Tottenham Hotspur have continued to attract interest from potential investors in recent weeks, and a finance expert has now revealed what the club could realistically be worth on the open market.
Tottenham Hotspur have not been short of interest in recent weeks, with several consortia reportedly trying to acquire the club from ENIC.
The club’s stance, however, has remained firm, with officials adamant that Tottenham is not for sale, even after Daniel Levy’s departure.
Brooklyn Earick, who was rumoured to be exploring a £4.5 billion offer for Spurs, has now ruled out making a formal takeover bid after his informal expression of interest was “unequivocally rejected”.
Finance expert Kieran Maguire reveals Tottenham’s true market value
PCP International Finance Limited, along with a consortium led by Dr Roger Kennedy and Wing-Fai Ng, also saw their approaches turned down last month.
But how much are Tottenham really worth? Speaking to BBC Sport, football finance expert Kieran Maguire shared his insight on what would represent fair market value for the North London club.
Maguire drew comparisons with other Premier League clubs to explain his estimate, saying that Tottenham’s revenue levels suggest a multibillion-pound valuation.
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“Chelsea went [for] five times their revenue,” he told BBC Sport. “Spurs’ revenue is probably in the region of £550m to £600m. You multiply that by five and you are probably looking at somewhere just short of three billion pounds.
“But when Manchester United were partially acquired by Sir Jim Ratcliffe a couple of years ago, for every pound of revenue, they were valued at around about seven. You apply that to Spurs and you are probably looking three and a half to four billion.”
Why Tottenham remain an attractive prospect despite on-pitch struggles
Spurs have not achieved the level of success many fans desire on the pitch, and plenty would rightly point to a lack of ambition from ownership as the root cause. However, they remain a highly appealing proposition for potential investors.
Maguire explained why Tottenham’s infrastructure and financial management make them particularly attractive to buyers.
“Anybody buying Spurs, they have already future-proofed a lot of the spending that you might have to consider,” Maguire told BBC Sport.
“It is about as future-proofed a stadium as you could possibly hope for. The training facilities have also had huge investment.”
Off the field, Tottenham’s history, global appeal and commercial potential continue to strengthen their profile as a modern football business.
“They do not have PSR (profit sustainability rules) worries because they do keep their costs low,” Maguire said. “If you are going to put money into Spurs, all of that money is going to go on to the playing side of things. You have also got the London factor, which makes it very attractive. Spurs as a business proposition are very, very attractive.”