Tottenham Sale Rumours: Latest Details, Buzz and Analysis
Updates from Friday, 12 Sept.
Tottenham released a statement on the reports of a potential sale on Friday:
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As stated in yesterday's announcement regarding the new stadium project, THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy.
The Club is focused on the new stadium development and the season ahead.
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Rumours have begun to swirl about Premier League club Tottenham F.C. being up for sale, and chatter is sure to increase with an unidentified group of American businessmen seeking to purchase the team.
According to The Telegraph's Matt Law, the interested buyers are being represented by Cain Hoy, a private investment company whose chief executive is 74-year-old Henry Silverman.
The reported price is in the range of £1 billion (about $1.625 billion), which would be a staggering 45 times the amount (£22 million) owner Joe Lewis purchased the team for just 13 years ago, per the Mirror's Darren Lewis.
Still, there are question marks about whether the Spurs are really up for sale. Law notes that Tottenham has denied any such reports, while the Mirror's Lewis reported on Wednesday that the 77-year-old Lewis is ready to sell.
As ProSoccerTalk's Mike Prindiville added, current stadium delays could further complicate a sale:
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The reason, aside from the exorbitant price tag, is that any new owner will be forced to assume the financial burden of building the club’s new stadium. And, as reported by ProSoccerTalk’s Joe Prince-Wright earlier today, the stadium situation grew more burdensome when a lawsuit was recently filed by previous landowners of the site that had been secured by the club for the new stadium.
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If talks do progress, Lewis may not be a major part of any negotiations. According to sources cited by Law, potential buyers will have to go through chairman Daniel Levy. And with any sale, an important negotiation point will be whether or not the 52-year-old keeps his position.
While the price is steep, and the stadium situation isn't ideal, Tottenham remain an attractive investment. The Spurs qualified for Champions League football as recently as the 2010-11 campaign, and they have finished in the top six in the EPL four consecutive seasons. According to Forbes, they are the 13th-highest-valued club in the world.
On the flip side, a wealthy new owner willing to shell out millions would have the Tottenham faithful dreaming of spending sprees in line with the elite clubs of the world such as Manchester City, Real Madrid and Chelsea.
Still, with Tottenham adamant about having no interest in selling, we are very clearly in the beginning stages of any potential deal.
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US Wants to Buy UK Tottenham FC=£1Billion($1.625 Bill)
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