Tottenham chairman Daniel Levy has reportedly held talks with US billionaires to discuss the sale of the club. But discussions have broken down due to Levy’s high valuation and the fact he wants to remain at Spurs either as an investor or as an executive in charge of sporting decisions.
ENIC International Limited currently owns 86.58 per cent of Tottenham, with the other 13.42 per cent of the club owned by minority investors.
Levy has a 29.88 per cent stake in ENIC, while the Lewis family trust has the remaining 70.6 per cent of the company’s share capital.
According to Bloomberg, US billionaires and private equity funds have expressed an interest in buying up Tottenham shares over the last 18 months. Investors would likely buy a smaller stake before adding to their position with the goal of taking full control.
But talks have continued to break down because of Levy’s two demands, with the 63-year-old potentially keen to negotiate a lucrative contract to oversee decisions that relate to football.
Spurs are clear that they need fresh investment to compete at the highest level, with the club appointing Rothschild to hunt for potential backers.
And although Tottenham have remained tight-lipped about any potential developments, one person familiar with the situation has told the aforementioned outlet that a future role for Levy is not fundamental to any sale discussions.
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Spurs fan group Change for Tottenham organised a “peaceful march against the board” to coincide with the Lilywhites’ Premier League encounter with Manchester United in early February. And it was recently reported that a Qatari consortium is targeting a takeover of the club.
Data firm Football Benchmark has valued the north London giants at £2.75billion, while some US sports franchises are valued at closer to £8bn.
And University of Portsmouth associate professor in sport finance Christina Philippou explained: “There are some big ticks to its name. People pay a lot for clubs that are essentially insolvent whereas Tottenham is a very healthy asset, and it’s in London.”
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Levy spoke out about the future of Tottenham in 2023 but insisted he wanted to remain at the club.
“I’ve got no real interest to leave Tottenham, but I have a duty to consider anything that anyone may want to propose. It’s not about me, it’s about what’s right for the club,” he stated.
He then added: “We run this club as if it’s a public company. If anyone wants to make a serious proposition to the board of Tottenham we would consider it, along with our advisers. And if we felt it was in the interests of the club we would be open to anything.”