ENIC Group (formerlyEnglish National Investment Company) is a British investment company. ENIC is owned by the family trust ofJoe Lewis. ENIC'sBahamas-registered[1] subsidiary,ENIC International Limited, currently holds 86.58% of the total issued share capital of EnglishPremier League clubTottenham Hotspur. Ex Club chairmanDaniel Levy and his family own 29.88% of the share capital of ENIC International Limited, while adiscretionary trust of Lewis's family owns 70.12%.[2]
Previously a private investment trust,English National Investment Company was floated on theLondon stock exchange in 1997 asENIC plc and became aholding company for sports, media and leisure businesses. During the football investment boom of the mid to late 1990s, it began to acquire shares in football clubs aroundEurope and bought stakes in Tottenham Hotspur (29.9%),Rangers (25.1%),Slavia Prague (96.7%),AEK Athens (47%),Vicenza (99.9%) andBasel (50%).[3][4][5]
As well as football clubs, ENIC also invested in other businesses, such as software companyAutonomy, retailerWarner Bros. Studio Stores, gambling websiteukbetting.com and entertainment complexChurch Street Station.
In 2001 ENIC bought a controlling stake inTottenham Hotspur fromAlan Sugar and Levy becamechairman of the club. Later in 2001, ENIC's listing was transferred from the main stock exchange to theAIM index.[6]
In 2003,Joe Lewis andDaniel Levy, who controlled 52% of ENIC shares, formed Kondar Ltd to buy out the remaining shareholders. A cash offer of £40m was made to take the company back into private ownership.[7] Following the buyout, Lewis and Levy controlled 70.6% and 29.4% respectively of shares in ENIC, which was delisted from AIM and renamed ENIC Group.[citation needed]
In May 2006, ENIC transferred 61% stake in Slavia Prague to Czech brokerage firmKey Investments.[8][9] In January 2008, Key Investment breached the contract with ENIC and increased the equity of Slavia Prague.[9]
Following its purchase of Sugar's remaining shares in Tottenham Hotspur in 2007, ENIC continued to build up its stake, taking its shareholding to 85%. To fund this investment, it disposed of its stakes in other football clubs, as well as many of its media and entertainment businesses.[citation needed]
On 24 May 2022, Tottenham Hotspur announced a capital increase of up to £150 million from ENIC via the issue of shares. The announcement claimed "the equity injection provides the Premier League club with greater financial flexibility and the ability to further invest on and off the pitch."[10][11]