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Tottenham are reportedly negotiating to sell a minority stake in a deal that could value the club at an impressive $4.8 billion.
This move is part of a strategic effort by Chairman Daniel Levy and the club’s majority owners, ENIC Group (ENIC). They want to attract fresh investment for various ambitious projects and bolster their financial standing.
The Times says Daniel Levy is looking for an investment that values the club between $4.5 billion and $4.8 billion, including debt.
The primary motivation behind this move is to raise capital for new player acquisitions. They also aim to develop the women’s team academy further and construct a 30-storey hotel adjacent to the Tottenham Hotspur Stadium.
ENIC, which controls 86.6% of Tottenham, is not seeking a full takeover. Instead, the plan is to sell around 10% of the club. Rothschild bankers advise the club, but the details of the agreement are still up in the air.
Among the interested parties is Amanda Staveley, known for her involvement in the Saudi Arabia-led takeover of Newcastle. Staveley’s fund, PCP Capital Partners, has raised approximately $642 million for club deals over the years.
Additionally, American investors have shown interest in purchasing a stake in Tottenham.
Potential changes in ownership structure
The deal to sell a minority stake could pave the way for Joe Lewis and his family to sever their ties with the club.
Lewis acquired a controlling stake in Tottenham from Lord (Alan) Sugar in 2001 but relinquished his controlling position in October 2022, transferring his 70.1% stake to Enic amid an investigation for insider trading in the United States.
Daniel Levy, who is leading the search for new investors, owns the remaining 29.9% of Enic.
Tottenham also has around 30,000 smaller shareholders, including Goldman Sachs banker Michael Sherwood. The new investment would support the club’s development projects and could enhance its competitive edge in the…
Source link : https://worldsoccertalk.com/news/spurs-to-sell-shares-for-big-money-valuation-close-to-chelseas/
Author : Martina Alcheva
Publish date : 2024-07-28 18:09:34
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