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Tottenham Sale



Player in Training.
No real news, but somewhere to put news if anything becomes substantial


Player in Training.

Takeover talk continues to swirl at Tottenham Hotspur with the north London club an attractive proposition for investors, especially after a strong start to the season under new manager Ange Postecoglou. Chairman Daniel Levy has now gone as far as admitting this himself.

Spurs have been the subject of speculation since the turn of the year, when reports emerged of a meeting between Levy and the president of Paris Saint-Germain, Nasser Al-Khelaifi. Al-Khelaifi is the chairman of PSG's owners, Qatar Sports Investments, which has made waves at the Parc de Princes with its 'Galactico' transfer policy having brought in Lionel Messi, Neymar and Kylian Mbappe in recent years.

MSP Sports Capital, a group chaired by the American-Iranian billionaire Jahm Najafi, has also been linked with a move for Spurs while there has even been talk of the legendary rapper Jay-Z making a bid for the club. It has also been claimed that the Qatari businessman Sheikh Jassim bin Hamad Al Thani, who wants to buy Manchester United, could turn his attention to Tottenham if he is unsuccessful in his seemingly never-ending quest to take over at Old Trafford.

Levy, who is now the most public facing member of the ownership group, has just under 30 per cent of ENIC's 86.58 per cent controlling share in the club alongside his family. Now, with Levy being extremely open about the club's future, here's the latest on an investment or potential sale of the club with previous links to owners of Formula One, Liberty Media.

Tottenham have turned down offers in the past for the club, Levy has confirmed. "Over the years many people have made offers but there's never been offer that's been..." he started when asked by Bloomberg before being cut off. He was the quizzed on where the offers have come from.

"All parts of the world, the far East, the Middle East, America. Nothing has been put on our table that we feel has been of the interest to the shareholders."

As for why nothing has materialised, the English businessman added: "Lots of reasons. For us as a board we are only custodians of this club. We want to take it to another level. We've shown progression over the last 20 years, we've made a big investment in our capital projects, in our team and if someone came along and we felt they could take us to another level we'd look at it."

"If we get the right naming rights partner — and when I say that, I mean somebody who pays the right money in the right sector — then we are willing to consider doing it," said Levy. "But we’re not as tied to doing it now as perhaps we would’ve been when we first looked at building the stadium."

Levy admission​

Levy has admitted that he would consider selling a stake in the club if the right offer came about. Speaking in an interview with Bloomberg he said: "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.

"We have 30,000 shareholders who own approximately 13.5 per cent. We run this club as if it is 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."

MSP impact​

777 Partners, an American investment firm, are now in advanced talks to take over Everton, reports suggest, after a previous deal with MSP Sports Capital collapsed.

Everton's Farhad Moshiri is set to sell the club, Bloomberg write, and the deal is now said to be at an advanced stage. New York-based MSP had been close to reaching an agreement to plunge external investment into the Toffees with £150million of funding and a further £100million towards the new stadium and other areas of the club.

READ MORE:Sheikh Jassim net worth compared to Chelsea and Arsenal owners as Man Utd transfer reality emerges

However, the Liverpool ECHO write that 'owing to objections from existing lender Rights and Media Funding Limited to various aspects of the deal' the plans were abandoned, although the loan deal is intact.

After the MSP deal ended talks were resumed with 777 Partners. They have been adding to their multi-club portfolio since being founded in 2015 with Standard Liege, Red Star FC, Hertha Berlin, Genoa, Vasco da Gama and Melbourne Victory all forming part of their football empire.

Earlier this year it was said that MSP were ready to approach Tottenham with an offer to fund 70% of a huge offer for the club and that Joe Lewis and Daniel Levy were expecting a bid at the time.

Sheikh Jassim interest​

Spurs may be an option is Sheikh Jassim, who is said to have had five bids for Manchester United up to this point, fails in his bid to take control at Old Trafford.

Suggestions have been made that United are no longer on the market with a lack of commitment leading to a sale collapsing. It is instead written that the Glazers will look to sell again in 2025 when 'environment factors' could create a bigger market for the club.

Although speculative, this does open up the chance of any prospective owners turning their attentions back to Spurs.

According to ESPN journalist Mark Ogden, Sheikh Jassim and his entourage have earmarked Spurs as a potential option.

"They want the Premier League footprint," Ogden told The United Stand. "Somebody told me recently, they said that if the Qataris don't buy Man United, they'll be back and they might end up buying Tottenham.

"He said, look, if you've got Manchester City owned by Abu Dhabi, you've got Newcastle owned by Saudi Arabia, if Qataris maybe buy Tottenham, then you've got three clubs who can pull away.

Transfer impact​

Manchester United's potential takeover will not have an impact on the transfer activity of Tottenham, the Express report. As Spurs and United prepare to compete in the market for Brighton striker Evan Ferguson, someone who is valued at a suggested £115million, the uncertainty at Old Trafford had been thought to play into Tottenham's hands.

Ferguson recently signed a new long-term deal at Brigthon but is already on the radar of some of England's biggest clubs as Tottenham look to replace Harry Kane. Spurs, who spent big in the summer window to sign Brennan Johnson and James Maddison in particular, will not have an advantage when it comes to Ferguson, though.

United themselves went big to buy Mason Mount, Andre Onana and Rasmus Hojlund, seemingly uneffected by the continued drama surrounding the Glazer family and what has been a protracted process during talks over a sale to Qatari banker Sheikh Jassim or Sir Jim Ratcliffe.

Unfortunately for Spurs ,it doesn't look like they will be able to use this to their advantage.

Not for sale​

Tottenham are not in a position to sell the club currently, football finance expert Kieran Maguire has explained. "Spurs are not officially up for sale but in the world of football finance, never say never," he told Football Insider last month.

It comes after ENIC Group owner Joe Lewis, who's family trust has the majority share in Tottenham, was indicted over his alleged role in 'brazen insider trading schemes' in America.

Lewis pleaded not guilty to 19 counts of insider trading and conspiracy in July 2023 and is set to be back in court next year. The ownership of ENIC was passed to the Lewis Family Discretionary Trust last year and Lewis himself is not a beneficiary.

Tottenham have said that that the indictement is a 'legal matter unconnected with the club.'

Jay-Z 'preparing bid' for Spurs​

Shock claims have emerged regarding a potential bid for Spurs by the rapper Jay-Z. The New York native, famous for his hits including 'H to the Izzo' and '99 Problems' is backed by US investors, according to the Express.

Jay-Z, who himself has a net worth of around £2billion, has dabbled in sports having previously held a share in the Brooklyn Nets basketball team while his Roc Nation empire had Manchester United star Marcus Rashford on its books. It is being claimed Jay-Z and his group are waiting to see the outcome of Joe Lewis' insider trading allegations with the 86 year-old denying the charges put to him in court.

Lewis controls ENIC, which controls Spurs, but as Companies House documents showed in October last year is no longer a 'person with significant control' of Tottenham Hotspur Limited.

Levy contact​

Levy and Al-Khelaifi are said to have a close relationship since QSI's interest in buying Spurs emerged with contact reportedly being maintained amid links between Harry Kane and PSG. Sparked by talk of a potential deal to bring Kylian Mbappe to north London, which has been quickly rebuffed, Spurs could soon see PSG handed a huge cash sum with the sale of their prize asset.

Levy and Al-Khelaifi are said to have 'regular exchanges', according to L'Equipe, with the potential for a takeover to develop if PSG are sold with The Telegraph reporting that Spurs have a £3.5 billion price tag after an approach to the club in September 2021.

F1 owner hint​

Greg Maffei, CEO of Formula One owners Liberty Media, has hinted that his next sporting venture could be in the Premier League. The American-based mass media company also owns the Atlanta Braves Major League Baseball team.

Speaking on the Walker Webcast, he said: "You mention the Premier League teams; there isn't an asset we haven't looked at. "That doesn't mean we've been ready to buy them all but we look at everything because we do think sports in general is attractive, we do think there are upsides and do think those things that management teams have taught up can help apply perhaps in other sports situations."

The Telegraph reported on Wednesday that Liberty Media have been 'mooted by one insider' as a potential option but they would not comment on reports.

MSP interest​

The Financial Times claimed back in February that MSP Sports Capital chief Jahm Najafi was 'set to launch' a $3.75 billion (£3bn) bid for Spurs. With Najafi chairing MSP Sports Capital, he would lead an approach for the club but a consortium made up of other investors would also provide funding.

It was also reported that the other investors would be from the Middle East with MSP contributing 70% of the funds for the takeover. The Telegraph reported on Wednesday that Najafi, who now looks set to move for Everton, 'was expected to table a total buyout offer'

Levy's stance​

Levy recently broke his silence on a potential takeover during a talk at the Cambridge Union in April. "ENIC owns approximately 87% of the club and we have 30,000 shareholders and most of them are fans who own the shares," he said.

"We have a duty to consider any proposal anyone wants to make. "All I would say is we are not in negotiations with anybody, nor have we been in recent months."


Player in Training.

"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." Daniel Levy was not shying away from tough questions when he was asked last month about what the future holds for him.

It has been a remarkable 12 months for the Spurs chairman with both on-field and off-field clouds hanging over the club before Ange Postecoglou's side stunned many to race to the top of the Premier League table. Issues beneath the surface remain for Levy though and he now faces a new challenge.

With Manchester United themselves set to get added investment from fellow British businessman, Sir Jim Ratcliffe, there is a fresh unknown aspect about what is to come. United have been one of the most inefficient teams of the past decade, a far cry from Tottenham who operate on a similar and competitive level with the Red Devils despite a fraction of the budget.

Spurs' operating income, for example, is nearly 50 per cent than United's despite drawing in over £150million less total revenue per annum. Before the collapse under Jose Mourinho and Antonio Conte - a large shadow that will continue to follow Levy despite the early success of Postecoglou - Tottenham were getting significantly more bang for their buck than a wasteful United side.

Under Mauricio Pochettino Spurs became one of the best sides in the country and did it by hardly spending a dime, let alone over £1billion ($1.2bn) on new players like the Glazer family. The challenge for Tottenham is now to go one step further as they compete with the global might of United.

According to Forbes, it is only Real Madrid that are worth more than the Red Devils. They are said to have a current value of £4.93m ($6bn) but that is much lower than the price demanded by the Glazers as well as what Ratcliffe could end up paying.

The Ineos owner is set to purchase a 25 per cent stake for around £1.5billion ($1.8bn),Ben Jacobs writes, which comes to a total valuation of £6billion ($7.3bn). This still falls below the £8billion ($9.74bn) reported desire of the Glazers throughout this protracted investment process.

It does, importantly, come at a larger price than Qatari banker Sheikh Jassim and his group were prepared to pay. That is partially down to the 25 per cent stake meaning a smaller initial investment compared to one large cash sum.

So just how much are Tottenham reportedly worth? Forbes have them in at ninth in the table, one place behind Chelsea but ahead of fierce north London rivals Arsenal. The total figure is £2.3billion ($2.8bn),a 19% rise compared to last year, still some way behind Chelsea but also some way in front of the Gunners.

More drastically, this figure is less than half of the United valuation and already £1.6billion ($2bn) from sixth place Bayern Munich. What the list represents is just how big the numbers get towards the top level and the European super clubs.

The breakdown of this valuation comes with £496million ($604m) in matchday income for Tottenham, who have the second largest stadium in the league behind only Old Trafford, as well as £721million ($879m) from broadcast revenue. Manchester United, who are one of the biggest tourist attractions in sport, have a matchday reported value of £811million ($988m) and a broadcasting total over £1.56billion ($1.9bn),partially due to being in the Champions League.

Commercial values come in at £711.2million ($866m) for Spurs and a giant £1.6billion ($2bn) for United despite not hosting the same level of events at their stadium as well as over £410million ($500m) difference in the brand value.

What is interesting is that United could end up receiving around 21% more than Forbes suggests they are worth. With United struggling both on and off the field with the atmosphere at the club heading towards a new low under the Glazers, this represents the scale of the task for Tottenham but also a point of positivity for Levy.

His side are making giant strides towards rivalling those at the top of the money list even with fewer resources and with a newfound elegance to their game it is not out of the equation that a future offer is made for the club. "We run this club as if it’s a public company," he explained in September.

"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." It's tough to know in the world of football and finances what a realistic sale price would be for Tottenham but if we take the 20 per cent higher than Forbes way of working it could come in at £2.76billion ($3.36bn).

Considering Tottenham were purchased for a reported £21.9 million ($26m) by Enic Group in 2001 - Levy and his family controlling nearly 30 per cent of the company - the rise since then is nothing short of staggering. Who knows, there's a disappointed and Manchester United-less Sheikh Jassim out there somewhere.