Tottenham Hotspur owners turned down two suitors

[LONDON] Tottenham Hotspur said on Sunday (Sep 7) the family of billionaire Joe Lewis turned down two suitors that expressed interest in acquiring the London-based football club.

Tottenham said in a statement that the investment company through which the Lewis family controls the club received two expressions of interest: one from the investment fund controlled by former Newcastle United part-owner Amanda Staveley, and another from a consortium called Firehawk Holdings, which is led by Roger Kennedy and Wing-Fai Ng.

“Enic has no intention to accept any such offer to acquire its interest in the club,” Tottenham said, referring to the Lewis family’s investment company Enic Sports & Developments Holdings.

The sudden departure of longtime Tottenham executive chairman Daniel Levy last week sparked speculation that a takeover bid may be imminent. The club said on Thursday that there were no changes to its ownership or shareholder structure, however.

PCP International Finance, Staveley’s investment fund, issued a statement earlier on Sunday saying it does not intend to submit an offer.

The statement left the door open for a future offer, however, saying it could launch a bid if a suitor emerges for the football club or if PCP is invited to make an offer. Staveley declined to comment.

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Although Tottenham finished 17th in the Premier League last season and has not won a league title since the 1960-1961 season, the club is seen by some as one of the country’s top teams. Spurs secured a spot in the top-flight UEFA Champions League competition this season by winning the Europa League trophy over Manchester United in May.

Under Levy’s stewardship, the club has built itself a state-of-the-art stadium in north London that regularly stages music concerts, NFL games and boxing competitions. Tottenham was valued at about £3.5 billion (S$6 billion) by data firm Football Benchmark.

Bloomberg reported last year that Staveley was searching for her next football investment and had held initial talks with Rothschild, a Tottenham adviser, about acquiring a minority stake in the club. BLOOMBERG