US tycoon Jahm Najafi set for $3.75bn Mega Takeover of Premier League club Tottenham Hotspurs: Reports
Jahm Najafi will reportedly launch a financial bid to takeover Spurs in the next few weeks.
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US Tycoon Jahm Najafi set to takeover Spurs. Image via Instagram
Iranian-American Billionaire Jahm Najafi is reportedly preparing a takeover of Premier League Giants Tottenham Hotspurs. He will launch a bid of $3.75bn in the next few weeks, according to sources close to the billionaire. The Chairman of MSP Sports Capital is working with a consortium of investors to prepare the blockbuster bid. Tottenham, who are currently 5th in the Premier League, are valued at $3.00bn, with an additional $750 million of debt in the club’s books.
The payment structure for the bid includes a 70 per cent amount from MSP, while the remaining 30 per cent will be put forward by backers from Abu Dhabi. Financial Times reported that Jahm Najafi will approach Spurs owner Joe Lewis and chairman Daniel Levy with the official bid in the coming few weeks.
The takeover of Tottenham Hotspurs, the North-London-based club would mean that the club will be financially ready to challenge the Premier League and other trophies. Spurs fans are frustrated due to the club’s lack of trophies in recent years. Fans also protested against the current regime due to their poor performances, as Spurs last won a major trophy in 2008. High-profile managers, including Jose Mourinho and Antonio Conte, failed to win any trophy during their time at the club either.
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Fans from all over the world welcomed and supported the idea of the takeover. The $3.75bn mega-takeover would see the end of the unpopular ownership of ENIC. The Bahamas-based billionaire Joe Lewis and chair Levy own 85 per cent of ENIC. They purchased 26 per cent of the shares from Lord Alan Sugar, back in 2000, for £21.9million.
Najafi is the latest US Billionaire who is set to join the legacy of English Premier League owners. Last year, US financier Todd Boehly and private equity group Clearlake Capital acquired Chelsea, for £2.5bn. Businessman Bill Foley also acquired Bournemouth for £120 million, with a group of investors.
Tottenham Hotspurs are an attractive proposition for investors, with reported revenue of £444 million generated in the year ending in June 2022. The club had an impressive £83 million hike from the previous year’s £361 million revenue. Najafi, until recently was a minor shareholder in the National Basketball Association’s Phoenix Suns. He will now compete in one of the biggest leagues in Football if he succeeds in taking over Spurs.
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Arpan Ghosh
(1403 Articles Published)