Tuesday, April 23, 2024
HomePremier LeagueAnother Premier League takeover? Billionaire to bid $3.75bn to buy Spurs

Another Premier League takeover? Billionaire to bid $3.75bn to buy Spurs

Tottenham are set to be subject of a $3.75bn takeover bid from Iranian-American billionaire Jahm Najafi.

Najafi is understood to be working with a consortium ahead of his offer for Spurs, as he looks to make a suitable bid to current owner Joe Lewis and the club’s chairman Daniel Levy.

 

The 60-year-old – who is the chair of MSP Sports Capital – was previously a partial owner of the Phoenix Suns NBA team and according to the Financial Times is looking to move into football with an approach for Spurs.

According to the report, Najafi would value the club’s equity at approximately $3bn (£2.48b) before adding about $750m (£621m) of debt on the club’s books. The proposal would see Najafi’s consortium front 70% of the purchase price, with the remaining 30% made up by investors from Abu Dhabi and the Gulf.

Spurs are an attractive option for potential investors, given the club’s state-of-the-art facilities and recent record of consistent European football. However, the club’s fanbase have been critical of the ownership given a lack of silverware.

The north Londoners are the latest Premier League side to find themselves subject of takeover speculation, with Manchester United having set a Friday deadline for proposals after the Glazer family announced their intention to sell the club in November.

Liverpool’s owners, Fenway Sports Group, are also seeking investment into the club, while Chelsea and Bournemouth have been taken over by US-based investors in the last 12 months.

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