Tottenham’s owners could agree a new deal with Daniel Levy in the Bahamas following his exit from the club.
Tottenham confirmed Levy has stepped down as executive chairman on 4 September after spending 24 years in the role, with his departure fueling rumours around a potential takeover deal.
Tottenham released a statement responding to the takeover speculation on 7 September, claiming they have “unequivocally rejected” two expressions of interest and the club is “not for sale”.
ENIC owns an 86.91 per cent stake in Spurs, with Levy and members of his family holding a 29.88 per cent share in the British investment company, and Joe Lewis’s family trust owning the remaining 70.12 per cent.
Former Man City financial adviser Stefan Borson exclusively told Football Insider ENIC is likely looking to find a buyer for Levy’s shares, with any potential deal expected to take place in the Bahamas, where Lewis and Tottenham’s new non-executive chairman Peter Charrington are based.
Tottenham’s situation with Daniel Levy is unsustainable
Football Insider revealed on 5 September Amanda Staveley has been in talks about a Tottenham takeover.
However, Staveley’s company PCP International Finance released a statement on 8 August confirming it “does not intend to make an offer for Tottenham”.
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Speaking exclusively to Football Insider, Borson said: “I think that they’re being honest in terms of them not having a particular desire to sell right now, certainly not all of it.
“But I do think that the situation with Daniel Levy doesn’t seem to be sustainable. He’s been effectively excluded from the management group.
“He’s got a very substantial holding in the club, indirectly he owns 30 per cent of ENIC, so you would think that the possibility at the ENIC level, not the Tottenham Hotspur level, that there might be some discussions about who can replace Daniel Levy within the ENIC group that would then be the ultimate holder of shares in Tottenham Hotspur.
“Now, that transaction, if it happened, would take place in the Bahamas. Daniel Levy and his family would receive the consideration of that sale of that 30 per cent and probably would not be anything to do with the takeover code given that that company is a private Bahamas-based entity.
“So, it may be that Daniel Levy’s stake in ENIC is up for sale. But, of course, when Vinai Venkatesham speaks, he doesn’t need to say that. He can say Spurs is not up for sale, and that’s true.
“That’s because actually what they’re trying to do is find a partner at the ENIC level, either to take Daniel Levy’s share or to take maybe in total more than 50 per cent of ENIC. That’s also possible.”
Daniel Levy’s shares in ENIC could be worth £750million if he decides to agree a sale.
Tottenham investors’ takeover plans revealed
Football Insider revealed on 11 September the potential Tottenham investors want to improve the club’s revenues after exploring a deal.
It is understood the commercial opportunities with the NFL games and concerts as well as the scope for further development around the club’s stadium is attracting interested parties.
Spurs are in a strong position financially after posting a turnover of £528.2m in their latest published accounts for 2023-24, with their commercial revenue standing at £255.2m.