MSP Sports Capital is interested in another Premier League team.
Jahm Najafi, chair of MSP Sports Capital and Phoenix Suns co-owner, is reportedly set to launch a $3.75 billion takeover bid for Tottenham Hotspur. Last month, MSP reportedly held preliminary discussions for a minority stake in Everton.
The takeover would value the Premier League club at $3 billion and add $750 million in debt to the team’s books. Forbes last valued Tottenham — which reported $534 million in revenue in the fiscal year ending June 2022 — at $2.35 billion.
The Financial Times reported that Najafi is working with a consortium of investors to present a formal bid in the coming weeks.
- MSP would put forward 70% of the bid.
- Investors from the Gulf, mainly from Abu Dhabi, would take care of the other 30%.
MSP already has stakes in the X Games, McLaren Racing, and several other soccer teams including Portugal’s Estoril Praia, Spain’s AD Alcorcon, Belgium’s SK Beveren, and Germany’s FC Augsburg.
ENIC Group, which is owned by British billionaire Joe Lewis, purchased a stake in Tottenham in 2000. Businessman Daniel Levy serves as the club’s chairman and has reportedly indicated he wouldn’t like to stay on if new ownership comes in.
Fans have criticized the club’s current ownership over on-the-field performance.