Tottenham news: Spurs are ‘up for sale’ and this is when ENIC will be gone – Finance guru
ENIC could choose to gradually disinvest in Tottenham rather than sell outright.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the group’s exit strategy in North London.
Joe Lewis and Daniel Levy, through their investment vehicle ENIC, first bought a controlling stake in Spurs at the turn of the new millennium.
But a Tottenham source reportedly told The Athletic last Friday (4 February) that the club is “100 per cent for sale”.
However, it is claimed that Lewis and Levy are in no rush to cash out.
And Plumley suggests that a gradual transition of power to a new regime might be the way forward.
“They have always been up for sale,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“But there is only a select group of people who are in the market for a £2billion purchase.
“The other side of it is that you might see a gradual disinvestment of the main investors.
“It might not be a full sale outright but they might look to reduce their shareholdings over the course of a few years.
“They have turned Spurs into an organisation that makes a profit more often than not. So it’s just a case of when they choose to step aside.
“But when they do, it will be at a much higher valuation than when they joined the club.
“It’s just a case of striking the right deal with the right person. But it is a very select club in terms of potential investors.”
Plumley told this site earlier today that Spurs would be valued at around the £2bn mark in the event of a full takeover.
Any new financier would have also have to take on the £706million worth of debt from the construction costs of the new stadium.
In other news, insider suggest Tottenham could make “strange request” to the FA after weekend development.