- Jan 6, 2013
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http://www.telegraph.co.uk/sport/fo...mpany-as-Americans-eye-possible-takeover.html
Tottenham Hotspur targeted by private investment company as Americans eye possible takeover
Spurs claim they are not for sale, but have been subjected to a preliminary approach over potential buy-out
Tottenham Hotspur have received a preliminary approach from a private investment company, Cain Hoy, to buy the club on behalf of a group of American businessmen.
Led by its London-born and based head of European investment, Jonathan Goldstein, Cain Hoy is believed to have communicated its interest in launching a takeover bid for Spurs.
Tottenham have claimed they are not up for sale and that they are not in any formal takeover talks, but it is believed owner Joe Lewis values the club, together with the new stadium development, at just under £1 billion.
The exact number of investors and the names of the US group are being kept under wraps, but American entrepreneur and private equity investor Henry Silverman is chief executive of Cain Hoy.
Both 48-year-old Goldstein and 74-year-old Silverman are former employees of Guggenheim Partners. In his former role as vice-chairman of asset management at Guggenheim, Silverman helped to appoint Goldstein as head of real estate and direct investment in Europe in January.
Cain Hoy Enterprises was formed with the support of – and a minority, non-controlling investment from – Guggenheim. But Guggenheim is not behind the approach to buy Tottenham and both Goldstein and Silverman are understood to have left the company.
Although it is 77-year-old Lewis who owns Spurs, several sources have told Telegraph Sport that interested parties in a takeover are being informed they will have to deal with chairman Daniel Levy.
Lewis made a rare visit to White Hart Lane for the 3-0 defeat to Liverpool at the end of August and sat next to Levy in the stands.
Levy would be keen to stay on as part of any takeover, but executive director Darren Eales is leaving Spurs later this year to become club president of the new Major League Soccer Atlanta franchise.
It is not known how much Cain Hoy is willing to spend on Tottenham or whether it would be prepared to keep Levy on. But the fact the company focuses on global real estate, retail, media and entertainment highlights why it is interested in Spurs.
Despite a new legal challenge and delay, Tottenham remain confident that the club will move into a new 56,250 stadium in 2018. The latest wrangle with Archway Sheet Metal Works Ltd and the Josif family should be settled financially and is not thought to be an obstacle for any potential new owners.
Other than the stadium, Tottenham’s Northumberland Development Project plans include the redevelopment of the High Road, 275 new homes, a Sainsbury’s supermarket with parking and club offices above, a primary school, new offices for the Tottenham Foundation, a club megastore and museum, and a university technical college.
US investors have been drawn to the Premier League in increasing numbers over recent years and growing interest in America was highlighted by NBC Universal’s £157 million television rights deal, which started last season.
During its first season of screening the Premier League, NBC made all 380 games available. Highlights were shown and matches were previewed on Sundays during live coverage of the NFL.
A takeover would be welcomed by a large number of Tottenham fans, who have grown frustrated with Levy’s football decisions and negotiations, and the delays to the new stadium.