US consortium launches £4.5 billion takeover bid for Tottenham Hotspur | OneFootball

A US consortium has launched a £4.5 billion takeover bid for Tottenham Hotspur, according to the Sun.

Tech entrepreneur Brooklyn Earick is heading a 12-man group that has lodged the offer to acquire the Tottenham Hotspur Stadium club.

Earick is offering £3.3bn to buy out the current Spurs owners – ENIC and the Lewis family.

The proposed new Tottenham owners are also ready to set aside a further £1.2bn for transfers.

Earick has also lined up a £250m stadium naming rights deal for Spurs, with the club currently without a sponsor for their ground since opening it in 2019.

The 41-year-old has assembled a consortium that includes NFL and NBA investors to back his vision for Tottenham.

Andrew Ashcroft recently purchased 8,023,942 shares in the North London club, which represents a 3.4% stake in Tottenham.

The price has not been disclosed but the shares are likely to have cost around £100 million based on recent valuations of Spurs.

Earick will be meeting that valuation with his offer but whether the majority owners of Tottenham will be open to selling remains to be seen.

ENIC owns 86.58% of Spurs, with former chairman Daniel Levy and his family owning 29.88% of those shares.

Spurs minority shareholders own the remaining 13.42% of the club between them, but Earick is only keen on the majority shares.

The former DJ, who also once worked for NASA, started initial discussions with the Spurs hierarchy – including Levy – some months ago.

Talks have accelerated since Levy left, and it is believed the former chairman was the impediment to a sale because of his desire to remain at the helm even in the event of a takeover.

Earick wants a takeover completed by December to allow him to splash the cash during the January transfer window and hit the ground running.

However, it could take months before everything is finalised if Spurs current majority owners agree to sell, and the fans will be hoping a takeover happens.