An American investment group is in the ‘preliminary stages’ of considering a bid for Tottenham Hotspur. The club’s potential is tied up with the redevelopment of White Hart Lane and it is thought that a bid is unlikely until progress is made on the stadium plans.
It is also questionable whether Cain Hoy would meet the near £1bn valuation of Spurs by owner Joe Lewis, a currency trader who has been Tottenham’s majority shareholder since 2001.
An American investment group is in the ‘preliminary stages’ of considering a bid for Tottenham Hotspur. The club’s potential is tied up with the redevelopment of White Hart Lane and it is thought that a bid is unlikely until progress is made on the stadium plans.
It is also questionable whether Cain Hoy would meet the near £1bn valuation of Spurs by owner Joe Lewis, a currency trader who has been Tottenham’s majority shareholder since 2001.
For their part Spurs issued a statement saying that there were no ongoing discussions with Cain Hoy. The club are thought to have originally spoken to them as part of their efforts to secure financing for the proposed £445m development of White Hart Lane. This led to the group contemplating an aggressive takeover bid.
Cain Hoy is a new fund established by former senior executives from Guggenheim Partners. It is named after a racehorse stable owned by the Guggenheim dynasty. In Europe, it is led by Jonathan Goldstein. He is a property lawyer who is a Spurs fan and know by the club hierarchy.
One of the American partners, Todd Boehly, holds a stake in the LA Dodgers after helping push through a record buyout of the baseball team, so sporting acquisitions are not unknown to them.
However, they have got off the ground in North London in Arsenal territory by agreeing to fund a £400m development in Islington which includes 360 flats, restaurants, offices, a health club and a cinema.
West Ham co-owner David Gold has ruled out Spurs sharing the Olympic Stadium when they have to spend a year away from White Hart Lane. However, no one thought that was a likely prospect anyway, despite its geographical and capacity advantages.
The rivalry between the two clubs for the stadium created ill feeling and in any case West Ham will be keen to establish it as their stadium. A ground share with Leyton Orient would not detract from their branding.