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Daniel Levy in talks to sell stake in Tottenham amid need for ‘significant increase’ in funds after transfer splurge
The club announced increased losses for the financial year
DANIEL LEVY has confirmed that Tottenham are looking to sell a stake in the club.
The club say they have already held talks with prospective investors as they look to raise capital to invest in the squad going forward.
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The intention to sell a stake in Tottenham was announced in a statement released alongside the club's financial results.
Tottenham's chairman, Levy, 62, said: "To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the Club requires a significant increase in its equity base.
"The Board and its advisors, Rothschild & Co, are in discussions with prospective investors.
"Any recommended investment proposal would require the support of the Club’s shareholders."
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The statement saw Spurs announce an increased loss of £86.8million for the year ending June 2023, up from £50.1m for the previous year.
The club explained that the losses were down to splashing out on players last summer.
They claimed the deficit “reflected the significant and continued investment in the playing squad” - though they also reported revenues of over half of a billion pounds for the first time.
Spurs bought the likes of Richarlison for £60m, Pedro Porro for £40m, Guglielmo Vicario for £17m and James Maddison for £40m during the period accounted for (up until June 30, 2023).
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The £104m sale of Harry Kane to Bayern Munich came after this period, so is irrelevant to the latest set of accounts submitted to Companies House - as is the £47.5m signing of Brennan Johnson from Nottingham Forest.
Spurs are currently fifth in the Premier League under Ange Postecoglou, which could be enough to seal Champions League qualification this season.
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But if the club are to qualify, they will no doubt need to spend big to bolster a squad that has grown used to playing one game a week.
Levy has been impressed with the job the Aussie has done since succeeding Antonio Conte - particularly with the implementation of a more exciting style.
The supremo said: “The 2023-24 season, the first under Ange, was always going to be one of building for the future.
“We have seen progress with the return of exciting, attacking football, even when faced with significant player injuries.
“We continue to challenge for the highest possible place finish with eight games still to play and hope to bring European football to our home stadium again.”
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