Tottenham could be sold “by the end of the week”
Two buyers lined up for top flight’s worst performing club
No one needs to remind Spurs that their season-opening form is their worst in over half a century (although it’s quite funny to do so), but their strength on the pitch is far exceeded by their strength in the financial market: the club are said to be close to selling up to one of two buyers, who are interested taking over the profitable and successful business chairman Daniel Levy has created.
The club constantly deny a sale is on the cards, but today’s Guardian says a billionaire from the Far East could take the reins by the end of the week if a reasonable price is agreed and ‘super-agent’ Pini Zahavi can broker a deal.
BBC columnist Mihir Bose reports that Levy and the board believe an acceptable price would be around £400m, and that a British consortium is also in the running.
Joe Lewis, owner of 82 per cent of the club, lost around £400m when Bear Stearns went down the pan, and may be looking to recoup the loss by selling. He shouldn’t find the task as difficult as the one Mike Ashley faces, as Tottenham are in pretty good financial shape:
The club are about to announce very good set of results for the year ending in June. This could see profits climb to about £30m and turnover rise to £115m, with the increases due to Spurs’ Carling Cup victory and higher income from the new Sky-Setanta Premier League television deal. In addition, plans are well advanced for a new, redeveloped stadium at White Hart Lane.
Elsewhere, Keith Harris (the former Football League chairman rumoured to be touting a buyer for Manchester Utd) has been employed by Everton, who would ‘sell tomorrow’ if an interested party took advantage of their ‘open door policy’.
In the near future, it appears that Asia will hold much more of an interest in the Premier League than the blue side of Manchester.