It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent.

The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion. 

Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs. 

An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’s parent company. The THFC board and executive team remain fully focused on delivering the commitments we set out to fans at the end of the season.”

While sources at the club did acknowledge that Levy could have done a deal without their knowledge, the trustees would have to be notified of any actual sale and they are unaware of any such development. “It’s all very weird,” said a source close to ENIC.

Insiders have also reiterated that Levy’s stake comes with no seat on the board and no decision-making power. That contradicted claims made in a press release from the business communications firm Sodali, which read: “We are delighted to have signed this agreement to acquire a significant stake in ENIC. We look forward to working with the club’s shareholders, management, staff, players and fans to support Tottenham Hotspur’s continued growth and success.

“The parties have agreed that no further public comment will be made regarding the commercial terms of the transaction.”

It is understood the Premier League has not been notified of any agreement, however it would not technically need to be, as the deal Eight Sports Capital Ltd claims to have struck is for shares in ENIC — the investment company that owns Spurs — rather than the club itself.

I would be very cautious about any deal involving Taiwanese money given the fragile state of cross-straits relations and the risk of a Chinese blockade of Taiwan.