A US consortium has launched an astonishing £4.5billion (€5.1bn / $60bn) takeover bid for Tottenham Hotspur, with a huge amount set aside for transfers in what could be a transcendent moment for the club.
Tech entrepreneur Brooklyn Earick is heading a 12-man group that has lodged the offer to acquire the Tottenham Hotspur Stadium club.
The report in The Sun states that Earick is offering £3.3bn to buy out the current Spurs owners – ENIC and the Lewis family.
The proposed new Tottenham owners are also ready to set aside an incredible £1.2bn for transfers, as they look to turn the club into genuine challengers in all competitions.
Earick has also lined up a £250m stadium naming rights deal for Spurs, with the club currently without a sponsor for their ground since opening it in 2019.
The Sun goes onto report that the 41-year-old Earick has assembled a consortium that includes NFL and NBA investors to back his vision for Tottenham.
Andrew Ashcroft recently purchased 8,023,942 shares in the North London club, which represents a 3.4% stake in Tottenham.
The price has not been disclosed but the shares are likely to have cost around £100 million based on recent valuations of the north London outfit.
Earick will be meeting that valuation with his offer. However, whether the majority owners of Tottenham will be open to selling remains to be seen at this stage.
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ENIC owns 86.58% of Spurs, with former chairman Daniel Levy, who recently walked away after 24 years at the helm of the club, and his family owning 29.88% of those shares.
Spurs minority shareholders own the remaining 13.42% of the club between them, but Earick is only keen on the majority shares.
The former DJ, who also once worked for NASA, started initial discussions with the Spurs hierarchy – including Levy – some months ago.
Talks have accelerated since Levy exited, with ex-Arsenal executive Vinai Venkatesham now the main man, and it’s believed the former chairman was the hindrance to a sale because of his desire to remain in charge even in the event of a takeover.
The report goes on to state that Earick wants a takeover completed by December to allow him to splash the cash during the January transfer window and hit the ground running – news that will no doubt delight current boss Thomas Frank.
However, that may be wishful thinking as it could take months before everything is finalised, if the club’s current majority owners agree to sell.
And sources close to the Lewis family, who run Tavistock, the company behind ENIC, are said to have told football.london that their stance has not changed and that Tottenham is still not for sale.
Spurs have made a strong start to the new season under Frank, winning three of their five Premier League outings to sit third in the table, while they also won their Champions League opener against Villarreal.
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