Spurs owner set to provide almost €200m in summer transfer cash

Music to ears of Antonio Conte who warned of need for investment to compete on all fronts

Tottenham's owner has invested €198 million (£150 million) into the club as it prepares to back Antonio Conte in the transfer market this summer.

The majority shareholder, Enic, has pledged the cash – via the issue of convertible A Shares and accompanying warrants – to provide “greater financial flexibility and the ability to further invest on and off the pitch”.

The additional funds, in combination with revenue from a first full season at their new stadium at full capacity, comes on the back of Spurs returning to the Champions League after two years away.

‘Important players’

It will be music to the ears of Conte, who warned about the need for investment in order to compete on all fronts next year. He has also spoken about the desire to improve his squad with “important players” and this will now give Spurs the opportunity to do so this summer.

"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," said chairman Daniel Levy.

Conte is due to meet with the club later this week to discuss his future, having previously refused to commit to being in the role next season.

The Bahamas-based Enic is 70 per cent-owned by the British businessman Joe Lewis, with Levy and his family owning the rest.