Report: Daniel Levy green lights Spurs to withdraw £100m for transfer fund boost

Daniel Levy has approved for Tottenham to withdraw £100m of the £150m ENIC cash investment to put towards the summer transfer window (Football London). This comes after the Spurs majority ownership increased capital by £150m last month, via convertible A Shares and accompanying warrants. Football London now report that Tottenham can withdraw this cash in […]

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Daniel Levy has approved for Tottenham to withdraw £100m of the £150m ENIC cash investment to put towards the summer transfer window (Football London).

This comes after the Spurs majority ownership increased capital by £150m last month, via convertible A Shares and accompanying warrants.

Football London now report that Tottenham can withdraw this cash in instalments across the year, with the first one coming as a £100m boost to their summer warchest.

The remaining £50m can still be withdrawn later in the year, and the vast majority of the £150m will reportedly be used to improve Antonio Conte’s squad in North London.

Spurs have already signed Ivan Perisic and Fraser Forster on free deals, while Football London believe the Yves Bissouma signing from Brighton could eventually go beyond the £30m mark.

However, with Conte wanting more additions and Levy withdrawing £100m in transfer kitty cash, there are seemingly more Tottenham signings on the horizon.

Spurs Web Opinion:

This is huge news for Tottenham. The £150m cash injection was good news, but actually seeing Spurs withdraw £100m to use on transfers is the confirmation we all wanted to see. It’s going to be a big few weeks for Paratici and Levy.

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