Tottenham to agree takeover deal? Stefan Borson drops verdict after £5bn reveal
Tottenham have been looking to agree a takeover deal for some time as they aim to secure new investment.
Football Insider revealed on 5 June Tottenham are edging closer to agreeing a deal to sell a stake in the club, valuing them at around £5billion.
Spurs are open to investment, with Qatari investors, ex-Newcastle United chief Amanda Staveley, and US-based MSP Sports Capital among those linked with acquiring a minority stake in recent months.
The north London club have been in talks with various consortiums for more than a year and progress is believed to have been made behind the scenes in the last few weeks.
Finance expert Stefan Borson exclusively told Football Insider it would likely need to be a full takeover for a £5billion valuation to be realistic.
An independent valuation by Forbes recently valued Tottenham at £2.44billion, while Real Madrid are the most valuable club in the world at £4.98billion.
Spurs’ latest accounts for 2023-24 revealed their turnover fell from £549.6million in 2022-23 to £528.2million.
ENIC told to lower Tottenham valuation
Borson insisted Tottenham’s majority owners ENIC’s valuation doesn’t match where the market is currently at for investment.
He told Football Insider: “If they were to get a deal done at £5billion, it would establish it at the very pinnacle of football evaluations.
“I think it’s highly unlikely. It’s kind of just about believable if it were for the entire thing in that it got control, but for a minority stake, then it’s even more unlikely. I don’t believe the £5billion.
“We know that they’ve been looking for a long time for external investment or a sale. That’s been touted for literally years and admitted as much by Spurs.
“If you had to look at not their last report on their accounts, but the one before, they specifically said that they were in a process to try and find an investor or third-party buyer.
“It’s no secret that they’ve been looking, but it’s been a long time that they’ve been looking and that does suggest that their expectation of value doesn’t match where the market is.
“I don’t see that the signs are there for increased valuations above and beyond the sort of multiples that Chelsea got when that was sold.”
Tottenham could accept lucrative Son Heung-min offer
In terms of a potential exit, Football Insider revealed on 10 June Tottenham chiefs could go over new boss Thomas Frank’s head and accept a “very lucrative” bid for Son Heung-min.
The 32-year-old winger is once again a target for Saudi Pro League clubs this summer.
Sources say an executive decision could be taken by the club instead of Frank if a lucrative offer arrives for the South Korea international.
For more Tottenham and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.