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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