Tottenham Hotspur owner Joe Lewis has put the club up for sale and he will accept nothing less than four billion pounds for the club.
Following the announcement, an American-Iranian businessman Jahm Najafi is reportedly organising a consortium to make a 3.1 billion pounds offer.
It seems likely that Spurs’ Joe Lewis and chairman Daniel Levy will be contacted formally in the coming weeks.
It is said that chairman Daniel Levy has hosted multiple possible buyers at the Tottenham Hotspur Stadium during the past few months.
But Najafi’s proposed offer is expected to fall short of what billionaire club owner Lewis has valued the team at.
Najafi is the chairman of MSP Sports Capital, which has lately expressed interest in investing in Everton. Najafi is also a minority shareholder in the NBA’s Phoenix Suns and the vice-chairman of McLaren Racing.
Najafi and MSP want to put up 70% of the funds for the bid, with additional investors, most likely from the Gulf and especially Abu Dhabi, providing the other 30%.
Spurs are an appealing option because of their central location in London and their cutting-edge stadium, which has previously hosted NFL games, significant boxing matches, and concerts by artists like Beyonce in recent years.
Even though they have a prolific striker like Harry Kane, Spurs haven’t won a title since 2008.
Spurs said last Monday that their income for the fiscal year ending in June 2022 was £444 million, an increase of £83 million from the previous year when supporters returned after the Covid epidemic.
Spurs are expected to be valued at £2.5 billion under the Najafi-led deal, with an additional $610 million in debt.
In 2000, the Bahamas-based firm paid £21.9 million to acquire 26% of the club from Lord Alan Sugar. Since then, they have increased their holdings to 85.5%.
Also, last month, Qatar Sports Investments reportedly met with Daniel Levy to discuss the possibility of buying a minority ownership in the Premier League club.
Spurs’ performance during their tenure as leaders, including their consistent appearance in the Champions League and their position as a top-four team in the Premier League, as well as the construction of a new stadium, has been well lauded.
It’s no coincidence that American investors are eyeing Tottenham at the same time they’re trying to buy Manchester United and Liverpool.
After the sale of Chelsea for £4.25bn in May to a Todd Boehly-led group, Najafi would become the latest US billionaire to join the ranks of Premier League owners if his offer scales through.
Bournemouth was also purchased by Americans last year. In addition, there are currently 10 Premier League clubs owned by Americans.
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