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Former Tottenham Hotspur chairman Sir Alan Sugar has sold his remaining shares in the club to Enic International.

The business magnate, made famous by his association with the north London side and later his television show The Apprentice, will receive a dividend of £25 million from the deal.

His total holding in the club, which will be transferred to Enic on July 2nd, totalled 13,646,026 ordinary Tottenham shares valued at 113.6 pence each and 5,358 preference shares valued at £1,773.77 each.

A statement from Sir Alan Sugar's holding company Amshold said: "Tottenham Hotspur has made significant progress in the six years since the Enic Group first became a shareholder and we believe its future prospects are encouraging.

"Enic International has now taken the opportunity to increase its shareholding in Tottenham Hotspur, taking it from 54 per cent to 66 per cent on a fully-diluted basis, as a sign of its long term confidence in the club and to provide ongoing stability to the club."

The statement also reassured existing Spurs shareholders that although the agreement "has triggered offers under rule nine of the City code", which states that a compulsory offer must be made for all the remaining company shares once one party's holding reaches a certain level, the club listing on the Alternative Investment Market (AIM) "will be maintained".

Sir Alan Sugar's sale of shares means that the latest valuation of Tottenham, who have finished fifth in the Premiership for the last two seasons under the management of Dutchman Martin Jol, is £210 million.