Talks over Tottenham Hotspur’s takeover have continued to intensify in the wake of the club’s 2022/2023 financial accounts being published with a stunning new claim.
The club earned £549.6m in revenue in its latest financial accounts, a record, but lost £86.8m in total. Following the publication of the accounts, chairman Daniel Levy admitted that the club is in discussions with potential investors.
“Our turnover has passed half a billion pounds for the first time,” said Levy. “While UEFA funding has contributed, this has also been driven by increased stadium revenues from both football and non-football events and additional revenue streams.
“This is the impact of our multifunctional stadium and what our board is focused on investing in our football in a financially sustainable way. The absolute priority for our club is achieving success on the field.”
In recent years, Spurs have increasingly been mentioned as an option for billionaires looking to invest in a Premier League club, amid Todd Boehly’s takeover at Chelsea and Sir Jim Ratcliffe’s recent purchase of a 27.7 percent stake at Manchester United.
Qatari banker Sheikh Jassim has been suggested as someone of interest following his failed takeover at Man United. Elsewhere, American Rapper Jay-Z and Formula 1 owners Liberty Media have also been linked with the purchase of a stake in Spurs, with some new comments suggesting it is possible a major deal could be agreed this summer.
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That said, here is the latest news on the club’s investments or possible sale following the publication of the 2022/2023 season accounts.
Summer investment claim filed
Former Aston Villa and Everton CEO Keith Wyness has made a huge takeover claim for Tottenham, including a clear investment timeline.
“I have been involved in discussions with several groups who are genuinely interested in acquiring minority ownership of Spurs,” he told the Football Insider podcast. “But most groups want to buy a majority stake in the club.
“Some of the biggest names in finance are involved in the discussions. Rothschilds are the advisors to Spurs and they have had a share in the market for years, but no one has been able to find a deal yet.”
He added: “I sense something big is coming this summer when this deal for a minority stake could come much closer.”
Investment talks
In Spurs’ financial accounts, Levy confirmed: “the board and its advisors, Rothschild & Co, are in discussions with potential investors” as the north London team “must continue to invest in the teams and undertake future capital projects, the club a significant increase in equity”.
Liberty Media purchase
Formula 1 owner Liberty Media was suggested as a potential investor for Tottenham last summer. Those reports remained quiet and they have now taken their next step.
Earlier this week, the American media conglomerate bought MotoGP in a deal worth £3.6 billion. The deal is expected to be officially completed by the end of this year.
Liverpool plan
Rivals Liverpool have already secured recent investments in the club after announcing they would also be looking for additional cash. In September it was confirmed that New York-based company Dynasty Equity had invested between $100 million (£80 million) and $200 million (£163 million) to improve the club’s cash flow.
This ended rumors of an outright sale of the club, while Fenway Sports Group (FSG) shifted their own focus to other investments elsewhere. The Liverpool Echo now suggest they are keen to acquire an NBA expansion franchise in Las Vegas, although that is a longer-term ambition.
FSG is also reportedly keen to enter the golf market by investing in the PGA Tour in a bid that could rival Newcastle’s Private Investment Fund (PIF). After months of disagreement following the creation of LIV Golf, a properly ratified agreement between PIF, PGA Tour and DP World Tour is yet to be reached and this could open the door for companies interested in investing.
While it has no direct impact on Tottenham, as one of their Premier League rivals it is certainly significant that FSG are reportedly willing to compete with WWE and UFC owners Endeavor to enter the PGA Tour in this way.
Decision of Sheikh Jassim
Sheikh Jassim will not look for new football club amid links to attempt to take over Tottenham, reporter claims Ben Jacobs. It has been rumored that Qatar-based Nine Two Foundation could make a bid for Spurs following their failed move to Manchester United, but that now seems unlikely.
Offer confirmed
Tottenham have rejected offers for the club in the past, Levy confirmed. “Lots of people have made offers over the years, but there’s never been an offer that…” he began when Bloomberg asked him about it before being cut off. He was questioned about where the offers come from.
“All parts of the world, the Far East, the Middle East, America. Nothing has been put on the table that we think is important to the shareholders.”
On why nothing has happened, the English businessman added: “There are many reasons. For us as a board, we are just the custodians of this club. We want to take the club to the next level. We have spent the last twenty showing years of progress. We have made a major investment in our capital projects and in our team. If someone came along and we thought he could take us to another level, we would look at it.”
“If we find the right naming rights partner – and when I say that, I mean someone paying the right money in the right industry – then we are willing to consider it,” Levy said. “But we’re not as tied to it now as we might have been when we first looked at building the stadium.”
Admission of Levy
Levy has admitted he would consider selling a stake in the club if a good offer came along. In an interview with Bloomberg, he said: “I have no real interest in leaving Tottenham, but I have a duty to consider anything anyone wants to propose. It’s not about me, it’s about what’s good for the club. “
“We have 30,000 shareholders who own approximately 13.5 percent. We run this club as if it were a listed company. If anyone wants to make a serious proposal to the Tottenham board, we would consider it, together with our advisors, and if we I felt it was in the best interest of the club that we should be open to everything.”
Sheikh Jassim interested
Spurs could be an option is Sheikh Jassim, who is reported to have had five bids for Manchester United so far after failing to take control of Old Trafford.
According to ESPN journalist Mark Ogden, Sheikh Jassim and his entourage have identified Spurs as a possible option.
“They want the footprint of the Premier League,” Ogden told The United Stand. “Someone told me recently that they said if the Qataris don’t buy Man United, they will come back and maybe buy Tottenham.
“He said, look, if you have Manchester City owned by Abu Dhabi, if you have Newcastle owned by Saudi Arabia, if the Qataris maybe buy Tottenham, then you have three clubs that could pull out.”
Jay-Z prepares bid for Spurs
Shocking claims have emerged about a possible bid for Spurs by rapper Jay-Z. The New York native, famous for his hits such as ‘H to the Izzo’ and ’99 Problems’, is backed by US investors, according to the Express.
Jay-Z, who himself has a net worth of around £2 billion, has dabbled in sports having previously owned a stake in the Brooklyn Nets basketball team, while his Roc Nation empire had Manchester United star Marcus Rashford on its books.
Levy Contact
Levy and Al-Khelaifi are said to have had a close relationship since QSI’s interest in buying Spurs arose and contact was reportedly maintained amid links between Harry Kane and PSG. Fueled by rumors of a potential deal to bring Kylian Mbappe to North London, which was quickly rejected, Spurs could soon see a huge sum of money handed over to PSG with the sale of their prize money.
Levy and Al-Khelaifi are said to have ‘regular exchanges’ according to L’Equipe, with the possibility of a takeover developing if PSG is sold, while The Telegraph reports Spurs have a £3.5bn price tag after an approach of the deal. club in September 2021.
Tip for F1 owner
Greg Maffei, CEO of Formula 1 owners Liberty Media, has hinted that his next sporting venture could be in the Premier League. The American-based mass media company also owns the Atlanta Braves Major League Baseball team.
Speaking on the Walker Webcast, he said: “You name the Premier League teams; there isn’t a single asset we haven’t looked at. That doesn’t mean we’ve been ready to buy them all, but we’re looking at everything.” Because we find sports in general attractive, we think there are also benefits and we think that perhaps the things management teams have learned can be applied to other sports situations as well.”
The Telegraph reported that Liberty Media has been mentioned as a possible option ‘by one insider’, but they declined to comment on reports.
MSP interest
The Financial Times claimed in February that MSP Sports Capital chief Jahm Najafi was ‘on the verge’ of making a $3.75 billion (£3 billion) bid for Spurs. With Najafi as chairman of MSP Sports Capital, he would lead the club’s approach, but a consortium made up of other investors would also provide financing.
It was also reported that the other investors would be from the Middle East, with MSP contributing 70% of the money for the acquisition. The Telegraph reported that Najafi, who is now set to move to Everton, was ‘expected to submit an all-out buyout offer’
Levy’s position
Levy recently broke his silence on a possible takeover during a talk at the Cambridge Union in April last year. “ENIC owns about 87% of the club and we have 30,000 shareholders and most of them are fans who own the shares,” he said.
“We have a duty to consider any proposal that anyone wants to make. All I’m saying is that we are not in negotiations with anyone, and we have not been in recent months.”