Tottenham Hotspur have reportedly raised £90m through a receivables financing deal related to the club’s future broadcasting rights.
Since Daniel Levy’s exit, there have been plenty of reports that the Lewis family are ready to inject over £100m into Tottenham so that the Lilywhites can go toe-to-toe with the biggest clubs in Europe.
Many Spurs fans have been sceptical about these claims of a big investment from ENIC, given that the owners have barely pumped any money into the club over the last 24 years.
A few days ago, Tottneham CEO Vinai Venkatesham hinted that investment may be on the way to Spurs, suggesting that the Lewis family know that a cash injection is needed for the club to compete for the biggest trophies.
Tottenham have raised funds but not through owner investment
Bloomberg have now reported that Spurs have added £90m to their coffers, but it has not come as equity from their owners. Instead, the money has been raised through a receivables financing deal with Macquarie Group Ltd.
Tottenham have agreed to give Macquarie Group income from their future broadcasting rights in exchange for a lump sum of cash upfront. The rights are tied to money due to Spurs from the Premier League from December 2025 to May 2026.
Other Premier League clubs have also struck similar deals with Macquarie Group in the past, including Nottingham Forest, who loaned £28m from them in 2023, backed by a transfer fee from a future player sale.
MORE SPURS STORIES
Why this may be an alarming sign for Tottenham fans
ENIC have invested only £122.1m into Tottenham since buying the club in 2001, which is why many were sceptical about claims that they are suddenly prepared to change the way they operate.
If this deal with Macquarie was the investment that the media have been referring to over recent days, it is a massive let-down, as the Lewis family has once again shown that they are not prepared to invest their money into the club.
What they have done is borrow against the club’s future broadcast earnings, which comes with risk. ENIC have to put their money where their mouth is if they do intend to make Tottenham a real force on the pitch.