ENIC inject an extra £35m into Tottenham Hotspur with new shares

ENIC have made a small increase to their ownership of Tottenham Hotspur, despite protests from supporters urging them to sell the club.

How have Tottenham performed under the ownership of ENIC?

ENIC first bought shares in Tottenham at the beginning of the century from Sir Alan Sugar. The agreement saw Daniel Levy, who was a Spurs season ticket holder at the time, take Sugar’s seat on the board and become a non-executive director.

Although Spurs won the League Cup less than two years before ENIC’s arrival, they failed to win a trophy again until 2008. Once again this was the League Cup and it is the only time Spurs have lifted silverware under their current owners.

However, Tottenham achieved their highest finish in the Premier League table since the league was established, when they finished fifth in 2006. Since then Spurs have finished as high as second in 2017 and have reached four cup finals, including the Champions League final in 2019.

ENIC have increased their ownership of Tottenham

Tottenham have confirmed information on Companies House which shows ENIC have increased their share of Spurs by 0.33 per cent, paying £35m into the club, in an action finalised on December 31, 2024.

As per Football London: “The documents showed that 5,767,984 shares were allotted across two tranches during December as ENIC increased their holding within the club. The tranches included 4,111,643 at a price of £6.08 a share (£25million) and another 1,656,341 shares at £6.03 (£10million), making for a capital injection of £35million.”

This means their ownership has increased from 86.58 to 86.91 per cent, which reflects the sum of money they have recently invested due to the expansion of their business’s operation. ENIC also own the one THL convertible A share.

Levy along with certain members of his family are potential beneficiaries of discretionary trusts which own 29.88% of the share capital of ENIC. Being a potential beneficiary means they may receive income, assets, or dividends from the trust.

A discretionary trust of which certain members of Joe Lewis’s family are potential beneficiaries owns 70.12% of the share capital of ENIC.

The last time a statement of capital raised money for Spurs was in May 2022 when Tottenham drew down £110.6million of £150million offered by ENIC, which increased their share ownership.

ENIC have not been put off by Tottenham fan protests

When ENIC raised money for Spurs over two and a half years ago, Levy said the delivery of the Tottenham Hotspur Stadium was key to increasing revenue to invest in the team and consistently compete at the highest levels of European football. Spurs supporters unhappy with ENIC’s ownership will be quick to claim this has not been the case.

This season in particular has seen protests against Levy and the Spurs board, along with a number of supporter initiatives cutting ties with the club. However, with the business side of Tottenham looking fruitful, ENIC have blocked out the noise and continued to increase their involvement.

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