Tottenham board in discussions with prospective investors about selling stake in club
"Tottenham Hotspur are “in discussions with prospective investors" about selling a stake in the club, chairman Daniel Levy has confirmed.
In a statement accompanying Tottenham’s financial results for the year ending June 30 2023, Levy said: “To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base. The board and its advisors, Rothschild & Co, are in discussions with prospective investors. Any recommended investment proposal would require the support of the club’s shareholders."
Levy’s statement led to questions about whether Tottenham’s owners ENIC were about to sell up, but the club say the talks are over selling a stake, not a full-scale change of ownership."
*******************
Well, well, well! Since Joe Lewis is by far the major shareholder, he'll support what he wants to do! God only knows what is really the truth behind all this. Notice if you are a ticket holder paying "the price" that good old Daniel has raised his salary .......
**********
"Elsewhere in the report, news of the chairman Levy receiving a pay rise and a £3 million bonus has been very badly received by some sections of the fanbase, already furious at recent season ticket hikes.
Especially as that £3 million figure is roughly what Tottenham are expected to bring in from the six per cent increase of season tickets. Levy’s annual salary package of £6.6 million, including that bonus, means he remains the highest-paid Premier League club executive."
*************
YUP Spurs fans....all this is definitely worth a read, enjoy.......
https://theathletic.com/5387869/2024/04/03/tottenham-sale-owner-levy/
So The Time Has Finally Come!
posted on 4/4/24
We've been linked with investors for a while.
posted on 4/4/24
comment by Bãleș left boot (U22081)
posted 34 minutes ago
We've been linked with investors for a while.
----------------------------------------------------------------------
Why though? What difference does a cash injection make in an age where you have to be self-sustainable. I don't know why ENIC would need to sell to investors if that investment can't be legally used.
posted on 4/4/24
As I understand it, owners can offset spending by buying owner's shares. That's what the article's saying init?
posted on 4/4/24
But yeah, they can't just come in and chuck money at transfers
posted on 4/4/24
comment by Bãleș left boot (U22081)
posted 11 minutes ago
As I understand it, owners can offset spending by buying owner's shares. That's what the article's saying init?
----------------------------------------------------------------------
So this is more about ENIC getting money back for spending last summer or this coming summer. Still find it baffling if it's investor money.
posted on 4/4/24
comment by Bãleș left boot (U22081)
posted 18 minutes ago
But yeah, they can't just come in and chuck money at transfers
----------------------------------------------------------------------
Sir Jim has made £300m available for united as part of his deal over the course of two years. In theory this can be used to sign players, write off losses for PSR or used for capital to build a new stadium.
posted on 4/4/24
Sorry $300m*
posted on 4/4/24
Yeah that's right. He bought $300m in additional shares
posted on 4/4/24
The main beneficiary of any investment will always be ENIC.
Not sure if the $300m for liquidity is addional to the $1.3b paid to the Glazers.
posted on 4/4/24
That's how it reads to me
Sir Jim will provide a $300 million fund intended to enable future investment into the Club’s infrastructure at Old Trafford, comprising $200 million paid upon the closing of the transaction and a further $100 million by the end of 2024. Trawlers Limited will be issued additional Class A and Class B shares at $33.00 in respect of such investment.
https://www.nbcsports.com/soccer/news/reports-sir-jim-ratcliffes-25-percent-manchester-united-deal-to-be-confirmed#:~:text=Manchester%20United%20plc%20(NYSE%3A%20MANU,%24300%20million%20intended%20to%20enable