Tottenham owners could agree Daniel Levy deal after takeover latest
Tottenham’s owners have been presented with multiple takeover proposals over the past few weeks.
The discussion around majority owner ENIC’s willingness to sell the club was triggered after it was confirmed Daniel Levy had left Tottenham on 4 September.
Levy spent 24 years as Spurs’ executive chairman before his departure on 4 September, with ENIC director Peter Charrington appointed non-executive chairman.
Tottenham’s owners are not currently open to a full takeover after making multiple statements insisting the club is not for sale.
Former Man City financial adviser Stefan Borson exclusively told Football Insider Tottenham could still bring in a partner to take on Levy’s shares in ENIC.
Tottenham owners ‘are not bluffing’ about their takeover stance
It was revealed last year Levy was in talks about selling a stake in Tottenham at a valuation of £3.75billion, with the club being advised by bankers from Rothschild on the sale.
However, Tottenham have now ended their relationship with Rothschild as part of their latest takeover stance.
Speaking exclusively to Football Insider, Borson said: “It increasingly looks like they’re not bluffing.
“Getting rid of Rothschild’s as your advisor is a statement that you’re not really engaging and you don’t really want to sell, which is consistent with what they’ve said publicly.
“I mean, they have been pretty blunt about that desire for certainly the Lewis family side of things to keep the asset to keep the ownership. They’re very visible now at games home and away, so I think you can start to take them on face value that they’re not really looking for a buyer.”
ENIC owns an 86.91 per cent stake in Spurs, while Levy and members of his family hold a 29.88 per cent share in the British investment company, and Joe Lewis’ family trust own the remaining 70.12 per cent.
Tottenham owners could agree Sir Jim Ratcliffe-style deal
Tottenham’s owners value the club at around £4.5bn following the latest takeover interest, but they appear to be unwilling to agree a full sale.
Borson said: “I still think that if somebody could put an offer together for Daniel Levy’s part of ENIC given that there’s clearly been a fallout there, I think that would start to make some sense, where you brought in very much like Sir Jim Ratcliffe at United, you brought in a 25 per cent shareholder.
“I mean, it wasn’t quite the same with Manchester United, but a 25 per cent shareholder comes in to partner with the majority owner. I don’t think the Lewis’s are showing that they would be prepared to take a backseat in the way that the Glazers have, and that again will go to value.
“But there may well be a minority owner that is interested in taking 25 per cent of Tottenham and going from there, maybe with a plan over the next few years to build up to 50 per cent, then 75 per cent, and then full ownership. I think that’s feasible.
“If the Lewis’s don’t want to sell, then it does look like it’s difficult for Daniel Levy and his family to remain as a relatively small minority. That does look like something that they’re going to want to work their way out of and take the money.”
Vinai Venkatesham is now leading the day-to-day operations at Tottenham after being appointed as the club’s CEO earlier this year.
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