ENIC will now enable further investment in the Club at an important time.”
It will be interesting to see how much of this money goes into the summer transfer budget and whether this sum will go towards new recruits or help keep players like Cristian Romero and Dejan Kulusevski, who are on loan deals.
Many supporters and pundits are calling for Spurs to back manager Antonio Conte financially after he arrived in November to steer the ship back in the right direction, leading to the top four finish this season.
The issue is other marketing for the business. Levy not backing Conte is potentially brand damaging.
The oh I still feel the stadium is new line has very little legs as it will be the 5th season of Premiership it will see but the rights have not been sold.
Lockdowns are a thing of the past, so revenues should be easily predicable.
TV money is not decreasing.
The Chelsea buyout deal has put more £££s in Levy and Uncle Joe’s eyes
The penny that winning may actually have value, may have dropped.
Releasing the capital, which has to be done by the end of the year doesn’t look a risky gamble, esp for a spreadsheet specialist.
At the same time Levy has a record of backing away or changing the terms of a deal, even to lose out.
I don’t think you far off.
The Rudiger free transfer was mooted to have a 10mill sign on for him plus 10 mill for his agent as well.
FYI – The training ground main building is being expanded along with money spent on the women’s team training area. My view is we will spend, just not anywhere near that as a net figure…
the devils in the details indeed….timing, amount & small print…it could be used as down payment for the training ground expansion, flat development and yes they may use it for player down payments but this is in no way a “war chest”….
I like that Conte is on a 1-year contract now as it ensures Levy is held to account. I hope he gets the 6-9 new players needed, then signs a 1-year extension, rinse repeat.
I saw a report that Haaland’s transfer fee was £50 million and the agents got £40 million on top. think his father is one of his agents though I might be wrong on that score. Nice work.
Conte is in a strong position, he should say there are the players I want, have them signed before Spurs go on tour to South Korea and then I might consider a new contract.
Which is why this probably isn’t actually anything other than a PR stunt by ENIC to give the impression that they’re backing the manager ahead of sitting down with him. The devil’s in the detail with this and if those details do not give Conte the required levels of confidence that he can do is job properly, then he’ll be off.
Then the all the dumbos will fall for this ruse and claim that ENIC were ready to back him but he still walked. This is a tricky PR situation for Levy, if Conte wants more backing than Levy is prepared to provide then the only outcome is that he leaves for another job.
By making this announcement of a ‘war chest’ (I doubt it) it takes a degree of pressure off Levy from the supporters, if talks break down. Conte then agrees to the usual non-disclosure agreement to sever the remainder of his contract and makes a statement that it wasn’t to do with the level of backing offered;
“It was a big achievement and Tottenham has a special place in my heart, I am very proud. But now is not the time. for me to continue this project because I need to be ready to win big things now. Meester Levy is hungry to have success and is helping every way he can, I wish the club every success in the future”.
Stage management, Levy’s speciality. Yet not all of us are mugs…
A foolish move to let the football world know how much you have to spend on transfers.
Jay
at last someone who concurs with all the facts and info and rumour , its there for all to see , absolutely a shift [ hope its seismic!!] and ignore the detractors and cynics . This is a time in our history , all is in place to make that step up , steadily for now , but ONE TROPHY will change everything – and YES the target must be Chelsea and then……………innit exciting !!!!!!!!! C O Y S !!!!!!!!!!
Lets see how far the 150m goes,
It is only needed for the first down payment on a signing plus sign-on and agents fees. Any deal we do will have further repayments down the line.
The other part is how this gets spent.
That comes down to Levy releasing the reins and giving level of control over to the manager.
Chairman and Manager are control freaks, its going to be a ride to watch.
Four months ago our direct competitors looked like being West Ham and Southampton…steady there, cautiously optimistic
The key phrase being on and off the pitch.I still take this ‘investment’ with a pinch of salt.
I would love it to be true,but with Levy at the helm don’t be surprised at the stingg in the tail.
We haven’t had many good times in a long time at Spurs, but there feels like a massive seismic shift happening all around the club. So much so it doesn’t feel anymore that Arsenal are our direct competitors, Chelsea, Man City and Liverpool are.. .