The Lewis family’s bank accounts could be boosted by £200m very soon amid reports that they are set to inject more money into Tottenham.
Spurs have made a quick start to the window, and much to the delight of supporters, are being proactive in trying to get deals done.
Reports indicate that Tottenham’s spending spree is expected to continue, with the club set for a busy summer as they rebuild their squad after narrowly escaping relegation.
Journalist Matt Law revealed a couple of days ago that the Spurs’ owners are expected to inject capital into the club this summer to aid the rebuild.
Lewis family set to sell art collection ahead of Tottenham capital injection
Football.London have now confirmed that the Tottenham owners will inject equity into the club soon, and they are now taking steps to raise those funds.
The Lewis family are looking to sell their vast art collection, estimated at around £200m.
The famous auctioneers Sotheby’s have announced a ‘Masterpieces from the Lewis Collection’ exhibition, with the sale set to go on view to the public from June 10–23 June, in a specially-designed exhibition in London.
Sotheby’s press release adds: “Estimated in the region of £200million, this will be the most valuable single-owner collection ever offered at auction in Europe, bringing together defining masterpieces of modern figurative painting.
“Assembled over decades by Joe Lewis and his daughter Vivienne, many of the works in the collection have been exhibited in major museums across the globe – a testament to their exceptional art historical significance – and many have not been seen on the open market for decades, if at all.”
Why Spurs cannot spend big without funds from the owners
While Tottenham have been backed to spend big this summer after two 17th-placed finishes, the club’s finances are not in great shape.
Spurs’ accounts show they have a major cash flow problem, with the club having accumulated enormous transfer debt over the years.
Therefore, unless there is a capital injection into the club, Tottenham Hotspur cannot afford a major net spend this summer, although the club are in a relatively decent position with respect to FFP compared to some of their rivals.