Is Tottenham Hotspur about to be sold?

As per latest reports, another Premier League Club is up for sale!

Iranian-American billionaire Jahm Najafi is preparing a bid to acquire Tottenham Hotspur for $3.75 billion.

Tottenham Hotspur is considered part of the “Big Six” group of Premier League clubs, which also includes Arsenal, Liverpool, Manchester City, and Manchester United.

These clubs regularly compete at the top of the table in the European Champions League. In the year ending June 2022, Spurs reported revenues of £444 million and a net loss of £50 million.

He is working with a group of investors to structure the deal and plans to approach the club’s owner, Joe Lewis, and its chairman, Daniel Levy, in the coming weeks.

The proposed bid would value the club’s equity at around $3 billion, with an additional $750 million in debt.

MSP Sports Capital, chaired by Najafi, would contribute 70% of the purchase price, with backers from the Gulf providing the remaining 30%.

If successful, the acquisition could mean increased spending for Spurs to challenge for more titles, as fans have grown increasingly frustrated by the club’s lack of trophies in recent years.

While ENIC, which is connected to owner Joe Lewis and chairman Daniel Levy, has been praised for its financial management and the construction of a new stadium, the club’s last major title was in 2008.

The proposed acquisition would also give the Najafi-led group access to real estate and development rights associated with the club’s ownership.

Since moving to a new stadium in 2019, Spurs have been able to host a range of events beyond football, reducing their reliance on ticket revenue from football matches.

As for the club, Spurs are now currently placed fifth in the Premier League.

The Enic Group holds a major stake in the club after owning 86.58% of the club. Daniel Levy is the current chairperson of the London Whites.

Najafi is the latest in a line of US billionaires seeking ownership of Premier League clubs.

In the past year, Chelsea was acquired by a consortium led by US financier Todd Boehly and private equity group Clearlake Capital, and businessman Bill Foley’s investor group acquired Bournemouth.

As global interest in the Premier League continues to rise, some longstanding owners have begun considering selling their clubs.

The US billionaire Glazer family, which has owned Manchester United since 2005, is exploring a sale of the club, while Fenway Sports Group, Liverpool Football Club’s US owners, have also said they are looking at a sale.

Najafi, who until recently was a minority shareholder in the NBA’s Phoenix Suns, is now poised to make a bid for Tottenham Hotspur.

If successful, the acquisition could mean a new era of spending and development for the North London club.