Tottenham Receive World-Record Takeover Bid
Tottenham Receive World-Record Takeover Bid
A US consortium – spearheaded by tech entrepreneur Brooklyn Earick – have launched a record-breaking takeover bid, worth £4.5 billion, for Premier League outfit Tottenham Hotspur. The stunning news comes after a dramatic change in Spurs’ personnel as Daniel Levy’s 25-year reign came to an end earlier in September.
Earick and his partners, which include 11 other people, are willing to cough up £3.3 billion to buy out the entire club, which would see owners ENIC and the Lewis family no longer involved in proceedings in north London. He has assembled NFL and NBA investors to back his vision to transform the 2024/25 Europa League winners.
The other £1.2 billion would be freed up for the “player budget” – which includes, but is not exclusive to, wages, fee and agent payment. Spurs boss Thomas Frank, who is widely regarded as one of the best managers in the world of football, will have access to said money when the doors of the January transfer window swing open.
Tottenham Subject to World-Record Takeover Bid
Earick’s “Tottenham 3.0” blueprint foresees Frank’s men transforming, by virtue of his consortium’s investment, from pretenders to contenders. The 41-year-old has also lined up a £250 million stadium rights deal and is understood to have already opened dialogue with the club’s higher-ups – including the aforementioned Levy – a few months ago. A source close to Earick told SunSport:
“Brooklyn and his team think everything is in place at Tottenham already. Spurs has a world class stadium and training ground, the infrastructure is all in place. But with the investment they are ready to make, it will be the final step to turn the club into winners on the pitch as well.”
Following Levy’s unforeseen exit from his role as chairman, talks have – according to The Sun – began to accelerate. The now-departed executive was seen as a hindrance to a sale as he wanted to remain at the top of the free irrespective of whether a deal was struck and rubber-stamped.
Since his departure earlier this month, ENIC and the Lewis family – who are widely regarded as one of the worst ownership groups in the Premier League – have held a firm stance: they are not looking to sell the north London outfit but are looking, instead, to enjoy success under their stewardship.
Forbes, however, value Spurs at £2.6 billion and Earick, a clever businessman who used to work at NASA, and his group are willing to pay 27 percent above value. The fact the club are listed on the New York Stock Exchange means any changes in ownership would need to be agreed under Takeover Panel Rules. As a result, from start to finish, a strict timetable would need to be followed.
Formerly a DJ, Earick is a colourful character and wants the deal to be completed and be given ratification from the Premier League chiefs by the start of this December. This, in turn, would allow him and his team to work their magic – alongside Frank and Co – in the winter transfer window.
Off the back of winning the Europa League, beating Manchester United 1-0 in the final, and replacing Ange Postecoglou with the ever-exciting Frank, there’s no better time for investors, and potential future owners, to get involved with the club.
The overall package of the earth-shattering takeover would break the record set by Todd Boehly and Clearlake Capital from when they bought Chelsea in 2022. The American businessman parted ways with a total of £4.25 billion to take over the Blues from Russian oligarch Roman Abramovich.