Stefan Borson drops ‘enormous’ takeover verdict after Tottenham sale stance revealed
Tottenham investors will have to pay an “enormous amount of money” to secure a takeover deal.
Tottenham confirmed Daniel Levy has stepped down as executive chairman on 4 September after spending 24 years in the role, with his departure fueling rumours around a potential takeover deal.
Football Insider revealed on 5 September Amanda Staveley has been in talks about a Tottenham takeover.
However, Staveley’s company PCP International Finance released a statement on 8 August confirming it “does not intend to make an offer for Tottenham”.
Former Man City financial adviser Stefan Borson exclusively told Football Insider a consortium led by Triller chiefs Roger Kennedy and Wing-Fai Ng, who also made an approach for Spurs, don’t have the resources to buy the club for £3billion.
Tottenham investors flushed out after official statement
Tottenham released a statement on 7 August claiming they have “unequivocally rejected” two expressions of interest and the club is “not for sale”.
ENIC owns an 86.91 per cent stake in Spurs, with Levy and members of his family holding a 29.88 per cent share in the British investment company, and Joe Lewis’s family trust owning the remaining 70.12 per cent.
Speaking exclusively to Football Insider, Borson said: “Not for sale does not mean will not be sold, so it just depends what comes along. I think it’s interesting in terms of the ones we know about.
“Spurs have been in play to an extent in terms of proposals for at least two years. We know that because Daniel Levy said as much in his annual letter to shareholders. The starting point is who’s been through the door.
“The only two we know about are PCP and these guys from Triller. Triller is not a particularly successful listed company, and the chairman and the chief executive of that company don’t seem to have the resources to be able to buy a football club for £3bn.
“That’s an enormous amount of money, and you also need wing capital on top of that. I think it’s very unlikely that they’re credible bidders, but I think what’s interesting is that there’s nobody else that’s been mentioned.
“The takeover code process that’s flushed those two disclosures out, that’s a pretty official process. That will be everybody that’s made any sort of preliminary inquiry. There’s nobody else rumoured to be in the mix at the moment, so I think it’s pretty quiet for them.
“I also think that they’re being honest in terms of them not having a particular desire to sell right now, certainly not all of it.”
Tottenham’s owners value the club at up to £5bn after insisting they are not currently open to a full takeover.
Tottenham investors’ takeover plan revealed
Football Insider revealed on 11 September the potential Tottenham investors want to improve the club’s revenues after exploring a deal.
It is understood the commercial opportunities with the NFL games and concerts as well as the scope for further development around the club’s stadium is attracting interested parties.
Spurs are in a strong position financially after posting a turnover of £528.2million in their latest published accounts for 2023-24, with their commercial revenue standing at £255.2m.
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