Daniel Levy confirms Tottenham in talks over selling stake in club

Tottenham chairman Daniel Levy has disclosed ongoing discussions with potential investors regarding the sale of a stake in the club, as revealed in the financial results for the year ending June 30, 2023.

Levy emphasized the necessity of new investment to realize the club’s long-term potential, highlighting the need for increased equity to support team investments and future capital projects.

Levy’s statement indicated talks with prospective investors facilitated by Rothschild & Co, focusing on acquiring a minority stake in the club.

While Tottenham has been subject to acquisition rumors, talks are reportedly centered on minority ownership, allowing Levy to retain control while potentially bolstering financial resources.

Despite prior discussions with various parties, including Paris Saint-Germain president Nasser Al-Khelaifi, interest from potential buyers has fluctuated.

Levy expressed a preference for retaining control, suggesting a minority stake sale could enhance spending capability while enabling his continued leadership.

Since assuming the chairmanship in 2001, Levy has managed the club’s finances prudently, although some supporters have lamented the club’s perceived inability to compete financially with wealthier counterparts in the transfer market.

Currently, investment company ENIC holds an 86.58% stake in Tottenham, with Levy and his family controlling a 29.88% interest in ENIC.

Notably, former owner Joe Lewis relinquished significant control in late 2022, coinciding with Levy’s exploration of stake sales.

Tottenham’s latest financial report showcased increased revenue surpassing £549.6 million, attributed to augmented commercial revenues, UEFA prize money, and TV and media revenues. However, losses amounted to £86.8 million, reflecting continued investment in the playing squad.

Levy underscored the club’s commitment to financial sustainability, acknowledging UEFA monies and stadium-related revenues as pivotal contributors to revenue growth.

He also highlighted the club’s ongoing compliance with Premier League Profit and Sustainability Rules (PSR) and expressed support for rule enhancements to ensure league competitiveness and sustainability.

Despite financial gains, operating expenses before football trading rose by 21%, mainly attributed to increased first-team costs, non-football event hosting, and uncontrollable cost escalations.

Levy concluded by accentuating the club’s focus on optimizing asset value, including the stadium and training campus, to sustainably invest in footballing success amidst rising costs and geopolitical uncertainties.

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