Will Conte’s wishes come true?
As a result of January’s transfer activity, Tottenham manager Antonio Conte publicly complained that his squad had been weakened on paper – four losses versus just two additions. The “Telegraph” last reported in April that the Italian wanted up to six new players in the summer. After reaching the Champions League and the capital increase that “Spurs” announced on Tuesday, the club could probably meet these wishes from a financial point of view.
According to their own statements, Tottenham increased the capital by 150 million pounds (around 177 million euros): for “investments on and off the field”. This is made possible by the issuance of convertible A shares and the associated warrants by the majority shareholder “ENIC Sports Inc”. The securities can therefore be converted into ordinary shares. Club boss Daniel Levy and his family own 29.4 percent of the shares in the investment company ENIC, which in turn has held a majority stake in Tottenham since 2001, currently 85.6 percent. If all shares were converted, it would end up being 87.5 percent.
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Levy said in the club’s statement: “Providing a world-class stadium has always been an important building block to generate diversified revenues that allow us to invest in the teams and support our ambitions to consistently compete at the highest level of European football to play. Additional capital from ENIC will now allow further investment in the club at an important time.”
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The Tottenham Hotspur Stadium was completed in 2019 and recorded a 91.1 percent occupancy rate for Spurs home games in the past season – one of the lowest values in the Premier League, but compared to previous years with ghost games it still generated large revenues brought.
According to the Londoners, the financial injection can be accessed in tranches without interest until the end of the year in order to make investments.
Club announcement – Tottenham Hotspur Limited agrees a £150m capital increase.
— Tottenham Hotspur (@SpursOfficial) May 24, 2022
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