New Tottenham investors face 'hostile' environment after new 'fallout'
Tottenham Hotspur's ownership has created a "hostile" environment for any potential new big-money investors.
That is according to former Manchester City financial adviser Stefan Borson, who exclusively told Football Insider that replacing Daniel Levy will be anything but simple.
It was revealed that Eight Sports Capital, a consortium, would take out a £750million loan to purchase the former chairman's 24.99 per cent stake at Hotspur Way.
That now appears to have fallen through, with the expectation that billionaire businessman Richard Tsai, a member of Eight Sports, could finance the deal with his own capital.
To the supporters, of course, this would be an eye-watering amount of money, but Borson is not certain that Tsai can afford to complete the purchase.
As time passes, the ownership situation is becoming increasingly confusing, especially for those not behind the scenes.
Tottenham investors are entering a 'hostile' situation
Speaking exclusively to Football Insider, Borson believes that Tsai's net worth of £7.6billion is not nearly enough to finance a deal right now.
"It might be quite difficult for somebody that's prepared to put up £750m very quickly," he explained.
"It's not that straightforward to raise £750m even where you're agreeing a 10 per cent coupon interest rate for the purchase of football shares.
"From a financial perspective, the whole deal is slightly unusual because you're talking about buying a minority with very little power here.
"It's a slightly hostile situation, in fact, to come into if you're a buyer because there's been this kind of fallout between the two blocks of shares.
"A buyer would be coming in with, as we understand it, no rights even to be on the board and so, you just end up being a silent partner, being gradually whittled down in terms of the equity.
"It's a huge amount of money. You'd have to be somebody worth $20bn (£14.8bn)-$25bn (£18.7bn), or even more."
Why the Lewis Family have risked a lot in 2026-27
Supporters have been desperate to see the back of Levy, but the situation remains unclear, even with the 2026-27 campaign kicking off.
There is now another layer of risk attached to the season, with the Lewis Family really putting their money where their mouth is in the transfer market.
Roberto De Zerbi has added multiple big-money stars to the squad, and as Borson has explained, Champions League football is now vital.
With the amount spent on transfers, and wages still to come, Spurs could instantly be facing financial trouble without Champions League qualification.