Spurs May Be Next Buyout Target - 04/02/2007

Tottenham Hotspur are being targeted as the next takeover target for private investors, sending shares soaring by 60 per cent in the past four months. Paul Kemsley, the Tottenham vice-chairman, is believed to be among the prospective buyers and has privately expressed an interest in purchasing the 32.7 per cent share held by Enic, the sports investment company that is the largest stakeholder in the club. It is possible to acquire a large stake easily in Tottenham because their shares are not diversely held. Sir Alan Sugar, the former chairman, has a 13 per cent stake through Amshold Limited, while Stelios Haji-Ioannou, the founder of easyJet, has a 9 per cent stake though Hodram Inc. Spurs have attracted a number of potential investors in recent years, but have been put off by an excessive valuation by chairman Daniel Levy.