There has been plenty of speculation over a potential takeover bid for Tottenham over the last couple of years, with The Telegraph even stating last month that Spurs are attracting quite a bit of interest from American investors.

Daniel Levy confirmed in an interview with Bloomberg recently that while he is not officially looking to sell the club, he has a duty to the shareholders to asses any offers that come his way.

The Times claimed last week that Levy and ENIC are expected to demand £4 billion to part ways with the North London club.

It has even been suggested by some sources recently that Sheikh Jassim could turn his attention to Tottenham after his failed approach to buy Man Utd (Mirror).

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Do Spurs need new owners to compete at the top?

Hutton praised the work that Levy had done at the helm at Spurs but insisted that now might be the right time for the club to go into new hands.

When asked about a potential multi-billion takeover of the Lilywhites, the former Tottenham right-back told Football Insider: “When it comes to Tottenham and Daniel Levy, the owners have been there such a long time, would there come a point where they think about selling up?

“Probably. The owners have done excellently since they have been at the club, you look at the work Levy has done, it’s amazing.

“Talking about trophies and stuff it could be better. Is the next level for them a move like this? Possibly, to then really go and try to make this squad even better than it already is.

“It will be an interesting one. I think Daniel Levy and Joe Lewis would listen to all sorts of offers and then consider them, especially if it meets their huge asking price.”

Spurs Web Opinion

The growth of the Premier League is nowhere near saturation point at the moment and there is still plenty of scope for the competition to grow, particularly across the United States and Asia.

So, the value of Spurs and other top-flight English sides is only likely to go up over the next few years. So, unless there is an eye-watering offer, Levy and ENIC would not be in any hurry to sell the club.

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To many, Tottenham Hotspur would appear to be the last remaining Big Six club to not have had a takeover in the modern era of the Premier League.

The ENIC group took over Spurs in 2001, with Daniel Levy being appointed chairman shortly after. That ownership structure still remains in place over 20 years later.

Tottenham fans aren’t exactly happy about that situation, either. The supporters have made their protests heard in the last couple of years after disastrous managerial appointments, poor performances, and inconsistent investments in the playing squad.

It’s no surprise then, that Tottenham has been mooted as a club in line for a big-money takeover. The Times confirmed last month that discussions had been held between Levy and the QSI group in January, but had come to nothing.

(Photo by OLI SCARFF/AFP via Getty Images)

Will Sheikh Jassim pursue a Spurs takeover?

Now, according to a report in the Mirror, Sheikh Jassim could be the next Middle East investor to look at Tottenham Hotspur.

Jassim has long pursued a stake in Manchester United, but has now “withdrawn from the race” for the Red Devils ownership. It is said he might now “reinvigorate” his interest in Tottenham instead.

There is a belief that Jassim is still keen to invest in a Premier League club, and his connection to Nasser Al-Khelaifi could lead him to Tottenham’s door. Al-Khelaifi is at the forefront of the QSI group and was involved in the discussions with Levy at the start of this year.

Spurs Web Opinion

I remain adamant that I don’t want Spurs to be bought by a Middle Eastern investor.

Yes, it seems to bring success, but it also brings criticism, moral issues, and in the case of Manchester City, for example, alleged fraudulent activity. Our club is already messy as it is, we don’t need more trouble, we just need stability.

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It was revealed during the summer that Joe Lewis, who founded the ENIC group which controls the majority share of Tottenham Hotspur football club, had been indicted for insider share dealing and conspiracy. Lewis reportedly handed himself in to New York authorities at the time (Bloomberg).

After the Lewis Family Trust was restructured in October of last year, Lewis gave up his share in the ENIC group, and as such, this legal matter will not directly affect the club (Telegraph).

At the time, a spokesperson for Tottenham even insisted there would be no comment as the legal matter was entirely ‘unconnected’ to the football club (Sky News).

According to a report from the Daily Mail revealed Lewis had been indicted on ’16 counts’ of insider trading, but Lewis’ lawyers believed the case was based on an ‘egregious error.’

Joe Lewis (right) (Photo by Gary W. Green/Orlando Sentinel/Tribune News Service via Getty Images)

Joe Lewis trial to continue next year

Now, the latest update on the situation comes from The Athletic, with news that Lewis’ next court hearing will not be happening until early 2024.

The report describes how Lewis is accused of “orchestrating a brazen insider trading scheme,” including the sharing of “non-public information [with] his girlfriend and two private pilots.”

The case has “lagged” since July after it was revealed that another of Lewis’ businesses, Tavistock Financial LLC, had covered legal fees for the two pilots in question.

The pair are employed by Tavistock Aviation, which presents a potential “conflict of interest” and, although both pilots had been paying for their own legal fees, those have now been reimbursed by Tavistock Financial.

Apparently, federal prosecutors have roughly a month to “conclude discovery” and gather their evidence, before the next “status conference” on January 10. This is the earliest date Lewis may reappear in court.

Lewis is accused of “market manipulation” and “misleading filings” between 2013 and 2021. It is suggested the activity allowed Lewis and those around him to “collectively make millions of dollars.”

Spurs Web Opinion

This does not sound good for Joe Lewis at all, and it is hoped none of this ends up having an effect on Daniel Levy or any other facet of the club. Thankfully, it would appear to be entirely disconnected from anything to do with Spurs.

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After serving as the club’s chairman since 2001, Daniel Levy has now held his post longer than any other director in the Premier League. His last few years at the club, however, have been far from positive.

Managerial mistakes and inadequate performances on the field had led to unrest among the supporters, which came to a head during last season’s disastrous campaign.

The ship appears to be steadying to a degree now, particularly since the appointment of Ange Postecoglou has seen performances improve.

Throughout last season, there was ongoing talk of a potential takeover at Tottenham Hotspur, with reported interest from the Middle East. Of particular note were links to Nasser Al-Khelaifi, the president of Paris Saint-Germain and chairman of Qatar Sports Investments.

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Daniel Levy values Spurs at £4 billion

Talks of a takeover have gone quiet, but Daniel Levy has now touched on the matter again, and The Times have even revealed his valuation of the club.

In a report from The Times, Levy is thought to value Spurs at around £4 billion. In terms of shares, the ENIC group owns 86.58% of Tottenham Hotspur, while Daniel Levy owns a 29.88% share in ENIC, and it is suggested he would be willing to sell up to 25% of that share in the club.

As we covered earlier this week, Levy recently spoke about any potential offer for Tottenham: “I’ve got no real interest to leave Tottenham, but I have a duty to consider anything that anyone may want to propose. It’s not about me, it’s about what’s right for the club.

“We run this club as if it’s a public company. If anyone wants to make a serious proposition to the board of Tottenham we would consider it, along with our advisers, and if we felt it was in the interests of the club we would be open to anything.”

Spurs Web Opinion

I really can’t hazard a guess as to how long Daniel Levy and the ENIC group will be around Tottenham Hotspur. Levy appears to be in no rush to move on, and he has pretty much weathered the storm of last season and come out the other side smiling, so he could stick around a while longer.

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The report discusses the increasing number of US investors in the English top-flight in light of 777’s takeover of Everton, stating that investment from across the pond is expected to continue to flow into the Premier League.

DOHA, QATAR – DECEMBER 03: US Soccer officlal badge prior to the FIFA World Cup Qatar 2022 Round of 16 match between Netherlands and USA at Khalifa International Stadium on December 03, 2022 in Doha, Qatar. (Photo by Visionhaus/Getty Images)

Tottenham are named one of the most lucrative clubs for those who are trying to get a piece of the pie in the most-watched football league in the world.

In fact, the report quotes one banker, who recently offered funds for a consortium bidding for Manchester United, as saying: “Tottenham are always of interest if someone can finally get Daniel Levy down on price.”

Meanwhile, another top lender is alleged to have said about the Lilywhites: “Spurs are of five easy sales here”.

The market for Tottenham has cooled for now

However, The Telegraph add that following the frenzy of bidding for Chelsea, the market has cooled slightly for the moment.

The report also goes on to highlight some concerns in England about an increasing number of Premier League clubs being American-owned, given that it was US-based owners who were the main conspirators behind the defunct European Super League plot.

The publication suggests that the potential of a 39th game being played in the US is an increasingly more likely possibility as a result of the aforementioned changes.

Phil Murphy, the Democratic Governor of New Jersey, is quoted as saying back in July about the possibility of bringing the Premier League stateside: “I can say, unequivocally, we would die to have a real competitive game anywhere in America.”

Spurs Web Opinion

This reported boom in the amount of American investment into the Premier League is exactly why ENIC and Daniel Levy will not be in a hurry to sell Spurs.

The game appears to be on the verge of a sea change, which is why they might believe that the value of the club is going to increase exponentially if they hold out for a few more years.

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Prior to investment group ENIC’s takeover in 2001 (Guardian), Tottenham had won the most FA Cups in the competition’s prestigious history, something to be genuinely proud of.

Spurs waved the flag for success in cup competitions, with trophies coming both domestically and in Europe, as they were the first English side to win a European competition (The Sportsman).

Regrettably, Spurs have barely been able to live up to that legacy of being a great cup team during the Daniel Levy era of Tottenham Hotspur.

In 2001, Lord Alan Sugar sold Spurs for £22 million to ENIC. Daniel Levy was then appointed to the board and is currently the longest-serving chairman of any Premier League club (ECA).

Levy sought to usher in a new era for Tottenham, immediately setting his long-term plans in motion to see Tottenham not only grow as a club on the pitch but as an institution of it too.

Under Levy’s leadership, Spurs have constructed a state-of-the-art training facility, as well as an immaculate, billion-pound stadium that consistently wins awards for its environmental friendliness, functionality, and ingenuity (RIBA). Levy played a massive role in both development projects.

Despite raising Tottenham’s valuation from £22 million in 2001 to over £2.7 billion in 2023 (Statista) and finding themselves ranked 9th among the most valuable clubs in the world (Forbes), Levy has had his fair share of criticism over the years, mostly towards football-related activity.

Off the pitch, Spurs fans can see that Levy has done a stellar job in his regeneration of North London while also taking Spurs from a consistently lower or mid-table club to one that now challenges Europe’s elite competitions, even being 90 minutes away from winning the most prestigious club trophy in the world, the Champions League [BBC].

SOUTHAMPTON, ENGLAND – JANUARY 25: Tottenham Hotspur Chairman Daniel Levy during the FA Cup Fourth Round match between Southampton and Tottenham Hotspur at St. Mary’s Stadium on January 25, 2020 in Southampton, England. (Photo by Robin Jones/Getty Images)

Has Levy taken the club as far as he possibly can?

I’m going to highlight some of his biggest mistakes and some of his biggest successes to determine whether Daniel Levy is deserving of our love and respect.

Hugo Lloris in his shot-stopping prime, Rose and Walker bombing up the wings, Jan and Toby the Belgian walls, Wanyama the rock, Dembele the ballerina built like a tank, Eriksen pulling the strings, Dele with his youthful exuberance, Sonny finding fiery consistency, Harry Kane the talisman, and Mauricio Pochettino at his charismatic best This was Tottenham from 2016–2018, as you remember it.

Fresh off of finishing second in the league, Tottenham then became the first English club to not make a single transfer in the following summer transfer window, choosing to rely on the players that were currently at the club, something that the English game had never seen before. [Evening Standard]

Spurs even started the 2018-19 campaign strongly, thrashing Jose Mourinho’s Manchester United 3-0, with many pundits alluding to Tottenham’s strong squad unity and growing resilience as reasons for their ongoing successes (Sky Sports).

However, as the season raged on, Spurs began to run out of steam and were desperately in need of fresh blood in the January window to renew their title charge. Alas, no signings came again.

Daniel Levy failed to back Pochettino with quality signings to further his philosophy for two transfer windows in a row, leading to the stagnation of the squad and eventually a notable decline.

Looking back on Pochettino’s sacking in 2019, he himself alluded to the need for a painful rebuild, something many Spurs fans could see even then (Evening Standard).

Many fans will point to the prime example of Arsenal and how Spurs should have conducted their business after finishing second. Mikel Arteta’s side had just come off an exhausting race with merciless Manchester City and ultimately finished in second place.

Choosing not to rest on their laurels, Arteta is immediately backed with three strong signings (with potentially more to come), with one of them being the £105 million acquisition of West Ham captain and England starlet Declan Rice, (BBC) a marquee signing for Arteta to build his team around, something that Spurs fans will argue that Levy should have done in 2018.

Pivoting to my personal biggest gripe with Levy, I detest his involvement in the infamous European Super League. The ESL was shockingly introduced to the world on October 15, 2021, and saw ruthless backlash and condemnation from fans globally.

UEFA are no angels themselves, and they cannot be seen as the “good guys” in this ordeal; however, the ESL epitomised pure greed, and Daniel Levy had Tottenham involved by being part of the 12 founding teams (Super League).

There are a few ways to look at the Super League and Spurs’ involvement: should Levy have been commended for building Tottenham’s stature to such a level that they were even in that conversation?

Or should he have opted out of the operation, siding with the fans’ demands that we would be better off with the tried-and-tested English pyramid system? Was it worth betraying our core values for new and greater financial avenues?

The fans spoke out and backed Levy into a corner to pull out of the Super League fiasco despite economic incentives to be part of it. Spurs weren’t the only ones to face backlash either, with every ‘Big 6’ English club coming to their senses and exiting it (Reuters).

What followed was a statement from Levy in which he claimed he was trying to support the wider football pyramid “We felt it was important that our club participate in the development of a possible new structure that sought to better ensure financial fair play and financial sustainability while delivering significantly increased support for the wider football pyramid,” (Tottenham Hotspur).

Daniel Levy’s tenure has not been perfect; however, there are credible and tangible reasons why Spurs haven’t been successful. Tottenham have faced unprecedented and fierce competition from state-funded clubs such as the arrival of Roman Abramovic to Chelsea in 2003 (The Guardian) and the much-maligned takeover of Manchester City by Sheikh Mansour and the UAE in 2008 (The Guardian), two clubs that have had seemingly infinite resources and finances pumped into them in order to win every trophy available.

Historical giants Manchester United, Arsenal, and Liverpool were always going to be threats, as they’re massive institutions that hold fan bases globally and see league-leading revenues come in from that.

Yes, Spurs have had ample opportunities to win trophies, such as the heartbreaking handball in Madrid, Leicester’s runaway 5000-1 fairytale, league cup final defeats, and more.

However, Daniel Levy has masterminded the club’s rise from mid-table mediocrity in the 1990s and 2000s to financial flourishment in the higher echelons of the Premier League today.

He’s had his fair share of luck, with the appointment of Martin Jol, bringing champagne football back to the lane, and restoring the club’s ‘To Dare is to Do’ insignia, which Harry Redknapp furthered.

Catching lightning in a bottle with Gareth Bale, seeing him develop into a global superstar, and the inspired appointment of Mauricio Pochettino. All this, among other smaller things, accelerated Tottenham’s progress as a football club, perhaps faster than Levy was prepared for.

The ill-timed stadium move after we spent the 2015-16 campaign unbeaten at home and failing to reinforce the squad at all during the two transfer window droughts are perfect examples of Levy not being ready to facilitate the great football team we had on the pitch.

Has Daniel Levy hit his ceiling in 2023 with just how far he can take Tottenham?

Countless times, we’ve been just 90 minutes away from winning trophies. Levy has built a world-class stadium and training facility to match the club’s growing ambitions, including new partnerships such as the first of its kind with Formula 1, (Formula 1) and since 2020 he’s invested over £440 million into our first team.

Ultimately, there’s a grand old Tottenham song called “When the Year Ends in One,” which was commemorated to celebrate Spurs reaching the 1991 FA Cup, which they went on to win. The song proudly boasts that anytime the year ends in a ‘1, Spurs win trophies (YouTube).

Since Daniel Levy’s appointment, that is no longer the case. A damning indictment of his tenure.

Daniel Levy deserves respect for establishing us among the wealthiest European elites.

That respect will only turn into love when he finally delivers us meaningful silverware and outlines a clear vision for Spurs to create their own echo of glory, akin to the great Bill Nicholson, whose ‘glory glory Tottenham Hotspur’, feels so far long ago.

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It first emerged towards the end of January that Qatar Sports Investment who own Paris Saint-Germain, had expressed interest in buying a minority stake in Spurs (The Athletic).

It was reported that QSI chairman Nasser Al-Khelaifi had met with Levy on multiple occasions to hold discussions regarding a potential stake in the Premier League side.

It then emerged in February that Iranian-American businessman, Jahm Najafi, is working with a consortium to prepare a £3.1 billion offer to buy Tottenham (The Financial Times).

The Evening Standard subsequently suggested that while Levy has had conversations with multiple prospective investors, he and Joe Lewis are undecided over whether they want to listen to offers for the whole club, sell a minority stake or remain in complete control.

The Spurs chairman has now rubbished the aforementioned reports regarding active talks to sell the club.

He told the debating society of Cambridge University: “We have a duty to consider any proposal that anyone wants to make. All I will say is that we are not in negotiations with anybody nor have we been over recent months. All the stuff in the newspapers have been completely untrue.”

Chris Brunskill/Fantasista/Getty Images

Spurs Web Opinion

It is obvious that the club will deny holding these talks but it has been quite clear for a while that Tottenham are for sale at the right price. However, whether someone would be willing to pay that price and accept their other demands (one being for Levy to stay on chairman) remains to be seen.

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The discontent among the fan base at the club’s ownership has continued to grow in light of another failed managerial appointment, with the club now on the lookout for their fourth different full-time head coach since Mauricio Pochettino’s sacking in 2019.

Marc Atkins/Mark Leech/Getty Images

Gold revealed that a group of 30 to 40 people protested outside the stadium on Saturday against the ownership, expressing their discontent at the club’s recent direction.

According to the journalist, the Spurs fans who attended the Seagulls clash made their feelings clear on Saturday regarding who they want to replace Conte, with chants of ‘Mauricio Pochettino, he’s magic you know’ said to have echoed around the stadium on two separate occasions.

Gold also stated that those chants were quickly followed by chants of ‘We want Levy out’.

Spurs Web Opinion

Now that Scott Munn has been appointed as the chief football officer, one would expect Tottenham to speed up their managerial pursuit over the coming days and weeks.

However, if reports over recent weeks are to be believed, it does not appear as if many in the club hierarchy are on board with the idea of bringing Pochettino back to the club.

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The ENIC group has owned Tottenham for more than 20 years now, with Daniel Levy the longest-serving chairman in the Premier League now.

Marc Atkins/Mark Leech/Getty Images

Despite this, there is growing unrest among supporters of the club, who feel Levy’s time is up and the ENIC group should sell the club.

There were chants of “Daniel Levy, get out of our club” on Monday night against Everton from the Spurs fans (Dan Kilpatrick), as well as the match against Brighton.

The problems at Tottenham behind the scenes have reached crisis point this season and a report from The Telegraph suggested Levy currently faces the worst period of his reign at the club.

Despite this, it seems financially the club is thriving and so are the board of directors according to the latest from analysis at Football Insider.

According to the data, Tottenham paid out a Premier League record of £6.8 million last season to its board.

Levy himself received almost half of that sum, making him the highest-paid director in the league.

Manchester United’s Richard Arnold was next on the list, receiving a payment of £1.9 million. The report states United paid out £6 million in total, while Arsenal were third highest with a bill of £4.3 million. Liverpool were next with payments of £3.4 million.

At Spurs, the payments were shared between Levy, finance director Matthew Collecott, executive director Donna-Maria Cullen, and non-executive director Jonathan Turner.

Spurs Web Opinion

I think it’s a joke that Levy and the board received that much money while the club struggles to invest properly in players and managers.

They should spend less time worrying about lining their own pockets and more time worrying about how to make the club a success on the field, which should be the sole purpose of any football club.

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Over the past few months, there has been plenty of speculation regarding various consortiums showing interest in buying Tottenham from ENIC.

Marc Atkins/Mark Leech/Getty Images

It emerged in February that Iranian-American businessman, Jahm Najafi, was working with a consortium to prepare a £3.1 billion offer to buy the Lilywhites (The Financial Times).

Meanwhile, it was reported in January that Qatar Sports Investments, who own Paris Saint-Germain, held conversations with the North London club regarding buying a minority stake (The Athletic).

According to The Evening Standard‘s recent update, Levy has had conversations with multiple prospective investors but he and Joe Lewis are undecided over whether they want to listen to offers for the whole club, sell a minority stake or remain in complete control.

However, The Mail believe that even if a takeover goes through, the Spurs chairman will insist on remaining in charge.

The publication asserts that the 61-year-old, who has been calling the shots for two decades, is in it for the long haul.

Spurs Web Opinion

It has been quite clear for a while now that Levy wants to remain in charge even in the event of a takeover.

The Spurs chairman might want to ensure that his impressive work in building up the club’s revenue streams, is not wasted.

In fact, that might be one of the factors that could even be holding up negotiations with various consortiums.

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It first emerged towards the end of January that QSI, who own Paris Saint-Germain, had expressed interest in buying a minority stake in Spurs (The Athletic).

(Photo by Visionhaus)

It subsequently emerged last month that Qatar’s former Crown Prince, Jassim bin Hamad bin Khalifa Al Thani, has launched a £4bn offer for the Red Devils (Daily Mail).

The Times reported on 18th February that Sheikh Jassim’s bid to takeover United will not affect QSI’s interest in Tottenham.  

The report revealed that sources close to the Qataris are adamant that there is a clear division between QSI, Sheikh Jassim and the country’s sovereign wealth fund. 

However, Jacobs believes that talks between QSI chairman Nasser Al-Khelaifi and Daniel Levy will remain dormant until the Man Utd situation becomes clear.

The journalist told GiveMeSport: “Even though Spurs deny it, we know that Daniel Levy held exploratory minority investment talks with Qatar Sports Investment.

“I think we can term those talks as on ice until the Manchester United Qatar picture becomes clearer.

“But QSI have got their own return on investment strategies, so it doesn’t rule out QSI doing something in a minority sense with another Premier League club.

“Obviously, Qatar don’t know if they will win yet, so it would be foolish for QSI to rule out any of their plans around the Premier League club before the Manchester United situation becomes clearer.”

Spurs Web Opinion

QSI are far from the only ones who have shown interest in Tottenham recently, with Jahm Najafi (Daily Mail) and Liberty Media (The Times) also thought to be exploring a potential takeover deal.

So, QSI would be aware that they cannot afford to wait if they have a serious interest in buying a minority stake in the North London club.

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The approach by MSP was first reported by the Financial Times earlier this month, with a potential £3.1 billion offer apparently on the table for a complete takeover of the club.

Marc Atkins/Mark Leech/Getty Images

MSP are led by Iranian-American businessman Jahm Nejafi, and that consortium would fund 70% of the aforementioned offer. The rest of the value is thought to be sourced from financiers in the Middle East.

It is believed Spurs chairman Daniel Levy has been in discussion with various parties regarding a range of different takeover options (Evening Standard).

However, it is not thought Levy and the ENIC group are even actively looking to sell up at the moment. It is also unknown what capacity the current would want to give up control if at all, be it a full takeover or a minority stake they negotiate.

Apparently, MSP are also exploring the possibility of acquiring a minority stake in Everton, where the current owners are keener to strike a deal.

The latest from Football Insider suggests MSP, a company that already owns a share in clubs from Portugal, Belgium, Spain and Germany, are stepping up their moves to take over an English club.

It is thought the private equity group has now begun conducting due diligence ahead of any proposed takeover.

A consultancy firm is believed to be carrying out background checks on Tottenham Hotspur Football Club, as well as “matters of financial governance at Premier League and UEFA level.”

Spurs Web Opinion

It certainly sounds like things are moving in the right direction on this takeover, as I doubt any consortium would hire consultants and carry out these kinds of checks without at least a hint of a deal being struck by the end of it all.

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The popularity of Levy and ENIC is seemingly at an all-time low among the Tottenham fan base, with some fans chanting for the owners to leave in some of the club’s recent matches (Football.London).

Marc Atkins/Mark Leech/Getty Images

The Spurs chairman’s latest decision will certainly not improve his popularity among the fans, with The Telegraph revealing that he has rewarded himself with a considerable pay rise.

The report reveals that Levy earned £3.265m this financial year in comparison to £2.698m the previous year.

Meanwhile, the total money pocketed by Tottenham’s directors, including managing director of Fabio Paratici and Todd chief commercial officer Todd Kline, has also gone up by almost £3m, with the Spurs directors seeing their pay go up from £4m to £6.7m.

The report explains that the £3.2m earned by Levy is still less than what the 61-year-old took home in the financial year that ended June 30 2019, when he was paid a salary of £4m and a £3m in bonuses for the completion of the stadium.

Spurs Web Opinion

It is not completely fair to report this as a pay rise for Levy since the report makes clear that his salary was at £4m per year a few years ago and the Tottenham chairman took a considerable pay cut during the pandemic.

However, these figures are negligible given how much Levy has contributes to improving the club’s revenue streams but Spurs fans who dislike the 61-year-old will undoubtedly use this as another stick to beat him with.

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The Evening Standard reported this week that while Daniel Levy has had conversations with multiple prospective investors, he and Joe Lewis are undecided over whether they want to listen to offers for the whole club, sell a minority stake or remain in complete control.

Marc Atkins/Mark Leech/Getty Images

It emerged a couple of weeks ago that Iranian-American businessman, Jahm Najafi, is working with a consortium to prepare a £3.1 billion offer to buy Tottenham (The Financial Times).

Meanwhile, it was reported last month that Qatar Sports Investments, who own Paris Saint-Germain, held conversations with the North London club regarding buying a minority stake (The Athletic).

Journalist Ben Jacobs told GiveMeSport a couple of days ago that Lewis and Levy would want around £1.5bn more than the £2.3bn that Todd Boehly paid to acquire Chelsea last year.

When asked about the relative value of the two London clubs, Maguire has now told Football Insider: “While Spurs are not a bigger club than Chelsea in terms of sporting success, most of Chelsea’s success came through Roman Abramovich preparing to write off losses of £900,000-a-week for 19 years.

“In contrast, Spurs have future-proofed their revenue streams through the move to the new stadium and this will give them a competitive advantage over Chelsea moving forwards.

“They should be able to generate £40-50m matchday revenues in excess of what their rivals produce. If that leads to greater participation in the Champions League then those monies can be increased even further.

“While Spurs are probably behind Chelsea in terms of commercial appeal globally, it does give the club an opportunity to grow and I think this is reflected in the value.

“Anyone taking over Chelsea knew there were significant infrastructure costs attached to Stamford Bridge but any investors looking at purchasing Tottenham are gifted with a new multi-functional stadium.”

Spurs Web Opinion

The revenue-generating potential of the Tottenham Hotspur Stadium is bound to increase over the coming years as it becomes more popular as one of the best venues in London for concerts and sporting events. That will certainly be factored into the valuation of the club.

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Ratcliffe was rumoured to be interested in purchasing Manchester United and is believed to have tabled a bid for the club last week (The Athletic). The 70-year-old is one of Britain’s richest men, and is the owner of the petrochemicals corporation INEOS.

Marc Atkins/Mark Leech/Getty Images

Qatari banker Sheikh Jassim Bin Hamad Al Thani has also put a proposal forward for the Red Devils, and it remains to be seen which offer the Glazer family will accept, if any.

Tottenham are also the subject of interest at the moment, with Iranian-American businessman Jahm Najafi leading a consortium for a £3.1 billion proposal (Financial Times). It’s suggested Spurs chairman Daniel Levy is in discussions with various other parties, too (Evening Standard).

However, Collymore reckons he has found the perfect fit for both Ratcliffe and Tottenham, and claims the former should turn his attention to the North London club.

Collymore said: “Sir Jim Ratcliffe should shelve his plans to buy Manchester United – and snap up Spurs instead. The billionaire businessman might be one of the frontrunners to take over at Old Trafford from the Glazers. But to my mind, he should fix his gaze on north London.”

On the project at Spurs, he said: “The club needs fresh input. It needs someone with the vision to take them across the line. Ratcliffe has just turned 70 years of age.

“At this stage of his life, surely leading Spurs to a cup win and taking them regularly into the Champions League would give him more of a buzz than winning trophies at Old Trafford.

“If he did take over up there, the expectation in 18 months’ time would be: ‘Deliver like Fergie.’ For any owner, that’s a nightmare. It’s not exciting, being told you HAVE to win every year. Spurs would take any pot at the moment.”

Spurs Web Opinion

From a moral viewpoint, I would feel far more comfortable with Ratcliffe taking over at Spurs than any of the Qatari propositions that are floating around at the moment.

We could see a domino effect here where, if Manchester United don’t go for Ratcliffe, he may well look at Spurs instead.

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Over the last two weeks, multiple publications have suggested that Iranian-American businessman, Jahm Najafi, is working with a consortium to prepare a £3.1 billion offer to buy Tottenham (The Financial Times).

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While such an offer is seemingly yet to arrive, some sources have suggested that the bid would be rejected as it falls short of Joe Lewis’ £4bn-£4.5bn valuation of Spurs (Daily Mail).

Last month, it was reported that Qatar Sports Investments, who own Paris Saint-Germain, held conversations with the North London club regarding buying a minority stake (The Athletic).

The Evening Standard reported this week that while Daniel Levy has had conversations with multiple prospective investors, he and Lewis are undecided over whether they want to listen to offers for the whole club, sell a minority stake or remain in complete control.

Jacobs believes that it will take a bid of at least £4bn to tempt the Spurs owners, given the price that Todd Boehly recently paid for Chelsea.

The journalist told GiveMeSport: “With Newcastle having PIF and Manchester United seemingly on route for new full ownership, whilst Liverpool could potentially be having some form of investment, Spurs may well choose to keep pace.

“I think that it’s a stick-or-twist moment in the market for a lot of these clubs. Spurs are in a very healthy position because they’ve got a wonderful, still relatively new stadium that brings in non-football business.

“They’re a London club and they’ve got a great fan base and a rich tradition. So, if Chelsea was £2.3bn, you can understand why Tottenham would see themselves as more than that, potentially £1.5bn more than that.

“That may be the sort of ballpark valuation that Joe Lewis might be intrigued by if an offer is made that high.”

Spurs Web Opinion

Spurs fans who desperately want ENIC out should not get their hopes up about a quick sale. Given the numbers being discussed, negotiations will likely be extremely slow and thorough.

Levy and Lewis will also be prepared to wait for a year or two in order to get as close to their valuation as possible.

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Over the last week, it has emerged that Iranian-American billionaire, Jahm Najafi, is working with a consortium to ready a £3.1 billion bid to takeover Tottenham but reports indicate that such an offer will fall short of Joe Lewis’ valuation of Spurs, which stands at £4bn-£4.5bn (Daily Mail). 

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It was previously reported last month QSI, who own Paris Saint-Germain, had expressed interest in buying a minority stake in the North London club (The Athletic).

Over recent days, there has also been Qatari interest in Manchester United, with the country’s former Crown Prince, Jassim bin Hamad bin Khalifa Al Thani, thought to have launched a £4bn offer for the Red Devils (Daily Mail).

The Times have now revealed that even if Sheikh Jassim’s bid to takeover United is successful, it will not affect QSI’s interest in Tottenham. 

The report states that sources close to the Qataris are adamant that there is a clear division between QSI, Sheikh Jassim and the country’s sovereign wealth fund. 

The publication explains that the Doha-based group are keen to add a Premier League club to their portfolio, and that Spurs are particularly attractive to them because of their profitability and the earning power of the club’s stadium.

Spurs Web Opinion

It is clear that both QSI’s funds and Sheikh Jassim’s are Qatari state funds in all but name. The day Tottenham become a vehicle for sports washing is the day that my love affair with the club will end.

I belong to the minority of fans who believe that the values of the club are more important than simply winning trophies.

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It first emerged a few days ago that Najafi, who is chair of MSP Sports Capital, is working with a consortium to prepare the structure of a £3.1 billion offer to buy Tottenham (The Financial Times).

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It was explained that the £3.1bn bid would consist of the club’s equity being valued at approximately £2.5bn, before adding about £610m to the club’s current debts.

It has since been reported that while Joe Lewis is open to selling Spurs, a bid of the aforementioned size would be turned down as Tottenham’s current owners value the club at £4bn-£4.5bn (Daily Mail).

Gold has now explained that no offer from MSP Sports Capital has been submitted yet and revealed that Tottenham’s owners continue to deny that they intend to sell the club.

The journalist said on his YouTube channel: “From what I understand the interest does seem to be genuine. Neither side has commented publicly, but people I speak to inside Spurs deny that any approach has been made. 

“That fits into the report saying that we’re weeks away from an approach. If you ask people inside Spurs they say there’s no intention to sell and they have long-term plans and ambitions.”

Spurs Web Opinion

It is quite clear that Tottenham are for sale as it is no secret that Levy has been inviting many potential investors to the club over recent months. 

However, a sale of this magnitude is unlikely to go through quickly. Lewis and Levy would not have any issues waiting for a couple of years to get the best possible deal.

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The Financial Times reported on Wednesday that Najafi, who is chair of MSP Sports Capital, is working with a consortium to prepare the structure of a huge bid to takeover Tottenham.

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The report revealed that Najafi and MSP would put forward 70 per cent of the capital while others, including backers from Abu Dhabi, would contribute the remaining 30 per cent.

It was further explained that the total bid of £3.1bn for the club is expected to consist of the club’s equity being valued at approximately £2.5bn, before adding about £610m of the club’s current debts.

Jordan believes that MSP Sports Capital would have to offer around £3bn without any debt for Levy and Joe Lewis to even consider starting negotiations.

When asked about the reported offer, the former Crystal Palace owner told talkSPORT: “This [bid] wouldn’t get them in the side door.

“I believe everybody has their price. I think there’s an underlying scenario with [Tottenham chairman] Daniel [Levy] that there’s more to do, lots more to do and this is the beginning of something, not the end of it.

“If somebody wants to come in and break their shoulders off with a ridiculous offer – I think £3bn is pretty propelling.

“I assume that £3bn minus any debt was going to be the position. I didn’t think they’d go for £3bn and have to pay off a debt they’ve got on the stadium so they’d walk out with £2bn. There is no traction in this.”

Spurs Web Opinion

Spurs fans who are hoping for a quick sale should not get their hopes up as Levy and Lewis will likely want to talk to many potential suitors as possible to get as close to their valuation as possible.

Levy also would not want the club to be saddled with even more debt (like Man Utd were when the Glazers took over the club) as that would risk undoing the good work he has done off the pitch to make the club one of the biggest economic forces in European football.

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Levy is currently the longest-serving chairman across the Premier League, having taken up his position with Tottenham in 2001 as part of the ENIC group led by Joe Lewis.

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Fans have become increasingly frustrated with the group and with Levy, for a perceived lack of ambition and investment in the club.

It has led many supporters to display banners protesting the current ownership and regular chants around the Tottenham Hotspur stadium imploring Levy to leave the club.

There’s a chance the fans may get their wishes, too, as it has emerged Iranian-American businessman Jahm Najafi is leading a consortium in an effort to purchase the club from ENIC (Financial Times).

However, it is thought that takeover attempt will be unsuccessful as the reported offer from Najafi will fall short of Joe Lewis’ valuation of the club.

Whether this takeover is successful or not, the latest from the Athletic suggests that it will take more than a hostile reception from the fans to drive ENIC and Levy out of Tottenham Hotspur football club.

The outlet states that, while Levy does indeed care about the supporters, the ‘Levy out’ and ‘ENIC out’ chants are not likely to force their hand and lead to a sale of the club.

Apparently, Levy is more concerned with delivering success on the pitch and continuing the commercial success that has come with the new stadium.

Spurs Web Opinion

Unless a mega offer is put on the table, I really cannot see Levy and ENIC walking away from Spurs any time soon. The club is in an incredible financial position right now and will probably keep getting better and better in that regard, so why would they give that up?

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