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Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club.

Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale.

Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium.

The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to deploy on football club deals. The club is also likely to attract interest from American investors.

The development of its 62,850-capacity stadium has greatly enhanced Tottenham’s attractiveness to potential investors. As well as bringing in annual gate receipts of £117 million, the ground has hosted concerts by several top music stars including Beyoncé and Travis Scott, as well as NFL matches.

The stadium’s development has saddled the club with £851 million of debt, albeit mostly fixed at rates of 2.79 per cent.

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