Tottenham Hotspur have spent £100m from their recent financial injection for transfers this summer and staff allowances.
One of the club’s major stakeholders ENIC, announced last month that they would be injecting £150 million into the club to boost its capital and acquire key assets.
However, we were led to believe that the club will use the money very prudently, but a London news agency has reported that the club has withdrawn £100 million of the funds and are planning to spend it mainly on new signings in the summer transfer window.
The executive chairman Daniel Levy had previously stated: “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.”
Moreover, the club is said to be looking to support Italian manager Antonio Conte in every possible way. The manager was rumoured at the end of last season to want out because he wanted assurances from Daniel Levy that he will be backed in the transfer market.
The club has already done some wonderful business so far in the transfer market. Spurs signed Swedish winger Dejan Kulusevki on a permanent move from Juventus. The Swede initially joined on loan from Juventus in January and has gone on to establish himself as one of the key players at the club.
The club also signed Malian international Yves Bissouma from Brighton and hove Albion for an initial fee of 25 million pounds rising to 35 million pounds.
Spurs also signed experienced forward Ivan Perisic and Southampton goalkeeper Fraser Forster on free transfers. The Croatian having previously worked with Conte is said to be a perfect option in attack for the Italian.
Reports also suggest that the club has held talks with AS Roma with a view to signing Nicolo Zaniolo and reports in Spain suggest that they are in talks to sign Clement Lenglet on loan from Barca. Meanwhile, the deal to sign Djed Spence is still in the offing.
The club has certainly decided to splash the cash to support Conte in this transfer window, it remains to be seen if they can ward off Real Madrid from signing their asset Heung-Min Son.