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Carlyle takeover, was Cain Hoy takeover

Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

So how is ownership of THFC divided? Levy has a personal stake iirc / any idea what percentage? Remember it being mooted last time around that he'd stay on as chairman if Lewis sold
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

So how is ownership of THFC divided? Levy has a personal stake iirc / any idea what percentage? Remember it being mooted last time around that he'd stay on as chairman if Lewis sold
We're owned by ENIC. 70% of the shares in ENIC are owned by Lewis, Levy has the other 30%. I am not aware if either of them owning a personal stake in Spurs.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

I don't see anything new in this story beyond an unlikely price tag. There have been reports for at least ten years that we are up for sale if someone offers over market price.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

Must have got it mixed up with their stakes in ENIC
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

The story doesn't seem to have any actual solid foundation. BUT, at some point Lewis is going to divest. The guy is 77; does he really want to be dealing with major investments in his 80s? My guess is at some point he'll cash out and set himself up a foundation or whatever it is that a billionaire like him wants to be remembered for. Wouldn't surprise me if he's already a couple of years past his notional cash-out date (thanks to the stadium delays and our yo-yoing around the Champions League).

Obviously this is pure speculation, but I'm just saying I wouldn't be surprised if Lewis becomes more active in trying to sell the club in the near future. That's nothing to do with ENIC wanting "a quick buck"... they've already owned the club for 14 years and while they've not poured cash into the club like the playboy owners, they've not exactly asset-stripped it either. And it's in a vastly better position now than it was when they took over - even with the Archway Steel delay. So if Lewis turned around and said - in his best Danny Glover voice - "I'm too old for this sh*t", I wouldn't be at all surprised.

But I would be very concerned at what comes next... I've been happy with Levy (unlike more than a few fans) and a change of owner / change of chairman can literally destroy a club if it goes wrong. It'll be a huge leap into the unknown when it happens.

Lewis' daughter Vivienne Silverton has gradually been taking over his other Tavistock roles in a Prince Charles kind of way. I've read before that she's quite interested in the club, so it seems probable she'll just take over as the silent partner.

The other thing is whether Levy has enough money from selling Blue Inc to buy-out Lewis' 70%, or at least another 21% to become the majority owner.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

So how is ownership of THFC divided? Levy has a personal stake iirc / any idea what percentage? Remember it being mooted last time around that he'd stay on as chairman if Lewis sold

Lewis 70%, Levy 30%
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

I want to sell my house. 50m.

Any takers? No.. ok then.

My local estate agent is advertising I want to sell my house to increase their business - I have told them I'm not moving - they keep printing the crap advert though

Although, £1b?!?!...... Any takers!?
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

Whatever ENIC want for us. We're not a PLC anymore, so there's no share price.

It should be fairly easy to come up with a rough "fair market value" for the club, but as you say, ENIC are unlikely to sell at anything like that amount.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

It should be fairly easy to come up with a rough "fair market value" for the club, but as you say, ENIC are unlikely to sell at anything like that amount.
I would think that the market price is probably around £400m now. I suspect that ENIC would probably ask for about 50% more which is probably closer to our value once the stadium is completed.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

Lewis' daughter Vivienne Silverton has gradually been taking over his other Tavistock roles in a Prince Charles kind of way. I've read before that she's quite interested in the club, so it seems probable she'll just take over as the silent partner.

The other thing is whether Levy has enough money from selling Blue Inc to buy-out Lewis' 70%, or at least another 21% to become the majority owner.

I met her last year and she seemed very keen about Spurs. She said we were in for Benteke in a big way until his signed a new contract. Nice lady.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

So how is ownership of THFC divided? Levy has a personal stake iirc / any idea what percentage? Remember it being mooted last time around that he'd stay on as chairman if Lewis sold

Others have covered how ENIC's shares are divided. But we shouldn't forget that ENIC don't, as yet, own 100% of THFC.

At last count, ENIC owned some 85-90% of THFC. The remainder is owned by a small number with relatively big shareholdings and by thousands of fans with very small shareholdings.

However, as per the announcement in March (as part of the financial report), ENIC has recently invested a further £40m in the club - initially a loan, I think, but eventually to be converted into equity. And, if that equity is in the form of shares with voting rights (I'm making the assumption that it will be), that would take their relevant shareholding through the 90% threshold. That having been done, ENIC would be able to enforce a compulsory purchase of all shares that they did not already own (known as a a squeeze-out), should they so choose.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

We're owned by ENIC. 70% of the shares in ENIC are owned by Lewis, Levy has the other 30%. I am not aware if either of them owning a personal stake in Spurs.

....so according to the story, this values Tottenham Hotspur at £1.42bn.

Given the ridiculous amount of money that can be milked via the club, from £50 replica tops to £80 Category A tickets, £200m naming rights... then it may well be the case. If you were willing to spare a lesser eye-watering amount into a lower placed club - lets say £100m into WBA - you could still make a healthy return, such is football.

Maybe Joe is a real fan who is just bored of waiting to see this stadium happen. Or maybe he can't wait to see the further multiplier to his profit that it would bring. Maybe he feels old. Maybe he wants or needs the capital for something else.

Whatever the case, I would expect if anyone offered him £1bn for Spurs he would be take it, whether looking for a buyer or not. I'd imagine the club, any club is permanently for sale. And you don't get the big yacht without being good selling stuff so if someone came in with a lesser but good offer he'd take it.

So the story is a complete non-story. Might as well have made the mild weather today headline news.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

I don't need to be an ITK or Mirror journalist to say that Man United is currently for the sale for £3 billion.
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

I would think that the market price is probably around £400m now. I suspect that ENIC would probably ask for about 50% more which is probably closer to our value once the stadium is completed.

I agree £600m seems a sensible estimate.


I met her last year and she seemed very keen about Spurs. She said we were in for Benteke in a big way until his signed a new contract. Nice lady.

It might well have been a previous post of yours I was casually referencing then.


Others have covered how ENIC's shares are divided. But we shouldn't forget that ENIC don't, as yet, own 100% of THFC.

At last count, ENIC owned some 85-90% of THFC. The remainder is owned by a small number with relatively big shareholdings and by thousands of fans with very small shareholdings.

However, as per the announcement in March (as part of the financial report), ENIC has recently invested a further £40m in the club - initially a loan, I think, but eventually to be converted into equity. And, if that equity is in the form of shares with voting rights (I'm making the assumption that it will be), that would take their relevant shareholding through the 90% threshold. That having been done, ENIC would be able to enforce a compulsory purchase of all shares that they did not already own (known as a a squeeze-out), should they so choose.

It was 85% before the last shares issues IIRC. I would guess it's closer to 90-95% now.

All the other professional shareholders are long gone. It is only the fans' Christmas presents from the 1980s and 90s that they've not bought up.

They can trigger a compulsory acquisition of these at any time, but there's no real reason to do so (no one is remotely close to requiring a seat on the board and they rarely pay dividends). They'll possibly compulsory purchase them when they do eventually sell the club (Bates did this in the days before selling up to Abramovich), but otherwise it would just be bad PR.


....so according to the story, this values Tottenham Hotspur at £1.42bn.

Given the ridiculous amount of money that can be milked via the club, from £50 replica tops to £80 Category A tickets, £200m naming rights... then it may well be the case. If you were willing to spare a lesser eye-watering amount into a lower placed club - lets say £100m into WBA - you could still make a healthy return, such is football.

Maybe Joe is a real fan who is just bored of waiting to see this stadium happen. Or maybe he can't wait to see the further multiplier to his profit that it would bring. Maybe he feels old. Maybe he wants or needs the capital for something else.

Whatever the case, I would expect if anyone offered him £1bn for Spurs he would be take it, whether looking for a buyer or not. I'd imagine the club, any club is permanently for sale. And you don't get the big yacht without being good selling stuff so if someone came in with a lesser but good offer he'd take it.

So the story is a complete non-story. Might as well have made the mild weather today headline news.

Saudi Sportswashing Machine are being sold for £200m - 1/3 of our value. That's what London and a global brand do for you.
 
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Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

only levy and lewis kno if we're selling.
not sure how that 1 bn number was conjured up, could be to ward off potential suitors !
 
Re: Back Page tomorrow Mirror - Lewis to sell 1 Billion Tottenham

A bit late in the year - July is usually the time for the annual 'the Arabs are coming' nonsense story.

15 years and people still spout the ENIC 'not in it for the long term' crap.

Do you think they are?
 
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