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News
£3.75bn Tottenham takeover update amid New York Stock Exchange claim
With Tottenham on the hunt for new investment, a curious claim has emerged that would have major financial implications for the North London club.
It has been common knowledge within football finance that Daniel Levy and ENIC are
Levy himself has said as much, claiming that the fact that around 13 per cent of Spurs is owned by institutional investors means they have a fiduciary duty to explore any offers presented to them.
However, the most significant development in this regard came earlier this year, when the chairman and co-owned announced that Spurs had enlisted the Rothschild bank to search for potential investors.
Levy did not specify whether this would be in the form of a full or partial takeover but it was widely presumed that the latter is more likely.
It has subsequently been reported that a 10-15 per cent investment is in the pipeline, although a 20-25 per cent investment has also been mooted.
Significantly, Spurs value themselves as £3.75bn.
Following her Newcastle United exit, Amanda Staveley’s PCP Capital Partners have been linked with Spurs after raising £500m for a new football acquisition from various investors in the Middle East and beyond.
Tottenham on the New York Stock Exchange?
At present, Man United are the only English football club to be publicly listed.
They float on the New York Stock Exchange. Further afield, shares in the likes of Juventus and Borussia Dortmund are also publicly traded.
Recently, Crystal Palace co-owner and Everton takeover hopeful John Textor is plotting take his Eagle Football Group public, potentially on the New York Stock Exchange or the NASDAQ.
In a story examining that development, The erroneously claimed that Spurs were traded on the New York Stock Exchange.
That is not the case and TBR Football understands that is not one of the options being considered for Spurs to strengthen their capital base.
Being a publicly listed company comes with far greater reporting requirements, which would give Spurs fans a window into the club’s finances if they were every to float on the NYSE.
The PLC model was once far more prevalent in English football, and shares in Spurs themselves were available to buy on the London Stock Exchange until 2012.
Tottenham’s next investors
Previously, groups like MSP Sports Capital and Liberty Media have been linked with a full takeover of Spurs, as has the rapper-investor Jay-Z – albeit slightly more tenuously.
Given that a minority investment could set an individual or, more likely, a group of investors back as much as £750m, there is a finite pool of candidates.
What’s more, the Premier League takeover market is relatively saturated at present.
Brentford, Crystal Palace, West Ham and Wolves are all believed to be looking for minority investment, while Everton are over a year into their full takeover saga.
Meanwhile, news that the respective groups fronted by Todd Boehly and Behdad Eghbali are now vying for full control of Chelsea also adds a layer of complexity on the Spurs front.