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Door opens for Amanda Staveley to take over Tottenham as paperwork filed
Tottenham are officially seeking investment – and the door could be open for ex-Newcastle United director Amanda Staveley to buy into the club.
Spurs chairman and co-owner Daniel Levy revealed in April that had engaged the Rothschild bank to help smoke out potential new investors in the club.
A number of groups have been linked with a Spurs takeover in recent months, although it is not yet clear what the structure of a deal might look like.
Liverpool University football finance lecturer and Price of Football author Kieran Maguire has exclusively told TBR that both a full and partial takeover of Spurs are likely on the table.
Either a minority or majority deal could theoretically see Levy remain in-situ in a similar arrangement to Sir Jim Ratcliffe’s investment in Man United.
However, the latest financier linked with an equity investment would likely not be content as a silent partner in North London.
Staveley was the public face of Newcastle during her time at the club, which began after she took a small stake for helping to broker the Saudi Public Investment Fund’s deal with Mike Ashley.
But it emerged last week that she, along with her husband and fellow PCP Capital Partners powerbroker Mehrdad Ghodoussi, would leave the club after almost three years in the directors box.
Now, the latest developments mean that there is now nothing stopping them from pursuing Spurs.
Amanda Staveley’s Newcastle exit officially confirmed, paving way for Spurs investment
It was reported last week that Staveley’s PCP Capital Partners had raised £500m and were considering reinvesting in football.
Spurs are said to be one of the clubs that has been explored as a possible option, although PCP’s interest is not believed to have extended to anything formal at this stage.
Staveley’s departure was announced by Newcastle on 12 July but, at that stage, was not officially confirmed.
Premier League conflict of interest rules stipulate that no investor or director can have a material influence on more than one club.
Now, a filing on Tuesday 22 July shows that Staveley’s appointment has been officially terminated.
That would allow her and Ghodoussi to enter talks with Levy and ENIC, if indeed that is the direction of travel.
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TBR Analysis: Will Daniel Levy sanction a full Spurs takeover?
Given that Staveley has raised £500m, her group would be unable to afford a full Spurs takeover – or in fact anywhere close to one.
Based on revenue multiplication and industry benchmarks, the club’s enterprise value is likely £2-3bn. And an incoming investor might pay a premium on top of that.
Levy was deliberately vague in his language when, in the preamble to Spurs’ 2022-23 accounts, he announced that he was courting new investors.
Of the groups linked with an investment, both full and partial takeovers have been mooted.
MSP Sports Capital conducted due diligence on a majority acquisition of the club last year, although they later pivoted to an attempt to buy Everton.
The motorsport investment group Liberty Media, one of the most valuable sports groups in the world, have also been linked with a deal.
More loosely, Paris Saint-Germain owners Qatar Sports Investment were reported to have been in talks with Levy, although the veracity of those claims have been disputed.