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Tottenham Hotspur have an estimated value in the region of £3.5bn-£4bn, according to football finance expert Kieran Maguire.

Talk of the club's future ownership has been hotly discussed in recent weeks following Daniel Levy's departure as executive chairman after 24 years.

American tech entrepreneur Brooklyn Earick has ruled out making a formal takeover bid for the club after Spurs "unequivocally rejected" an informal expression of interest.

Last month the club also rejected approaches from former Newcastle United shareholder Amanda Staveley's PCP International Finance Limited and a consortium led by Dr Roger Kennedy and Wing-Fai Ng.

Tottenham have insisted that the club is not for sale despite Levy's exit.

While Tottenham's true value is dependant on the fee the owners would accept, Maguire estimates that it could take between £3.5bn to £4bn to buy the club.

"Chelsea went [for] five times their revenue," he said. "Spurs' revenue is probably in the region of £550m to £600m. You multiply that by five and you're 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."

Despite Tottenham's failure to win the top-flight since 1960-61, the club is an attractive proposition for potential investors.

The club is located in London, their 62,850-capacity stadium is one of the most impressive in the country, and they also have an agreement to host up to 30 major non-football events per year - including NFL matches, concerts and boxing events.

"Anybody buying Spurs, they've already future-proofed a lot of the spending that you might have to consider," Maguire told BBC Sport.

"It's 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, lure and commercial potential make them an attractive buy.

"They don't 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've also got the London factor, which makes it very attractive."

"Spurs as a business proposition are very, very attractive."

In May 2022, a consortium led by American investor Todd Boehly bought Chelsea for £4.25bn from Roman Abramovich.

Sir Jim Ratcliffe's 27.7% takeover of Man Utd in February 2024 valued them at around £4.5bn.

Newcastle's sale to the Public Investment Fund in October 2021 was completed for £305m, but Maguire adds that the world of football has "exploded" since then.

"As far as Spurs are concerned the infrastructure investment has been substantial," explains Maguire.

"It does mean that you inherit a club with money owed to the banks but since the move from the old White Hart Lane to the new [stadium], they have more than trebled their matchday income. They have quadrupled commercial income and they've managed to reap the benefits, so that does put them at an advantage.

"The disadvantage that Spurs have got, and this is not being disrespectful to the club, the trophy cabinet doesn't have as many trophies in as either Chelsea or Manchester United. Therefore, perhaps the global element of the fan base, built on the back of success on the pitch, isn't there to the same extent at Spurs.

"At the same time there is a huge waiting list for people who want to see every match there."

This article is the latest from BBC Sport's Ask Me Anything team.

Tottenham's early-season rise has owed much to a collective identity set by Thomas Frank, but very few players have embodied their newfound graft and flair like Mohammed Kudus.

Since joining the North London club from West Ham for £55m, Kudus has added attacking incision but also intensity without the ball, as reflected by the statistics, highlighting his impact on both ends of the pitch.

Kudus ranks in the 90th percentile for goal-creating actions among Premier League wingers and attacking midfielders, meaning he's performing better than 90 per cent of his positional peers in that category. (Percentiles show how a player compares to others in their position - 100 being the best, and 50 is average.)

That creative influence is backed up by his 70th percentile for key passes. Key passes are passes that lead directly to a shot, underlining his role as a reliable link between Tottenham's midfield structure and their front line.

The Ghanaian's ability to beat players remains elite. His 97th percentile for successful take-ons places him among the best ball carriers in the league, but what's changed this season is how those dribbles fit Tottenham's tactical rhythm.

Under Frank, Kudus has become more disciplined in when and where to drive forward. He's not dribbling for show; he's breaking lines, drawing fouls, and creating overloads in key areas.

Before last weekend, Leeds United's last top-flight game against Tottenham Hotspur came in the final fixture of the relegation season two and a half years ago.

Sam Allardyce was in the dugout that day and United lined up in a 5-4-1 formation, with a midfield featuring Robin Koch, Weston McKennie and Adam Forshaw. What followed was a performance so devoid of passion, competence and work-rate that it prompted then captain Liam Cooper to tell the players, in not so many words, that if they did not want to be at the club, to leave.

McKennie was particularly derided by a vociferous Leeds crowd, who vocalised their displeasure at both the board and players.

The whole club needed a reset. And, despite suffering another loss to Spurs last weekend, that Leeds were beaten was the only similarity between the two games.

In fact, the ever-present fans aside, Leeds United is an organisation re-imagined. New owners, a new manager and a new team – only Jack Harrison remains from the starting XI beaten 4-1 on that day.

Plus, in the directors' box, there was no Victor Orta screaming until he is red in the face and trying to convince anyone who will listen on the merits of a raft of average players. No stony-faced Angus Kinnear. No former owner, Andrea Radrizzani.

Just chairman Paraag Marathe and a professional recruitment team that – instead of bringing in players like McKennie - have transformed the squad over the past few years with excellent additions such as Joe Rodon, Ethan Ampadu, Sean Longstaff, Anton Stach and Jayden Bogle.

All were bought relatively cheaply and are now worth more than the price Leeds paid for them.

Upper management at a football club is often a thankless task, but they should be praised as Leeds have come a long way in two years.

If perfect transfers exist in football, then Son Heung-min's move to Los Angeles FC looks set to be one of them.

His first two months in Major League Soccer (MLS) have been a rare conjunction of a player making the best move they could at a certain point in their career, and a club signing the best player they could at a particular moment in time.

Son has eight goals and three assists in his first nine appearances for LAFC, and his arrival has them being spoken of as serious contenders in the upcoming MLS Cup play-offs.

There were moments towards the end of Son's time at Tottenham Hotspur where his performances were questioned.

It was not clear whether this was a blip for the 33-year-old or the kind of drop in quality many players begin to experience once they reach their 30s.

His displays during his early weeks at LAFC have reassured fans that any dip was temporary.

Yes, MLS may be an easier level of league for players to move to as their careers wind down, but it brings its own challenges and is not always easy to adapt to.

Several big-name players from Europe failed in MLS, and some made their teams worse, not better. So far, Son has combined the hype and attention of a big signing with big performances.

In many ways, Son has been as good a fit for the team as Carlos Vela, who was the franchise's flagship signing before its first MLS season in 2018.

"It is very comparable," says Dave Denholm, a long-time radio broadcaster who commentates on LAFC matches. "Vela had to be incredible, both on and off the pitch, and he was.

"Son has done the exact same thing, which I didn't think was going to be possible for a very long time for LAFC. It was the perfect signing."

Just as Vela represented the large Mexican community on the south-west coast of California, Son represents Los Angeles' considerable Korean population.

"I would say the Korean community is a close second to the Mexican community in the city of Los Angeles," says Trebor Tracy, owner of Los Angeles FC fansite Angels on Parade.

"One of the big supporters' groups [the Tigers] is a majority Korean supporters' group, and they've always been a big part of the culture being built here for LAFC. So when we did sign Son, it was a big moment for them.

"It was that mix of a really good player who also already had the hearts of the community on arriving."

Those waiting excitedly to see what Son could do in LA have not been disappointed, with him even exceeding expectations.

Max Bretos is a soccer broadcaster who has witnessed all the big arrivals in MLS, from David Beckham to Lionel Messi, and believes Son's immediate acclimatisation makes his arrival unique.

"He landed on a Tuesday. On Wednesday he had the introductory press conference, and his visa process went through quickly, so by Friday he was on his way to Chicago to play his first game," says Bretos.

"Then he played in the game, off the bench, and you could see it there. His second game was in New England, where they play on [artificial] turf. Generally, when the big stars arrive, they don't want to put them on turf right away, for obvious reasons, but he started, played 90 minutes and assisted a goal.

"He's played every game, and he's played almost every minute of every game. This is unheard of. He was on the field immediately, and you can see the reaction of his team-mates - they loved him. It's like he'd already been there for months."

Big signings in MLS can often become the defining aspect of the franchise they join as everything becomes all about one player, but this has not been the case in LA.

"If a player like Cristiano Ronaldo arrived in MLS, he would move the needle in many ways, but if he arrived it kind of becomes his club," adds Bretos.

"Much like in Miami with Messi - which is fine. But I think LAFC maintains its identity as Son Heung-min just blends into it, which I think is what he wanted. It's a perfect marriage."

A good example of this teamwork is the form of forward Denis Bouanga.

Since Son's arrival, Gabon international Bouanga has scored 11 goals in nine games. This run has made him the first player with three consecutive 20-goal seasons in MLS, and put him level with Messi at the top of the 2025 Golden Boot race.

Between them, Son and Bouanga have scored LAFC's past 18 goals, and with the end-of-season MLS Cup play-offs just around the corner, there are now shouts that LAFC could win it.

There have been signs that Son's arrival is having a similar impact to that of Messi.

From media coverage to ticket sales to his still world-class performances, Messi created a buzz around MLS that had not been seen since Beckham joined LA Galaxy in 2007.

Though the numbers have not quite reached Messi levels, Son's impact has been significant.

His introductory media conference has 200,000 views on YouTube (Messi's has 337,000), and LAFC reported about 34 billion views across social media channels when Son arrived in August (a 594% increase).

The club's general manager, John Thorrington, said Son's shirt was the highest-selling across all sports.

A free-kick against FC Dallas was his first goal for his new team, and caught the eye of many Spurs fans who always believed he should have taken more free-kicks for their club.

"I don't want to lean into the social media aspect too much, but when we look at our numbers across the board, it's five or six times the amount of interactions or views in anything we do," Bretos added. "So you see the impact - it's huge."

In some ways, the global appeal does not matter so much when the local buzz is so high.

Plenty of big names have been through MLS without making such a connection, but on this early evidence, Son will not be one of them.

Thomas Frank has rightly prioritised improving the team's defensive play, and, although still not perfect, it is considerably more organised and robust than at any point under Ange Postecoglou.

The trade-off with discipline and structure is that it does not necessarily produce exciting football. Well, at least not immediately anyway.

The integrity of Frank's foundations is clear to see and holds much promise for a successful future. In other words, you can see what he is building – and it looks good.

While the injuries to Dejan Kulusevski and James Maddison are frustrating, to imply that we are devoid of creativity without them is unfair to the likes of Mohammed Kudus and Xavi Simons, not to mention Lucas Bergvall and Pape Matar Sarr.

It is also worth noting that both Kulusevski and Maddison have had dry spells for Spurs, with the latter in particular being accused of ghosting whole matches before.

While we are definitely a stronger side when they are fit, there is nothing wrong with healthy competition for their positions, and less established players must prove why they should not automatically be replaced once the cavalry arrives.

Kudus's goal against Leeds United on Saturday will hopefully be a catalyst for a scoring streak. Clearly, Simons is still finding his feet, but he looks much more comfortable and effective in the number 10 role, and that failed rabona pass should provide him with a valuable lesson in decision-making.

Rather than a lack of creative spark, the most significant deficit at Spurs right now is a quality striker. This should be comprehensively addressed once Randal Kolo Muani recovers from the most Spursy of introductions to the club – a dead leg.

Ange made recklessness look exciting. Now it's time for Frank to show that discipline can foster creativity.

'Sunderland may prove me wrong this season'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Sean: Hi Phil. Easy question, difficult answer. Top three and bottom three - have your pre-season predictions altered?

Hello, Sean. I can't be changing them just yet, so I'll stick with my predictions of Liverpool as champions, followed by Arsenal and Manchester City.

Liverpool's frailties look to have given Arsenal a much better chance than maybe I thought, though.

My bottom three was Wolves, Sunderland and Burnley. Again, it's very early days but I still see Wolves and Burnley struggling.

Sunderland, on the other hand, have made a very decent start and may prove me wrong.

Will Wolves survive?

Wolves' chances of survival are looking pretty slim right now, if you are to believe Opta's predictions.

They're seven games in and have just two points on the board.

As Nick pointed out in his question, the promoted sides this season are putting up a fight and that could work against Wolves.

'We shouldn’t fear for Pereira’s job'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Nick: Hi Phil. What are your thoughts on Wolves' start to the season and do you fear for Vitor Pereira's job? I think we got away with the promoted sides being so poor last season, but I fear our luck may run out this time around.

Hello, Nick. We shouldn’t fear for Vitor Pereira’s job because he only signed a new long-term contract the other day, although we also know how the world of football works.

There have been signs of improvement recently. Wolves were unlucky not to win at Spurs, only being denied by a stoppage-time equaliser.

I tipped Wolves to be relegated at the start of the season and I haven’t seen much yet to make me feel I might be wrong. Nothing personal, Wolves fans.

'Not sure about a Chelsea title challenge'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Kevin: Hi Phil, Chelsea fan here. I wanted us to sign a world-class goalkeeper, Victor Osimhen and an experienced centre-back this summer. Had the club done this, I think they would be challenging for the title. What do you think?

I'm not sure about a title challenge Kevin, but it would certainly have improved their chances. I have expressed my reservations about goalkeeper Robert Sanchez before and I find it astonishing that, for all the money spent, Chelsea still do not have a proven goalscorer - although I do think Joao Pedro has the potential to be that player.

Chelsea should take great heart from the manner in which they beat Liverpool, despite having so many injuries before and during the game.

I fancy Chelsea for top four and they always have an uncanny knack for winning a trophy.

'No chance' Tottenham secure Premier League title

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Daniel: Hi Phil. Do Spurs finally have the squad to challenge for the title? With Liverpool and Man City struggling, maybe now is their time? They were unlucky in 2015-16.

Hi, Daniel. Steady on - I love your optimism but don’t forget Spurs finished 17th last season, so that would be some improvement.

I do think you should be optimistic - but not that optimistic.

I believe they have a reasonable shot at the top six though, and I really rate Thomas Frank.

The Premier League title though? No chance.

'Neither Beto nor Barry are up to it at the moment'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Thomas: Do you think Everton have turned a corner and have a chance at breaking into the top half this season? I just can't see past the striker issue at the moment.

Hi, Thomas. I do think Everton have a real chance of finishing in the top half this season. They look much better under David Moyes - although I still think he made a huge error picking a weakened team against Wolves in the Carabao Cup.

Everton fans are desperate for a trophy after 30 barren years. It was a needless waste of a chance to go far in a competition they should have targeted.

If there's anything that is going to hold them back, it is exactly what you have said. Beto is not good enough and I think we have to be kind and say Thierno Barry is a work in progress.

Either way, neither are up to it at the moment and you suspect Moyes also knows it from the way he is chopping and changing them, often during games and even at half-time.

'Wharton too good to be left out for much longer'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Adrian: Hi Phil. Adam Wharton is one of the Premier League players of the season so far, he has been excellent for the last month or so. What does he have to do to get into an England squad that Jordan Henderson is in?

Hello, Adrian. I totally agree that he has been one of the Premier League players of the season and, having seen him run the show against Liverpool at Selhurst Park, I was really surprised he was not in the latest England squad.

He revealed he had a text from head coach Thomas Tuchel explaining that he thought he was doing well but wanted to stick with the same squad this time.

It can’t be too long before he is in, though. He is simply too good to be left out for much longer.

'Guehi may well want to assess his options'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Mick: We can see why Crystal Palace tried so hard to keep their captain during the transfer window, but what should Liverpool do about Marc Guehi now? (a) pay the money to get him in January, (b) wait until the summer to get him on a free or (c) swap him for Ibrahima Konate.

Morning, Mick. The way Liverpool’s defence has been performing this season, I would not be surprised if they tried again for Guehi in January. Ibrahima Konate has been having a poor time and they need more reliability alongside Virgil van Dijk.

The problem there is that Guehi, who is out of contract at the end of the season, may well want to wait until then to assess his options.

I think your idea of a swap deal is a complete non-starter.

'Man Utd still have a unique pull'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Michael: If Manchester United decide to sack Ruben Anorim, who would you want to take charge at Old Trafford?

Morning, Michael. First things first, I am not really in the business of calling for, or wanting, managers to be sacked.

However, if this did happen, I think any manager would look very carefully about whether they would want to take on what has been a poisoned chalice, under a hierarchy that has really struggled to make good decisions on and off the pitch.

I would add that Manchester United, whatever state they are in, still have a unique pull so I am sure someone would jump at the chance to manage them.

Man Utd's next five games

Let's turn our attention to Manchester United briefly.

A win against Sunderland at the weekend took the pressure off Ruben Amorim heading in to the international break.

They return to action against Liverpool and travel to Anfield knowing they haven't won in the league there since 2016.

Could the next few games decide Amorim's future? And what happens if he is sacked?

Take it away Phil...

'No need for Semenyo to go anywhere just yet'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Mike: Is Antoine Semenyo superior to players in similar positions at the 'big six' clubs? Should he stay at Bournemouth, as he has recently signed a long contract, or become a squad member at a club like Chelsea, Liverpool or Manchester United?

Hello, Mike. He is certainly bang in form and flourishing at Bournemouth, so there is no need for him to go anywhere just yet.

I'm not sure Chelsea or Liverpool would move for him at this stage, while Manchester United are in a state of flux.

My view is that he is absolutely fine where he is working under an outstanding coach in Andoni Iraola.

'Aston Villa already back on the straight and narrow'

Q&A with Phil

Phil McNulty

BBC Sport chief football writer

Dave: Have Aston Villa finally turned a corner and will they kick on now? What was your pre-season prediction for them and has it changed?

Hello, Dave. It's a little bit early to say, but I think it was just a question of players finding their form and getting some confidence. They have finally scored some goals, and there was always every chance a manager as good as Unai Emery would get them back on the straight and narrow before too long.

I predicted fifth place for Villa and I'm still pretty comfortable with that.

They have a 7.52% chance of that according to our friend the supercomputer.

Harry Kane says his interest in returning to the Premier League has cooled and he is willing to open talks with Bayern Munich about a new contract.

Kane is halfway through the four-year deal he signed when joining from Tottenham Hotspur for £86.4m in the summer of 2023.

The 32-year-old has scored 103 goals in 106 appearances for the German club, helping them win the 2024-25 Bundesliga title - the first honour of his career.

Tottenham manager Thomas Frank has said he would like to see Kane return to England, where he needs just 48 goals to eclipse Alan Shearer's all-time Premier League scoring record of 260.

But the England captain says he is no longer as keen on returning home as he once was, and would consider extending his stay in Bavaria.

"In terms of staying longer, I could definitely see that," he said.

"I spoke openly a couple of weeks ago that I have not had those conversations with Bayern yet, but if they were to arise I would be willing to talk and have an honest conversation.

"Obviously it depends on how the next year or so goes and what we achieve together. Right now, I would say we are in a fantastic moment and I am not thinking about anything else.

"In terms of the Premier League, I don't know. If you had asked me when I first left to go to Bayern, I would have said for sure I would come back.

"Now I have been there a couple of years I would probably say that has gone down a little bit, but I wouldn't say I would never go back.

"What I have learned in my career is that different opportunities and different timings happen and things fall in place. Going back to my first point with Bayern right now I am fully all in with Bayern."

American tech entrepreneur Brooklyn Earick has ruled out making a formal takeover bid for Tottenham.

Tottenham "unequivocally rejected" an informal expression of interest from a consortium led by Earick last month and insisted the club was not for sale.

But UK takeover and merger rules dictated that, having had an expression of interest rejected, Earick's consortium needed to make an offer by 24 October or announce they would not do so.

Confirmation of the decision was made in a statement made by Tottenham to the London Stock Exchange, stating the club is "no longer in an offer period".

Earick posted an image of the statement on social media, adding: "It's been a privilege engaging with Tottenham Hotspur and the Lewis family's representatives over the past few months.

"I have great respect for the club, its leadership, and its supporters, and wish them nothing but success."

The club's board thanked the consortium for its "constructive approach" in negotiations and for "respecting the clear position" of the owners that the club is not for sale.

Earick is a former DJ who also worked in spacecraft research for Nasa before founding Redacted RnD, which focuses on technology, media, sport and entertainment.

His approach was the third expression of interest rejected by the club's board since the sudden departure of executive chairman Daniel Levy in September.

On 8 September, the club rejected approaches from former Newcastle United shareholder Amanda Staveley's PCP International Finance Limited and a consortium led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.

Levy and his family own about 30% of Enic Sports & Developments Holdings Ltd - which has an almost 87% stake in Tottenham.

Levy was the Premier League's longest-serving chairman and is estimated to have earned more than £50m during his almost quarter of a century in the role.

But he was also the target of regular protests by Spurs fans, especially last season as domestic league results proved disappointing.

The north London club won their first trophy in 16 years when they beat Manchester United in May's Europa League final.

Tottenham Hotspur are set to appoint Charlton academy manager Tom Pell into a leading position in their youth-set up.

Championship club Charlton last week confirmed that Pell would leave the club in December to take up a role at a Premier League side.

And BBC Sport understands Pell will join Spurs in the coming months where he will take up the role of head of academy operations and administration.

He will replace Danetta Powell, who is leaving Tottenham.

Pell was appointed as the Addicks' academy manager in May 2022, arriving from Cambridge where he spent 16 years.

Now, he will move across London to take up the senior position with Spurs' academy set-up.