Tottenham secure £150m capital increase from owners ENIC

English Premier League football club Tottenham Hotspur has secured a capital increase of up to £150m (€176.5m/$189.5m) from its majority shareholder, ENIC Sports.

Tottenham said the equity injection will provide it with greater financial flexibility and the ability to further invest on and off the pitch, adding the club benefited from ENIC’s ability to invest directly, swiftly and without the extensive due diligence and documentation involved in third party funding.

ENIC, which acquired its controlling stake in Tottenham in 2001, has made its fresh investment via the issue of convertible A Shares and accompanying warrants. Under the agreement, its stake in Tottenham could increase from 85.6% to around 87.5% on conversion.