Shareholders at Tottenham Hotspur have given chairman David Levy the go ahead to raise funds through a new share scheme.
Levy and his company ENIC wish to raise £15m to spend on new players but were opposed by several board members who claimed the scheme was unfair on smaller shareholders and accused them of trying to take over the club at a cut down price.
For the scheme to be approved ENIC needed a 75% majority of votes at the club’s extraordinary general meeting, which they just passed gaining 77% to the delight of Levy.
“I very much hope that fans will see a strengthening of the squad in the summer. We do not have a great deal of time left in this transfer window, but we are working on several deals,” he said.
Levy is looking forward to working with the new manager and believes whoever that might be will be attracted by the money the new scheme will make available.
“Hopefully we shall go on and appoint a top-class manager in the summer,’ he added.
“Had this vote gone against us, it would have shown certain outside parties that the shareholders base was in disarray, and why come to a club in that situation? But nearly 80% have voted in favour and I think that says something.”