Kieran Maguire details £340m Tottenham burden as Lewis family documents emerge on Companies House
The Lewis Family are in a battle to clear £340million worth of debt at Tottenham, Kieran Maguire has exclusively told Tottenham News.
ENIC have taken over the reins at Tottenham from Daniel Levy after the chairman made the shock decision to leave in N17.
This was celebrated by the Tottenham Hotspur Stadium faithful as the Lewis’ showed their commitment to the success of Tottenham.
Positivity has emanated onto the pitch with Thomas Frank getting a positive tune out of his side since taking over from Ange Postecoglou.
The view from the outside might be papering over the cracks in North London, as Maguire revealed the actual state of the Lilywhites behind the scenes.
ENIC’s £100m investment to battle against Tottenham debt
Spurs fans were left calling for Antoine Semenyo as a big-money signing after news of a cash injection emerged.
Details revealed on Companies House on Thursday outlined that an investment of £100m had been pumped into Tottenham by ENIC.
These hopes from supporters of how this money could be spent have been spread around social media as they dream of a much-improved squad moving forward.
Finance expert Maguire has crushed these dreams after suggesting that this financial influx is to help combat the £340m that the Lilywhites owe to other parties.
Speaking exclusively to Tottenham News, Maguire said: “It’s more to do with cash flow than anything else. Spurs owe £340m in instalments in unpaid transfer fees, for example.
“Spurs have spent £100m a year in the transfer market in 6 years out of the last 7, it’s how well it is spent that is the issue.“
Tottenham’s lack of transfer spend is a myth
The North London club were said to be unambitious in the transfer market under Levy.
Looking back, this isn’t truly the case, as the spending was proven to be unwise because a number of signings failed to live up to expectations.
Spurs’ second most expensive signing of all time is Tanguy Ndombele and everyone knows how that went for the Frenchman.
Richarlison, Davidson Sanchez, Giovanni Lo Celso, Steven Bergwijn and Roberto Soldado are all seen as wasted signings, despite coming in at a combined figure in the region of £180m.
- Richarlison – signed from Everton for £60m
- Davidson Sanchez – signed from Ajax for £42m
- Giovanni Lo Celso – signed from Real Betis for £27.2m
- Steven Bergwijn – signed from PSV for £26.7m
- Roberto Soldado – signed from Valencia for £26m
This is just a selection of terrible transfer business on White Heart Lane, proving that the issue isn’t a lack of funds; it is the recruitment strategy.
The £100m injection from ENIC is set to be used on clearing debt, which looks like a wise option given that there are seemingly funds already available for transfers.
Enjoyed this article? Stay connected with all the latest Tottenham Hotspur news, updates, and behind-the-scenes content by following us on our new Instagram account – @tottenhamnews247