The Board of Tottenham confirms that it is in the early stages of considering a fund-raising in conjunction with its advisers to secure additional new funds.
No decision has been taken regarding either the size or the terms of a possible issue which may or may not proceed. A further announcement will be made in due course.
As a result of the disposal of players that have been made at a loss following the fall in player transfer values, it is expected that Tottenham will announce a loss before tax for the year to 30 June 2003 of not less than £5 million.
Tottenham Hotspur notes the recent press speculation concerning a possible equity fund-raising.