Tottenham’s owners believe club is ‘undervalued’ after rejecting £4.5bn offer
Tottenham and Man United’s owners may be looking for as much as £10billion to sell their clubs.
That is according to football finance expert Dan Plumley, who told Football Insider exclusively that Spurs’ stadium redevelopment lends itself to the club’s valuation rising steeply in the coming years.
Tottenham rejected a £4.5bn offer from American investor Brooklyn Earlick on 26 September after having made a statement in the summer affirming the club was not for sale.
The uncertainty surrounding the North London side stems from Daniel Levy’s exit, coupled with investors like Andrew Ashcroft increasing their shareholding in Tottenham.
However, the issue of a takeover may have less to do with the Lewis family wanting to keep hold of the club from a sporting point of view and more to do with the figures involved.
Elite English clubs may be significantly undervalued
Speaking to Football Insider exclusively, Plumley explained that the decision to reject the offer from Earlick may be because the club’s owners are holding out for double the price he offered.
The senior lecturer at Sheffield Hallam University cited the Glazers wanting £10bn for the full sale of Man United in 2023.
Plumley said: “What we’re seeing here with Spurs is similar to Man United.
“Last summer, when people were talking about a full acquisition from Qatar, and the price was £5bn, or whatever we were landing on, there were strong rumours in the media that the Glazers have always seen £10bn as an exit strategy, as an example, because their perception is United is still undervalued.
“There is some truth in that for English football clubs. If they really start to drive revenues into different territories, and start to get their stadium operations right, as Spurs obviously are doing with all the other stuff that’s happened on.
“There is a potential whereby English football clubs’ valuations at that super elite level are arguably a little bit low.”
Tottenham owners may be open to investment from NFL franchise owner
On 26 September, sources revealed to Football Insider that Tottenham’s owners may be tempted to allow an NFL franchise owner to invest in the club.
Whilst Spurs have been unequivocal in their stance on a new owner, they may allow an investor to buy a sizeable stake.
Tottenham‘s stadium is one of several European destinations that will host NFL games this year, and when building their new home, an American Football pitch was added as priority.