Tuesday, December 04, 2007

Takeover rumours resurface

Once again there are rumours surfacing that ENIC is going to sell up, reportedly valuing the club at £400 million. If yesterday's Daily Mirror is to be believed it sounds like there could be two foreign consortia bidding for the club, and an official announcement could be given to the London Stock Exchange within the next fortnight.

"Oil tycoon Vagit Alekperov, 57, born in Azerbaijan and president of Russian oil company Lukoil, is believed to be keen and has the resources as he is rated by Forbes magazine as the 48th richest man in the world with an £8billion fortune. A Far Eastern consortium is also keen while ex-vice chairman Paul Kemsley has been linked with a return after resigning from the football club's board.

But Mirror Sport understands that Tottenham are now braced for a full takeover bid and Levy could be tempted to sell to allow huge foreign investment to be ploughed into the club.

City experts value the club at £400m and Spurs' financial position is strong despite a disappointing start to the season. Tottenham announced last week a turnover of £103.1m and operating profit of £32m, which were both records. The club is also believed to have bought up property near the ground to allow White Hart Lane to be expanded from 36,000 seats to 52,000."

Although Spurs are officially not commenting on the stories, I don't believe there's smoke without fire. There have been rumours about Levy wanting to sell for months now. I guess on the one hand it is encouraging that we're being seen as a good investment, although too many foreign investors might not be good for the Premier League.

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