Spurs not for sale despite Staveley and consortium interest
Tottenham Hotspur is not for sale despite interest from Amanda Staveley, according to the Premier League side following questions over the club’s future.
A statement issued by the north London club was released to quell rumours of a takeover led by former Newcastle United co-owner Staveley and her PCP International Finance investment vehicle.
PCP International Finance this morning released a statement confirming it had been interested in a potential move for the club, managed by Thomas Frank, but said “it does not intend to make an offer for Tottenham”.
The firm reportedly held discussions with the UK takeover watchdog because the ownership future of Spurs is subject to the Takeover Panel’s UK Takeover Code given 13 per cent of the club is publicly listed.
The swirling rumours surrounding the club’s future came after veteran chairman, and part owner, Daniel Levy left the club after 24 years.
Levy owns 30 per cent of ENIC Sports and Developments Holdings Ltd, which itself owns 87 per cent of Spurs.
Tottenham Hotspur for sale?
The Tottenham Hotspur statement confirmed that they’d received two expressions of interest following Levy’s departure, from PCP International Finance and a consortium led by Dr. Roger Kennedy and Wing-Fai Ng through Firehawk Holdings.
“As a consequence of ENIC’s majority ownership interest in Tottenham Hotspur,” the statement added, “were any offer made to acquire ENIC and complete, a mandatory offer would be required under Rule 9 of the Code to acquire the shares of Tottenham Hotspur not already held by ENIC.
“The Board of the Club and ENIC confirm that Tottenham Hotspur is not for sale and ENIC has no intention to accept any such offer to acquire its interest in the Club.”
The two interested parties have until early October to declare a firm intention in purchasing the club, in accordance with the Takeover Code.
Staveley was key in the Saudi Arabian Public Investment Fund takeover of Newcastle United, while she was also involved in the purchase of Manchester City by Mansour bin Zayed Al Nahyan.