jonathanhotspur
Loose Cannon
- Jun 28, 2009
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Tottenham face fresh takeover bid as wealthy USA consortium seeks talks with Daniel Levy
TOM COLLOMOSSE
Tottenham are facing a new takeover bid — this time from another American consortium backed by one of the world’s biggest finance companies.
Standard Sport can reveal a group of wealthy American businessmen, based in California, want to meet chairman Daniel Levy in New York.
The group has secured backing from global private equity investor The Carlyle Group — which once included former Conservative Prime Minister John Major as chairman of the company’s European wing from 2001-04.
The American consortium would favour keeping Levy in position if a takeover were successful. Owner Joe Lewis values Spurs at $1billion (£628m) and even though he may accept around £502m it is believed the Americans are some way off.
This is not the first time Spurs have been linked to a US takeover. In September, investment firm Cain Hoy expressed an interest in buying the club before withdrawing.
There is little doubt any prospective bidders face a long haul. Not only will they have to fight off interest from other potential purchasers, they will also have to find a way through the increasingly-complicated ground redevelopment project Spurs are committed to. While the club would welcome a new owner willing to help fund the £400m project, it is not quite as simple as that.
Integral to the new ground development is an entire regeneration of the surrounding area — with a complete overhaul of the local infrastructure, housing and community facilities.
That regeneration is of particular interest to Mayor Boris Johnson, who is keeping a close eye on prospective new owners to understand their level of dedication to that wider project.
Any new owner would have to work side by side with the redevelopment proposals.
Contrary to popular belief, Spurs have not yet fully cleared all the planning hurdles in front of building a new ground. A local metalwork company is still refusing to budge from its premises right in the middle of the club’s new site and is appealing a compulsory purchase order in the High Court. It remains unclear whether there will be further planning complications.
An insider said: “The Americans want to keep Mr Levy on board, which appeals enormously. It’s hard to ignore backers who are supported by Carlyle — but we still have to see what they are prepared to offer.”
However, Spurs are adamant they have received no contact about a possible takeover approach.
TOM COLLOMOSSE
Tottenham are facing a new takeover bid — this time from another American consortium backed by one of the world’s biggest finance companies.
Standard Sport can reveal a group of wealthy American businessmen, based in California, want to meet chairman Daniel Levy in New York.
The group has secured backing from global private equity investor The Carlyle Group — which once included former Conservative Prime Minister John Major as chairman of the company’s European wing from 2001-04.
The American consortium would favour keeping Levy in position if a takeover were successful. Owner Joe Lewis values Spurs at $1billion (£628m) and even though he may accept around £502m it is believed the Americans are some way off.
This is not the first time Spurs have been linked to a US takeover. In September, investment firm Cain Hoy expressed an interest in buying the club before withdrawing.
There is little doubt any prospective bidders face a long haul. Not only will they have to fight off interest from other potential purchasers, they will also have to find a way through the increasingly-complicated ground redevelopment project Spurs are committed to. While the club would welcome a new owner willing to help fund the £400m project, it is not quite as simple as that.
Integral to the new ground development is an entire regeneration of the surrounding area — with a complete overhaul of the local infrastructure, housing and community facilities.
That regeneration is of particular interest to Mayor Boris Johnson, who is keeping a close eye on prospective new owners to understand their level of dedication to that wider project.
Any new owner would have to work side by side with the redevelopment proposals.
Contrary to popular belief, Spurs have not yet fully cleared all the planning hurdles in front of building a new ground. A local metalwork company is still refusing to budge from its premises right in the middle of the club’s new site and is appealing a compulsory purchase order in the High Court. It remains unclear whether there will be further planning complications.
An insider said: “The Americans want to keep Mr Levy on board, which appeals enormously. It’s hard to ignore backers who are supported by Carlyle — but we still have to see what they are prepared to offer.”
However, Spurs are adamant they have received no contact about a possible takeover approach.
