Abu Dhabi-backed group interested in full Tottenham takeover get major update
Today at 12:45 PM
After weeks of inactivity, there has been several updates in recent days relating to the ownership situation at Tottenham.
Writing in Spurs‘ most recent set of financial accounts, chairman and co-owner Daniel Levy said that they were seeking investment to strengthen their capital base.
It was widely suggested that this would come in the form of a partial rather than full takeover, with various outlets reporting that ENIC were willing to sell between 10 and 25 per cent of their equity.
Spurs are believed to value themselves at around £3.75bn and have commissioned the Rothschild bank to search the market for potential investors.
Amanda Staveley, the former Newcastle United co-owner and director, is believed to have secured investment of around £500m, potentially to invest in Spurs.
Earlier this week, Levy confirmed to a Tottenham supporters forum that a minority sale is indeed being sought and that the club is actively scouring the mergers and acquisitions market.
And the door has now opened for a familiar name to return to the table.
MSP Sports Capital learn outcome of investment talks
MSP Sports Capital are a New York-headquartered company run by sports investment heavyweights Jeff Moorad and Jahm Najafi.
Previously, the company was linked with a full takeover of Spurs and TBR Football understands that they want as far as to conduct detailed due diligence about the club and football’s regulatory landscape.
Their starting proposal was expected to value the club at £3.1bn, with around 30 per cent of the finance coming from backers from Abu Dhabi.
However, they later turned their attention to Everton and even loaned the financially stricken Merseyside club £200m with a view to potentially converting that into an equity stake.
But Everton owner Farhad Moshiri ultimately went down a different path, selecting 777 Partners for exclusive talks.
Those talks eventually broke down, as did negotiations with AS Roma owner Dan Friedkin and multi-club mogul John Textor.
But in yet another twist, The Friedkin Group have returned to the table and now agreed a full takeover of the club.
Given that their debt with Everton is now settled and Friedkin’s takeover is expected to be ratified by the Premier League, MSP Sports Capital could theoretically be contenders to buy into Spurs once more.
However, Levy’s preference for minority investment means that they would likely have to abandon any hopes of a full takeover in favour of a smaller deal.
The firm, whose backed Moorad has been called ‘one of the most powerful people in sport’, own stakes in Mclaren Racing as well as several European football clubs.
Tottenham investment timeline
Daniel Levy’s negotiation style is notoriously tough – some might even say obstinate.
That does not bode well for a speedy resolution to the search for investment and the 62-year-old’s recent comments don’t indicate that any great progress has been made.
What’s more, the Premier League mergers and acquisitions market is saturated at present.
While the Everton saga looks to be reaching its crescendo, West Ham, Brentford, Crystal Palace and potentially Chelsea could all potentially sell minority stakes too.
Even when things begin to ramp up in the Spurs case, it will take a long time to reach a conclusion, with myriad regulatory and fiduciary hoops to jump through before a deal can be completed.
Don’t expect movement any time soon.
