Tottenham could be up for
sale as part of their new stadium move, it has been revealed.
The Guardian says Joe Lewis and Daniel Levy, the major
shareholders in Tottenham
Hotspur's parent company, Enic, are likely to be forced to
commit more than £100m of their own cash in order to build the
club's new stadium. That sum will fuel speculation that
once full planning permission is achieved, the pair will instead
cash in and sell the club.
Although a cost assessment of the stadium has yet to be
conducted, it is expected to come in at more than £250m. Enic
envisages a cash-raising exercise that will offer debentures to
fans in return for season-ticket rights while generating funds from
debt markets, all underpinned with a fresh share issue.
But having tested the market's appetite last month, Lewis and
Levy know that would personally cost them huge sums. Far more
profitable would be to sell their shares on the inevitable surge in
price that will come when planning permission for the ground is
achieved. If that happens, the 27.8m shares they picked up last
month at 50p a pop would look fantastic value.