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Tottenham Hotspur: Daniel Levy sells majority of shares in Spurs owner ENIC

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Levy has sold the majority of his shares in the parent of Tottenham Hotspur

Daniel Levy has sold the majority of his shares in the parent company of Tottenham Hotspur to Eight Sports Capital.

The British Virgin Islands-registered firm has agreed to buy a 24.99 per cent stake in Spurs’ majority shareholder, ENIC Sports and Developments Holdings Limited, from the trustee of Daniel Levy’s family trust.

It leaves Levy, Spurs chief executive until his sudden ousting at the start of last season, with around four per cent of ENIC.

A spokesperson for Eight Sports Capital Limited said: “We are delighted to have signed this agreement to acquire a significant stake in ENIC.

“We look forward to working with the Club’s shareholders, management, staff, players and fans to support Tottenham Hotspur’s continued growth and success.”

Levy tenure coming to an end?

Levy was an unpopular co-owner of Tottenham Hotspur in his latter years, blamed for dwindling on-field performances in recent years despite the club winning the Europa League.

But he has been credited with turning Tottenham Hotspur into a Big Six behemoth with revenues of over £500m and a stadium with deals with the NFL and Formula 1.

Before the ENIC stake sale to Eight Sports Capital Limited the firm was split 70/30 between the Lewis family trust and Levy’s family share, with ENIC itself owning over 85 per cent of Tottenham Hotspur. The other 13 per cent is controlled by around 30,000 minority investors.

There have been a number of reports in recent months about the sale of the club entirely, but the Lewis family said after the Premier League season that Tottenham Hotspur as a whole was not for sale.

“We are not selling the club,” the family said at the time. “We are all in, we are investing in it. You will see more of this in the coming months.

“We care deeply about Spurs. The rebuild the club needs, and you deserve, has begun. The change required is deep. It will take time and commitment, but change is happening.

“We know that actions will speak louder than words.”

Levy is yet to confirm the deal.