Tottenham Hotspur have been handed an initial £100million by the Lewis family, who own the club, with the promise of more to come in the near future
Tottenham Hotspur's owners, the Lewis family, have injected an initial £100million into the north London club, promising more funds to follow.
After turning down three preliminary takeover bids in the past month, the influential family, who own Spurs through a trust and investment company ENIC, have now ploughed the nine-figure sum into the Premier League team as the first instalment of new capital. Since chairman Daniel Levy's departure last month after 24 years at the helm, the Lewis family have taken a more public role in supporting the club.
Siblings Vivienne and Charles Lewis, the offspring of former Tottenham owner Joe Lewis, have stepped up alongside Vivienne's son-in-law Nick Beucher.
The trio have been regularly seen in the director's box at recent Spurs matches, with Vivienne joining the club on their summer pre-season tour to Asia and Beucher accompanying her in Bodo last week for the Champions League match and at Sunday's NFL game between the Minnesota Vikings and Cleveland Browns at the Tottenham Hotspur Stadium.
A source close to the Lewis family told football.london about the cash injection. They said: "This is initial additional funding. As the club's management decides what's needed to deliver success, more money will be available. The Lewis family is committed to backing the club to be successful."
Spurs issued their own statement following the financial injection, declaring: "This equity injection will further strengthen the club's financial position and equip the club's leadership team with additional resources to continue the focus on driving long-term sporting success. This additional capital is part of the Lewis family's ongoing commitment to the club and its future."
Tottenham's new non-executive chairman, Peter Charrington, added: "As I stated a few weeks ago, our focus is on stability and empowering the management team to deliver on the club's ambitions.
"I know the Lewis family are also ambitious for the future. Today's capital commitment reflects that ambition and I would like to thank them for their ongoing support.
"We will continue to do all we can to ensure that Vinai [Venkatesham] and his team are supported in the best way possible to take this club forward."
On Monday, Brooklyn Earick and his 12-strong American consortium revealed they would not be moving forward with a takeover bid despite reports of a planned £3.3billion offer and an additional £1.2billion earmarked as transfer funds for head coach Thomas Frank.
Earick became the third interested party to pull out within the past month, following Amanda Staveley and PCP International Finance, along with an Asia-based group of investors headed by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.
Despite rumours, Spurs and the Lewis family have consistently stated that the club is not on the market. Both CEO Venkatesham and Frank have publicly echoed this sentiment on their behalf, and their recent £100million investment seems to further reinforce this stance.