Tottenham Hotspur’s owners have pledged to keep pumping money into the club to “deliver success” after announcing a £100million cash injection on Thursday.
In a statement, the club said the £100m capital, which was provided by the Lewis family through ENIC, would “further strengthen the club’s financial position and equip the club’s leadership team with additional resources”.
The funding is the biggest known cash injection from ENIC since its takeover of Spurs in 2001, although it released £150m worth of capital in May 2022 — with the club only taking up £97.5m.
A source close to the Lewis family insisted future funding would be provided following talks with the club’s leadership, telling The Athletic: “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.”
The £100m cash injection in return for just shy of 13.5 million shares increases ENIC’s stake in Spurs to 87.62 per cent, up from 86.91 per cent.
The Lewis family have insisted they want to prioritise sporting success following the removal of Daniel Levy as executive chairman after 24 years in charge on September 4.
Since Levy’s surprise exit, the family has rejected three approaches from potential takeover candidates — the latest from American tech entrepreneur Brooklyn Earick, who ruled out a formal bid for Spurs on Tuesday.
The Lewis family have repeatedly said the club is not for sale.
Commenting on Thursday’s £100m injection, non-executive chairman Peter Charrington said: “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 and his team are supported in the best way possible to take this club forward.”
ENIC was founded by British businessman Joe Lewis but the Bahamas-based billionaire handed over the control of the company to his family trust in 2022.
The younger Lewises — Joe’s children Vivienne and Charles, and his son-in-law Nick Beucher — are now in control at ENIC, while the day-to-day running of Spurs has passed to Charrington and chief executive Vinai Venkatesham.
The remaining 12.38 per cent of Spurs which is not controlled by ENIC is owned by a group of minority investors. Meanwhile, Levy and certain members of his family still own 29.88 per cent of ENIC.