LONDON (AP) — The owners of Premier League club Tottenham plan to give the club a cash injection of up to 150 million pounds ($188 million), amid calls from manager Antonio Conte to reinforce the squad following qualification for the Champions League.
Majority shareholder ENIC pledged the cash via the issue of convertible shares to provide “greater financial flexibility and the ability to further invest on and off the pitch,” the north London club said Tuesday.
The additional funds, in combination with revenue from a first full season at their new stadium at full capacity, comes on the back of Conte’s side finishing fourth in the Premier League.
Tottenham reached the 2019 Champions League final but failed to qualify for the competition the last two seasons.
“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.”
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