‘Significant increase’ – Daniel Levy says he is actively looking to sell a stake in Spurs
As Tottenham Hotspur’s annual financial results have been announced, it has also been revealed by Daniel Levy that he is actively looking to sell a...
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As Tottenham Hotspur’s annual financial results have been announced, it has also been revealed by Daniel Levy that he is actively looking to sell a stake in the club with discussions ongoing with ‘prospective investors’ leading to rumours of a full takeover.
Levy has been chairman of Tottenham since 2001, appointed by the ENIC group in the early stages of the company’s tenure as owners of the club.
In his time as chairman, Levy has turned Spurs into one of the most profitable and commercially successful clubs not just in the Premier League, but in the world of football.
As per the Deloitte football money league, the Lilywhites are now the eighth richest club in the world.
However, there has long been a section of the club’s fanbase that are unhappy with the way Levy and ENIC run the club, with talks of a takeover lurking for the past couple of years.
Daniel Levy plans to sell a stake in Tottenham
Those rumours are back, as the latest report from The Athletic reveals the financial results for Tottenham over the last year, and a statement from Levy regarding the plans to sell a stake in the club.
Levy’s statement reads: “To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base. The board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club’s shareholders.”
Spurs Web Opinion
I find it hard to believe that the club needs to sell a stake to be able to continue to invest in the team appropriately, but I’m no financial expert. If Levy and the board were to sell a minority stake, and if that leads to more money for signing players, then so be it. It could even be the first step away from ENIC ownership, which many fans hope to see.
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