Tottenham today revealed that Michael Ashcroft, the deputy chairman of the Conservative Party, has bought a four per cent stake in the club.

Lord Ashcroft, who is also Watford's biggest shareholder, is believed to have held a small stake in Spurs for some time but only recently broke through the three per cent threshold, forcing him to go public.

A wealthy entrepreneur with an estimated fortune of £950million, Ashcroft is not believed to be a big football fan but became involved in the game in 2006 when he acquired 42 per cent of the Hornets in a £4m deal.

His Spurs stake is currently worth £5.2m. Like Watford, Spurs plan to increase the size of their stadium in a move which could significantly increase their revenue.

The club, who are listed on the alternative investment market, have also seen the value of their shares soar over the past year amid speculation that club owners Enic could be ready to sell.

Spurs, 11th in the Premier League, would be even more attractive to investors such as Ashcroft if they can break the Big Four clubs' stranglehold on Champions League places.

Despite being one of the top-20 richest clubs in Europe, Spurs have never qualified for the Champions League but defender Alan Hutton is hopeful they can do it next season.

The right-back, signed from Rangers for £9m in January, said: "I wanted to come here and progress as a player and I think I can do that. I have fitted into the squad quickly and hopefully I and the team can improve next season.

"I don't see why we cannot force our way into the top four. The manager will be strengthening the squad, so hopefully we can challenge in the future."

Hutton was unable to prevent Middlesbrough from snatching a point in a 1-1 draw on Saturday after an own goal by Jon Grounds put Spurs in front. The visitors levelled through Stewart Downing.