Amanda Staveley’s long-rumoured hopes of investing in Tottenham Hotspur may have just hit a major hurdle, due to changes in the way the Saudi Public Investment Fund (PIF) operates.
PIF are changing their strategy
Though Staveley is no longer directly involved with PIF after leaving Newcastle United, the businesswoman may still be looking to Saudi investors for her next move.
If so, she would likely find it more difficult to get what she wants this time around. That’s because, according to Al Arabiya, the Saudi sovereign wealth fund is scaling back its operations in the future.
Governor Yasir Al-Rumayyan announced at the Future Investment Initiative Summit that PIF will be reducing its overseas investments from the current 30%, to closer to an 18-20% share.
While PIF directly would not be able to invest in Tottenham due to a conflict of interests, virtually all funding from Saudi Arabia comes from the state fund. So, though Staveley’s potential backers may be separate legal entities to PIF, if the state is reducing its investment, that affects all Saudi groups.
Is Amanda Staveley investing in Spurs?
Staveley is known to be keen on investing in a new sporting project, with Spurs thought to be at the top of her list of potential investment opportunities.
It is believed Staveley and Spurs chairman, Daniel Levy, are now close friends. According to The Athletic, the former has possible backing from investors in the Middle East and the USA, but would only be looking for a minority stake in another club.
Staveley has apparently been very vocal to those closest to her about her interest in Tottenham.
A complex matter
It’s really hard to ascertain whether Staveley will actually get a deal across the line and become a shareholder in Tottenham. There’s so much going on behind the scenes, and business opportunities like these require plenty of negotiations and there are so many obstacles that can get in the way. Hopefully, something can be arranged, but it’s best not to expect a deal anytime soon.