Lewis family art sale rakes in huge nine-figure sum as Tottenham ramp up transfer plans

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Tottenham’s majority owners, the Lewis family, have just received a huge financial windfall, which could be good news for the North London club.Reports indicate that the Spurs’ owners are expected to inject capital into the club this summer to aid their rebuild, and we have perhaps already seen evidence of that in the way the club are operating this transfer window.It was reported by Football.London a few weeks ago, the Lewis family were set to raise funds by selling their vast art collection.The report claimed the overall collection was worth £200m, but that figure turned out to be a considerable underestimation.Photo by Vince Mignott/MB Media/Getty ImagesTottenham owners raise over £300m and set a new European recordFrance 24 reports that the auction of Joe Lewis’ private art collection went on sale in London on Wednesday and Thursday, and it set a record on the first day.The collection raked in a whopping $392.6m (£338m) on Wednesday, thanks in part to an Amedeo Modigliani nude portrait that set a European auction record.The report reveals that the Modigliani painting ‘Nu assis au collier’ (Seated Nude Wearing a Necklace) sold for $63.9m (£55m), the highest price ever achieved for any work by that artist in any auction across Europe.The sale on Wednesday featured a total of 48 artists, including Pablo Picasso, Rene Magritte and Gustav Klimt.More collections went on sale yesterdayWith the auction being a two-day event, France 24 reveal that 23 more works went under the hammer at the auction today.That includes Picasso’s ‘Buste de femme’ (Bust of a woman) from 1938, depicting French artist Dora Maar, which is valued at £12m-£18m, but we are still waiting for confirmation on how much was raised yesterday.The Lewis family has maintained that Tottenham is not for sale, and Spurs fans will be hoping for even more investment over the coming months.Alasdair Gold reports that this latest art auction ‘is not connected to the money they are putting into Spurs’ but it does demonstrate ‘the financial might of the family’.READ MORE: Fabrizio Romano says 29-year-old could be the next Tottenham player to leaveThe post Lewis family art sale rakes in huge nine-figure sum as Tottenham ramp up transfer plans appeared first on Spurs Web.