Stefan Borson drops Daniel Levy exit claim after Tottenham takeover twist
Tottenham fans have vented their frustrations against chairman Daniel Levy and ENIC recently following the club’s on-field struggles.
More than 1,000 supporters protested against Spurs’ ownership before the 1-0 victory over Manchester United on Sunday (16 February), with some fans also remaining inside the stadium after the game to show their displeasure.
It was widely reported last year Levy has been in talks to sell a minority stake in the club at a £3.75billion valuation.
The Guardian reported on 12 February Qatari investors want to take control of the north London giants, but the proposed takeover could take the form of a phased buyout.
The newspaper claims Levy would be offered a management contract to run the club under one model being considered by the Middle Eastern consortium.
Finance expert Stefan Borson exclusively told Football Insider he doesn’t believe any new investor would be keen to retain Levy’s services if they were to complete a takeover deal.
ENIC increased its shares in Tottenham from 86.58 per cent to 86.91 per cent following a £35million injection in December.
Levy and members of his family own a 29.88 per cent stake in the British investment company, with Joe Lewis’s family holding the remaining 70.12 per cent.
Tottenham owner would need £100bn to agree takeover deal
Borson insisted it would change Levy’s outlook if a Tottenham takeover deal were to be agreed.
He told Football Insider: “I would be sceptical that a new owner would want to keep Daniel Levy around.
“I suspect they would see a relatively short handover period into a new management team, which would be put in place by the new ownership.
“At £3.75billion, Daniel Levy would walk away with hundreds of millions of pounds. I think the idea that wouldn’t change his outlook is unlikely.
“He would also be spending somebody else’s money and I don’t think that would necessarily be the approach that a new owner would want, but it’s complete speculation.
“I don’t really think much of the story, to be honest. I think we’ve got to see far more evidence of a deal even being touted. We don’t even have a name of anybody that’s said to be thinking about it.
“Remember, if you’re buying a football club for £3.75billion, this would have to be at most a 20th of your net assets. You are talking about somebody that’s got net assets maybe of the best part of £100billion.
“It might be a consortium, but they are saying in that article it’s not state-related. Which consortium has got maybe a net wealth of £100billion that they can afford to spend the best part of £4billion on Tottenham? It’s pretty unlikely.”
Tottenham set for takeover blow after £3bn reveal
Football Insider revealed on 13 February Tottenham’s takeover would be worth less than £3billion after they have so far failed to agree a deal at the reported valuation.
Deloitte’s 2025 Money League revealed Spurs’ overall revenue fell from £550million in 2022-23 to £528million last season.
However, their commercial income increased from £228million to £255million as they continue to cash in on opportunities at their new stadium.
Ange Postecoglou’s side moved up to 12th in the Premier League table following their victory over Man United.
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