Journalist Ben Jacobs has shed light on what the £100m cash injection into Tottenham will be used for and why ENIC have decided to pump money into the club.
Since the Lewis family seized control of the club by getting rid of Daniel Levy as chairman, they have certainly made some big statements of intent.
Tottenham’s owners have repeatedly reiterated that they want to usher in a new era of on-pitch success and that they are committed to doing whatever it takes to achieve that.
We finally saw the first signs of their commitment earlier today, with Spurs confirming that their owners had injected equity of £100m into the club.
What will the £100m be used for at Tottenham?
This development will certainly excite Tottenham Hotspur fans, who will be hoping that the £100m will be added to Thomas Frank’s transfer kitty in January.
However, journalist Ben Jacobs has now explained that the money will not entirely be put to use for transfers, but is a move towards making the club financially stronger, more sustainable and strengthening its balance sheet.
He confirmed that some of the money will be used to strengthen the Spurs squad, but more broadly, it is an expression of ENIC’s commitment to the club and a sign that they are not looking to sell the asset.
Why this move represents a monumental shift in ENIC’s modus operandi
For a long time, Tottenham have been run in a self-sustaining model, with the owners showing no interest in investing their funds into the club.
Many Spurs fans will be aware that until today, ENIC had invested only £122.1m into Tottenham since buying the club in 2001, which has prevented the Lilywhites from pushing on and competing consistently for major honours.
However, this move by the Lewis family shows that they are ready to change the way they operate, which has been a long time coming, and is something that Spurs fans can be excited about.