Spurs consider shares option

A statement issued to the Stock Exchange on Monday read: "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.

"As a result of the disposal of players that has 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 £5m."