Sunday October 1, 2023

Tottenham’s Majority Owner Kicks Some Cash Into Club

  • Tottenham Hotspur is receiving a cash injection of $187 million.
  • The investment will be partly allocated toward the player transfer market.
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Tottenham Hotspur is receiving a cash injection of $187 million from its majority shareholder to invest in the Premier League club — both on and off the pitch. 

ENIC Sports, a British investment firm, purchased its 85.6% controlling stake in Tottenham in 2001 from politician and entrepreneur Alan Sugar for an undisclosed amount.

  • ENIC’s latest investment will be partly allocated toward the player transfer market.
  • It will be made via the issue of convertible A shares and accompanying warrants.
  • With the investment, ENIC’s stake could increase to about 87.5%.

The injection of fresh capital comes after Tottenham posted $106.9 million in pre-tax losses for the fiscal year ending June 30, 2021. The club generated $456 million in revenue during the same period, down more than 10% compared to the fiscal year prior.

The heavy losses were the result of a lack of fans at matches due to the global pandemic. Tottenham generated only $2.5 million in matchday revenue for the fiscal year ending June 30, 2021, as only two matches were played with live fans at a limited capacity.

More Money to Come 

Tottenham Hotspur is reportedly advancing discussions for a roughly $655.8 million naming rights deal for the $1.6 billion stadium it built in 2019. The club is reportedly holding out for a deal worth $32.8 million per year for at least 10 years, according to Football Insider.

An undisclosed company has reportedly negotiated a 20-year deal for naming rights to the stadium, which seats 62,000.

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