Tottenham chairman Daniel Levy has driven the release of £150m in transfer funds for manager Antonio Conte.

The London Evening Standard says in a potentially crucial juncture in Spurs' history, the club announced a capital increase of up to £150m from majority shareholder ENIC, marking a departure from the way Levy has run the club since 2001.

In effect, Spurs have issued £150m worth of new shares, which ENIC will buy, and its overall stake in the club could increase from 85.6 per cent to around 87.5 per cent. There is zero cost to Spurs and no additional debt for the club, with sources saying the move is designed to “support sporting ambition".

Levy has previously run the club on a strict profit and loss basis, with no financial backing from Joe Lewis, the billionaire owner of ENIC.

The club says the equity will allow further investment “on and off the pitch", and it is understood the majority will be available to head coach Conte to build a squad capable of challenging on four fronts next season.