Information about the possible acquisition of Tottenham Hotspur
Tottenham Hotspur Takeover Bids Rejected, Club Not for Sale
In a recent development, two takeover proposals for Tottenham Hotspur have been rejected, including one from a former owner of Newcastle United. The current majority shareholders of Tottenham Hotspur, ENIC, have unequivocally rejected these proposals and have confirmed that the club is not for sale.
The rejections come from proposals submitted by PCP International, a Jersey-based company represented by Amanda Staveley, and Firehawk Holdings Limited, part of an American consortium. PCP International represents a consortium of ten different investors from Asia, Europe, and North America, but there is no Gulf money involved. Firehawk Holdings Limited, on the other hand, is part of a successful American consortium that has found success via the video-sharing social networking service, Triller.
Under the 'Takeover Code', PCP cannot make another offer for the club for six months. Meanwhile, ENIC, the current majority shareholders of Tottenham Hotspur, have received preliminary expressions of interest in proposals to acquire the entire share capital of the club. Any offer made to acquire ENIC would require a mandatory offer under Rule 9 of the Code to acquire the shares of Tottenham Hotspur not already held by ENIC.
The Board of Tottenham Hotspur and ENIC have confirmed that the club is not for sale and ENIC has no intention to accept any such offer to acquire its interest in the club. This decision comes as no surprise, as the club's sporting success remains the aim for Frank and his side, as well as the women's team.
Martin Ho has been appointed as the new head coach for Tottenham's women's team, and Peter Charrington joined Tottenham's board earlier this year and has stepped into the newly created role of Non-Executive Chairman. Daniel Levy will remain a shareholder of ENIC, but will cease to have any direct involvement with the club. His recent exit from the club does not affect his status as a shareholder, unless further changes are made regarding the ownership structure of the club.
Dr. Roger Kennedy and Wing-Fai Ng are part of the consortium that has submitted proposals to acquire ENIC's interest in Tottenham Hotspur through Firehawk Holdings Limited. A game of cat and mouse is likely to ensue between PCP and Firehawk Holdings, as they both consider their next moves. It remains to be seen if ENIC will invite Staveley and her consortium back to the table to negotiate, or if the six-month window will be set aside if another formal bid is submitted.
In conclusion, while two takeover bids have been rejected for Tottenham Hotspur, the club remains in the hands of ENIC, and there are no plans to sell the club at this time. The focus for the club remains on sporting success and the continued development of the team and the women's team.
