Cliff Notes – Tottenham ‘not for sale’ amid record £4.5bn takeover report
- Tottenham’s majority owners, ENIC, have “unequivocally rejected” a £4.5 billion takeover bid from a consortium led by Brooklyn Earick, stating the club is not for sale.
- This rejection follows previous refusals of interest from other parties, including Amanda Staveley’s PCP International Finance and a consortium led by Dr Roger Kennedy.
- ENIC, which owns 87% of Spurs, is reportedly open to external investment but remains committed to driving on-field success under new leadership.
Tottenham ‘not for sale’ amid record £4.5bn takeover report
An expression of interest to buy Tottenham by a consortium led by Brooklyn Earick has been “unequivocally rejected” by owners ENIC.
A report in The Sun on Thursday night stated American tech entrepreneur Earick was ready to launch an overall £4.5 billion ($6bn) takeover bid for the Premier League club.
Spurs’ majority owners ENIC, which is run by the Lewis family trust, earlier this month rejected expressions of interest from Amanda Staveley’s PCP International Finance and a consortium of investors led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.
A club statement at the time insisted “Tottenham Hotspur is not for sale” and a source close to the Lewis family reiterated that message on Thursday night to the PA news agency.
ENIC owns 87% of Spurs, but due to the remaining shares being publicly traded, the club is subjected to the UK Takeover Code. This means any expression of interest or bid must be lodged with the Takeover Code panel and made public.
On Friday, a statement by the board of Tottenham on London Stock Exchange read: “The club is aware of recent media speculation and confirms that its majority shareholder, ENIC Sports & Developments Holdings Ltd (“ENIC”), has received, and unequivocally rejected, an informal expression of interest in relation to a proposal to acquire the entire issued, and to be issued, share capital of the club from a consortium led by Mr Brooklyn Earick.
“The board of the club and ENIC reconfirm that Tottenham Hotspur is not for sale and ENIC is not looking to sell its stake in the club.”
Tottenham’s majority owners ENIC have said that the club is not for sale. Justin Setterfield/Getty Images
The Sun claimed Earick — who was involved earlier this year in a failed acquisition of Formula E team Maserati — was set to launch a £3.3bn takeover bid with a number of NFL and NBA investors, with a further £1.2bn set aside as transfer funds for new boss Thomas Frank.
If the overall £4.5bn package were successful, it would have exceeded Todd Boehly’s takeover of Chelsea for £4.25bn in 2022.
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The Lewis family trust earlier this month asked Daniel Levy to step down from his role as Tottenham chairman after 24 years due to a desire for the club to target “more wins, more often.”
Levy revealed last year the club were in talks with “prospective investors” over selling a minority share, although discussions involving Qatar Sports Investments were denied.
PA understands the Lewis family trust is open to external investment, but the main focus is on providing the required support to new non-executive chairman Peter Charrington, chief executive Vinai Venkatesham and head coach Frank, all whom have been appointed in 2025, to help deliver greater on-field success.
A source close to the Lewis family told PA: “This unsolicited and unnecessary interest does nothing to change the family’s resolve and commitment to do whatever it takes to drive success on the pitch. The club is not for sale.”