Tottenham rejects two takeover bids, insists club is 'not for sale'
Tottenham Hotspur has "unequivocally rejected" two separate expressions of interest in a majority takeover, with majority shareholder ENIC stating the club is not for sale. One of the bids came from a group involving former Newcastle co-owner Amanda Staveley, ending speculation about a potential change in ownership.
Tottenham Hotspur has confirmed it has "unequivocally rejected" two expressions of interest in a majority stake in the club. The club's majority shareholder, ENIC, has stated that Tottenham is not for sale and has no intention of accepting any offer to acquire its interest.
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One of the interested parties was PCP International, a group controlled by Amanda Staveley, the former joint owner of Newcastle United. The other expression of interest came from a consortium led by Dr. Roger Kennedy and Wing Fai-Ng through Firehawks Holdings Limited.
In a statement, the club's board and ENIC confirmed their position, putting an end to recent speculation. Sky Sports News had previously reported that Staveley was in discussions with potential backers for a bid. However, following the club's announcement and the departure of former chairman Daniel Levy, Staveley is expected to release her own statement today, confirming she does not intend to pursue a takeover.
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The two parties have until 5 p.m. on October 5 to either announce a formal offer or withdraw their interest. ENIC currently holds an 86.58% stake in the club, with the remaining 13.42% owned by minority investors. Due to these publicly traded shares, any offer for ENIC's stake would trigger a mandatory offer for all remaining shares, subject to the UK Takeover Code.
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Tottenham is one of the few major English clubs that has not changed hands in the past two decades. The club would be valued at up to £4 billion if it were to be sold. Last week, in the statement announcing Levy's exit after nearly 25 years, the club emphasized there would be "no changes to the ownership or shareholder structure."
