Ex-Premier League club owner predicts price ENIC and Levy would sell Spurs for
Simon Jordan has claimed that the reported takeover bid by Iranian-American billionaire Jahm Najafi is around £1 billion short of what Daniel Levy and ENIC would be looking for. The Financial Times reported on Wednesday that Najafi, who is chair of MSP Sports Capital, is working with a consortium to prepare the structure of a […]
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Simon Jordan has claimed that the reported takeover bid by Iranian-American billionaire Jahm Najafi is around £1 billion short of what Daniel Levy and ENIC would be looking for.
The Financial Times reported on Wednesday that Najafi, who is chair of MSP Sports Capital, is working with a consortium to prepare the structure of a huge bid to takeover Tottenham.
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The report revealed that Najafi and MSP would put forward 70 per cent of the capital while others, including backers from Abu Dhabi, would contribute the remaining 30 per cent.
It was further explained that the total bid of £3.1bn for the club is expected to consist of the club’s equity being valued at approximately £2.5bn, before adding about £610m of the club’s current debts.
Jordan believes that MSP Sports Capital would have to offer around £3bn without any debt for Levy and Joe Lewis to even consider starting negotiations.
When asked about the reported offer, the former Crystal Palace owner told talkSPORT: “This [bid] wouldn’t get them in the side door.
“I believe everybody has their price. I think there’s an underlying scenario with [Tottenham chairman] Daniel [Levy] that there’s more to do, lots more to do and this is the beginning of something, not the end of it.
“If somebody wants to come in and break their shoulders off with a ridiculous offer – I think £3bn is pretty propelling.
“I assume that £3bn minus any debt was going to be the position. I didn’t think they’d go for £3bn and have to pay off a debt they’ve got on the stadium so they’d walk out with £2bn. There is no traction in this.”
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Spurs fans who are hoping for a quick sale should not get their hopes up as Levy and Lewis will likely want to talk to many potential suitors as possible to get as close to their valuation as possible.
Levy also would not want the club to be saddled with even more debt (like Man Utd were when the Glazers took over the club) as that would risk undoing the good work he has done off the pitch to make the club one of the biggest economic forces in European football.
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