American fund eyes up Spurs as speculation grows over possible takeover
Thursday, 18th September 2014
Published: 18 September, 2014
by DAN CARRIER
SPECULATION about a take over of Tottenham Hotspur reached new levels this week after the club wrote to every shareholder, saying an American investment fund called Cain Hoy were in the “preliminary stages” of putting together a cash offer for the club.
The letter included a statement from Spurs saying they are not in any discussions with any one regarding selling the club, and Cain Hoy made the announcement of their potential bid without the permission of Spurs.
The letter adds that Spurs had been in discussion with numerous “providers of finance” to help build the new £400million stadium known as the Northumberland Park project, and had met representatives of Cain Hoy. But added there were no ongoing meetings with the firm and a sale was never on the agenda.
The statement said: “THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy.
“The club is focused on the new stadium development and the season ahead.”
This follows on from reports by fans of mysterious phone calls small shareholders have received in the past month from a man saying he represents a large American investor and is interested in buying 51 per cent of the club.
Last week it was suggested owner Joe Lewis – who bought the club for £25million in 2001 from the then owner Alan Sugar – would take offers of around £1billion for Spurs. Enic (his investment vehicle) previously owned Glasgow Rangers and have long been considered as a business interested in profit and loss and not football philanthropists running a club for the love of the game.
Spurs also revealed that due to high court action by a firm of steel panel manufacturers who own a small slice of land next to White Hart Lane, they will have to play away from Tottenham for a year and are unlikely to move into a new ground until the start of the 2018 season.
