Tottenham to get £150m boost after Champions League qualification
- Published
Tottenham's 5-0 win at Norwich on Sunday saw Spurs finish fourth in the Premier League, one place above rivals Arsenal
Tottenham's majority shareholders ENIC Sports Inc have announced they will be putting an extra £150m into the club.
The announcement came two days after Spurs secured Champions League football for next season by beating Norwich 5-0 to finish fourth in the Premier League.
Boss Antonio Conte has previously asked for his squad to be strengthened.
"Additional capital from ENIC will enable further investment in the club at an important time," said Spurs chairman Daniel Levy.
The money can be spent on transfers and player wages if needed.
A Tottenham statement said the "investment represents permanent capital, with no ongoing interest cost to the club" and provides the club "with greater financial flexibility and the ability to further invest on and off the pitch".
Spurs' near 63,000-capacity Tottenham Hotspur Stadium was completed in 2019 and the club have also made improvements in the training centre and player accommodation.
Jonathan Turner, the club's independent non-executive director, added: "We're pleased to welcome this investment which demonstrates the unequivocal support and commitment of our majority shareholder, ENIC.
"It is a timely injection of funds to ensure we can continue to grow the club we all love and underlines the board's continued ambitions for success."
Antonio Conte has been manager of Tottenham since November after the sacking of Nuno Espirito Santo
Analysis - Cash investment a big boost for boss Conte
Simon Stone, BBC Sport
Coming less than 48 hours after Tottenham secured a return to the Champions League after a three-year absence, this is major news, which should be greeted enthusiastically by manager Antonio Conte.
Despite a top-four finish, Conte is known to be uncertain about a number of his players and has been demanding significant investment. This move allows exactly that.
It is not certain the entire £150m will be ploughed into his squad - either through transfer fees or wages - but the potential exists for it to happen, with sources underlining Tottenham's ambition for sporting success to go alongside their magnificent new stadium and state-of-the-art training ground.
I have been told representatives from owners ENIC, the club and the management team will decide the best way to use the funds.
But 12 months on from being embroiled in the Harry Kane transfer saga, it seems this summer, debate around Tottenham transfers will be conducted from a somewhat more positive standpoint.
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