Ng Wing-Fai and Brooklyn Earick are teaming up to buy out Daniel Levy’s stake in Tottenham Hotspur, according to the Sun. The duo failed with individual bids to buy the Tottenham Hotspur Stadium club and are now looking to work together. Levy wants around £1 billion for his 29.9 per cent stake in Spurs, and a sale could put owners ENIC under more pressure. British business executive Amanda Staveley is also mulling a fresh bid next month after her investment vehicle – PCP International Finance – were linked with a potential Tottenham takeover at the beginning of the campaign.
Earick headed a 12-man group that had planned to lodge an offer to acquire the North London club in a £4.5bn deal. He was keen to offer £3.3bn to buy out the current Spurs owners – ENIC and the Lewis family – through a US consortium. Earick also claimed they were ready to set aside a further £1.2bn for transfers and line up a £250m stadium naming rights deal for Spurs. However, he withdrew his bid despite several meetings with Douglas Armstrong, the Lewis family’s legal counsel.
Hong Kong businessman Wing Fai also led a consortium that wanted to offer the Tottenham owners a deal. While they are both prevented from making a bid or attempting a takeover for six months – a period which runs out on March 6 – under Takeover Panel rules for withdrawing their separate bids, they are not prevented from purchasing Levy’s stake. It is marginally below the 30 per cent threshold which would demand a full bid.