Tottenham Hotspur owner rejects takeover interest, insists club not for sale

LONDON – Tottenham Hotspur said its majority shareholder has received and rejected two preliminary expressions of interest for a possible takeover and insists the English Premier League club is not for sale.

Speculation about a possible change of ownership has increased since executive chairman Daniel Levy stepped down after almost 25 years in the post on Sept 4.

A club statement late on Sept 7 said Enic Sports and Developments Holdings had unequivocally rejected two separate preliminary expressions on interest, one from former Newcastle United shareholder Amanda Staveley's PCP International Finance and another from a consortium led by Roger Kennedy and Ng Wing Fai through Firehawk Holdings.

Enic owns 86.5 per cent of the club’s shares.

“As a consequence of Enic’s majority ownership interest in Tottenham Hotspur, were any offer made to acquire Enic and complete, a mandatory offer would be required under Rule 9 of the (UK Takeover) Code to acquire the shares of Tottenham Hotspur not already held by Enic,” the statement said.

“The board of the club and Enic confirm that Tottenham Hotspur is not for sale and Enic has no intention to accept any such offer to acquire its interest in the club.

“In accordance with Rule 2.6(a) of the code, each of PCP and the consortium is separately required, by not later than 5pm on Oct 5, 2025, to either announce a firm intention to make an offer for the company in accordance with Rule 2.7 of the code or announce that it does not intend to make an offer for the company, in which case their respective announcements will be treated as a statement to which Rule 2.8 of the Code applies.”

PCP International Finance issued a statement earlier on Sept 7 saying it does not intend to submit an offer. 

The statement left the door open for a future offer, however, saying it could launch a bid if a suitor emerges for the football club or if PCP is invited to make an offer. Staveley declined to comment. 

The majority of Enic is owned by British businessman Joe Lewis and his family, who also own the Tavistock Group, a private equity company.

In April, Tottenham named former Arsenal executive Vinai Venkatesham as their new chief executive, while Peter Charrington became the non-executive chairman, a newly formed role, following Levy’s exit.

Announcing Levy’s departure, Tottenham said there would be “no changes to the ownership or shareholder structure”.

But the 63-year-old was a polarising figure among Tottenham fans, with numerous protests against him during difficult spells for the team.

Levy, who was the longest-serving chairman in the Premier League, had come under fire more than ever over the last few seasons.

A series of failed managerial appointments and the club’s transfer policy infuriated supporters and turned up the heat on Levy, who was accused of caring more about the club’s financial profits than success on the pitch.
REUTERS, BLOOMBERG, AFP