The bulk of the £ 150m cash injection into Tottenham Hotspur will be put towards backing Antonio Conte in the summer transfer market as well as other incoming funds, football.london understands.
Spurs announced on Tuesday that ENIC owners had “agreed a capital increase of up to £ 150m via the issue of convertible A Shares and accompanying warrants” and that “the equity injection provides the Premier League Club with greater financial flexibility and the ability to further invest on and off the pitch “.
football.london understands that the majority of that £ 150m will be put towards backing Conte in the transfer market this summer in order to help him build a team that can challenge at the top of the Premier League and in the Champions League next season.
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On top of that Spurs will have the extra projected revenue from playing in Europe’s top club competition next season and also the funds generated by player sales. That means Conte and Tottenham’s managing director of football Fabio Paratici will have a real transfer warchest to operate with this summer.
Conte, Paratici and Spurs chairman Daniel Levy are set to sit down after the head coach returns from a break in Italy this week in order to discuss what comes next for him and the club. Conte has made it very clear that he needs to be winning trophies again next season and that the club much match his ambition.
The former Inter Milan and Chelsea boss is believed to be looking for at least six new signings to improve his squad and has spoken about needing to sign “important players” to challenge those at the top in the Premier League. He also wants the new players to arrive earlier in the transfer window in order to be involved in his grueling but vital pre-season sessions.
football.london reported on Sunday evening after Tottenham secured Champions League qualification that the club’s hierarchy were prepared to back Conte fully and placing him in a leading role in shaping how the north London outfit will look next season and what they can achieve.
Everyone within the club’s corridors has been taken aback by just how much the Italian has achieved on and off the pitch in only seven months and there is an excitement about what Conte can do with a full pre-season under his belt, a big transfer window and the backing of everyone to lead the way.
Many of his Tottenham players have spoken out about the club backing Conte, with Eric Dier saying on Sunday: “I think the club needs to take advantage of this moment, take advantage of this team and this manager. It’s in the club’s hands now. We’ve done our job and now it’s the club’s job this summer to do the best work they can. I’m sure they’ll try to do the best they can to put us in a position next season for us and the manager to continue to push on and get better and better. “
Spurs have reacted to the raised expectations at the club and Levy said on Tuesday about the £ 150m cash injection: “The delivery of a world-class home was always a key building block in driving diversified revenues to enable us to invest in the teams and support our ambitions to be consistently competing at the highest levels of European football. Additional capital from ENIC will now enable further investment in the club at an important time. “
Tottenham have recognized the crossroads that exist for them this summer with Manchester City and Liverpool set to strengthen further, the former having already agreed a deal for Borussia Dortmund striker Erling Haaland. Chelsea will have new owners and must rebuild, while Manchester United are set to spend big to help turn themselves around under new boss Erik ten Hag. Arsenal are also expected to make moves in the transfer market while rich newcomers Newcastle are looking to gatecrash the Premier League’s elite.
There is also the added need for all clubs to build bigger squads because teams will be able to use five substitutes in matches next season, handing more power to those sides that have extra quality on their benches.
It is also worth noting that ENIC’s cash injection will strengthen their grip on the club. If all of the £ 150m is used by the end of 2022 then their ownership of Spurs will see an increase from its current level of 85.6% to around 87.5%.
There is some outgoing money to take into account regarding current players. Tottenham will pay around £ 40m to make Cristian Romero’s loan a permanent move from Atalanta, although the club are expected to wait until next summer to do the same with Dejan Kulusevski’s loan from Juventus as they concentrate all of their remaining finances on adding more important players to Conte’s squad.
The £ 28m fee to Real Madrid for Sergio Reguilon’s 2020 move is understood to be due this summer, although the Spaniard could be sold if Conte gives that move the green light.
The club will also look for buyers for record signings Tanguy Ndombele and Giovani Lo Celso, while Cameron Carter-Vickers is set to bring in another £ 6m to the club, rising to £ 10m with add-ons, with Celtic the favorites to make his loan move there a permanent stay. Steven Bergwijn and Harry Winks are also both expected to move on in search of regular football next season ahead of the winter World Cup.
At his meeting with Levy and Paratici, Conte will decide which players in his squad can be allowed to leave if upgrades can be bought this summer.
It is likely to end up being a major squad revamp at Tottenham with the club expected to be in the market for a new left-sided center-back, a central midfielder, an attacking midfielder, a striker and a new goalkeeper, with Fraser Forster tipped to arrive on a free transfer as Pierluigi Gollini’s loan spell from Atalanta comes to an end. Wing-back and further center-back signings will also be made if expected departures occur in those departments.
It’s set to be a whole new ball game at Tottenham this summer with their extra financial might in the transfer window, but the key for Paratici will be to make the right signings for Conte rather than continuing the club’s string big-money failures of previous years .
Spurs have their Rolls Royce in the Italian and now they have to ensure he has the right parts to drive them to the top.