Premier League: Are Tottenham ready for the Champions League?
The first in a series of articles that will look at how teams did throughout the 21/22 season, and ask how they could improve for next season.
In our first season summary, we have already spoken about Man City being crowned champions. Now it's time to focus on Spurs.
This Spurs fan is clearly happy!
Sacked Mourinho. Kane wanted to leave. Spent three months looking for a manager that included Gattuso & Fonseca. Hired Nuno, lost 0-3 to United, Nuno sacked. 9th in November.
— The Spurs Express (@TheSpursExpress) May 22, 2022
Six months later #Spurs have Champions League football.
Thank you Antonio for making us believe again. pic.twitter.com/wJNMyeO1WJ
Antonio Conte told the media that leading Tottenham back into the Champions League by finishing fourth as one of the best achievements of his career.
Spurs hammered Norwich 5-0 on the final day of the season to secure their return to Europe's top club competition at the expense of rivals Arsenal.
When Conte was appointed, Spurs were eighth in the table having suffered a miserable 3-0 home defeat by Manchester United. This was their fifth loss in seven league games, and the team appeared to be in disarray.
The Italian's reign has not been without its issues, of course, with February's reverse at home to Wolves spelling the first time Conte had lost three league games in a row since his days managing Atalanta in 2009.
Premier League: Tottenham Hotspur 0 - 3 Manchester United (eurosuperfootball.blogspot.com)
The situation now looks a lot more positive for Spurs. The new investment could help them thrive next season.
A statement on the club website reads
Tottenham Hotspur Limited has, agreed a capital increase of up to £150m from majority shareholder, ENIC Sports Inc (“ENIC”), via the issue of convertible A Shares and accompanying warrants.
The equity injection provides the Premier League Club with greater financial flexibility and the ability to further invest on and off the pitch.
The investment represents permanent capital, with no ongoing interest cost to the Club, and which may be drawn in tranches until the end of the year. The Club’s independent directors have benefited from its majority shareholder’s ability to invest directly, swiftly and without the extensive due diligence and documentation involved in third party funding.
Under the agreed structure the A Shares can be converted into ordinary shares. The number of ordinary shares granted to ENIC as a result of the capital increase will vary depending on when the A Ordinary Shares are converted, when the warrants are exercised and valuations at the time.
If drawn in full, and based on assumptions regarding the above, ENIC’s ownership of the Club could see an increase from its current level of 85.6% to circa 87.5% on conversion. Any dilutive impact is dependent on the number of shares granted and will be shared by all shareholders proportionately and principally by ENIC, the majority shareholder.
ENIC acquired a controlling stake in the Club in 2001. The Club’s strategy has been to deliver world-class facilities and increased, diversified revenues to support on pitch performance whilst at the same time maintaining long-term financial stability.
Daniel Levy, Chairman, Tottenham Hotspur said: “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.’’
Club announcement - Tottenham Hotspur Limited agrees a £150m capital increase.
— Tottenham Hotspur (@SpursOfficial) May 24, 2022
One Spurs fan replied: " For people asking what does that mean - it means we are winning the league next season."
Another joked to us: "Knowing our club, we'll start next season in the Champions League but finish in Eurovision."
