Tottenham takeover: Stefan Borson drops ‘enormous’ claim after talks revealed
Tottenham chairman Daniel Levy has been attempting to secure new investment in the club over the past year as they look to start competing at the top of the Premier League again.
It was widely reported last year the Spurs chief has been in talks to sell a minority stake 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 the £3.75billion valuation is not realistic after several “rumours” have emerged in recent months.
Majority owner 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 owners must spend big to secure Champions League return
Borson insisted it would be risky to agree a £3.75billion takeover deal when there is no guarantee Tottenham could secure Champions League football without “enormous” spending.
He told Football Insider: “Clearly, if they were bought by very wealthy Qataris, then it would change everything.
“But I’d be sceptical about all of those stories, to be honest. They have been rumoured for many, many months.
“The valuation that’s touted is not realistic at £3.75billion. It was on the front page of the Sunday Times business section about six months ago.
“It didn’t seem credible then and it doesn’t seem credible now, especially in a post-PSR world, where you have the emergence of Aston Villa, Newcastle, the recovery of Everton, and the growth of teams like Bournemouth, Brentford and Brighton.
“Manchester United are out of the mix, but they are obviously going to find a way to come back into the mix. It’s quite a risky thing to buy Spurs for £3.75billion if that’s what you did.
“There is no guarantee they can get in the Champions League without quite enormous spending. Of course, they have got the stadium and that’s an attractive asset, but it’s not enough.
“I would be sceptical about a value of £3.75billion on Tottenham.”
Tottenham owners 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 Tottenham’s 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 have endured a challenging season as they currently sit 15th in the Premier League table.
Football Insider revealed on 22 January Tottenham are set for a £31million hit in prize money after their disappointing campaign.
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