Tottenham takeover update as Enic stance on sale and multi-billion pound valuation emerges
Tottenham Hotspur chairman Daniel Levy is searching for new investment with the club now in talks over selling a 10 per cent stake
Tottenham Hotspur are in talks to sell a significant stake (Image: Getty Images)
Tottenham are reportedly in talks to sell a minority stake in a deal that could take the club value to £3.75billion.
According to The Times, Daniel Levy is looking for investment that values the club between £3.5bn and £3.75bn, including debt. Spurs want to raise fresh capital fresh capital for new player transfers and to help fund the development of an academy for its women’s team, plus a 30-storey hotel next to the Tottenham Hotspur Stadium.
The report adds Tottenham owners Enic are in negotiations over selling a stake of the club – rather than a full takeover. Although the terms of any deal has not been agreed or finalised, it’s understood Spurs are looking to sell about 10 per cent. The Times adds that the club is being monitored and advised by bankers from Rothschild.
Amanda Staveley, who was part of the Saudi Arabia-led takeover of Newcastle United, is said to be among the parties to have expressed an interest in Tottenham – just weeks after selling their shares in the Magpies. Staveley’s fund, PCP Capital Partners, has raised about £500million to deploy on football club deals over the years. Meanwhile, the club is also likely to attract interest from American investors.
The deal for Spurs to sell a stake could pave the way for Joe Lewis and his family to sever ties with the club. Lewis, who bought a controlling stake in Tottenham from Lord (Alan) Sugar in 2001, relinquished his position as Tottenham’s controlling shareholder when investigated for insider trader in the United States.
Tottenham are controlled by Enic, who are an investment company which owns 86.6 per cent of the club. Lewis gave his 70.1 per cent stake over to Enic in October 2022, with Levy, who is leading the search for a new investor owning the remaining 29.9 per cent. Spurs also has 30,000 smaller shareholders, which includes Goldman Sachs banker Michael Sherwood.
If the valuation increases to £3.75bn, that would still rank Tottenham below Chelsea, who was bought for £4.25bn by a consortium led by Todd Boehly back in 2022. Meanwhile, Sir Jim Ratcliffe secured a 25 per cent stake in Manchester United for £1bn earlier this year.
