Tottenham takeover: Phoenix Suns part-owner Jahm Najafi to launch $3.75bn bid

Tottenham takeover: Phoenix Suns part-owner Jahm Najafi to launch $3.75bn bid post thumbnail image

Tottenham Hotspur are set to receive a takeover bid worth $3.75bn from Iranian-American billionaire Jahm Najafi.

Spurs are currently owned by investment company ENIC and chaired by Daniel Levy, who have received criticism from corners of the fanbase long throughout their tenure for a supposed lack of investment.

There are a number of parties interested in buying Tottenham and there is outside belief ENIC could now be tempted into a sale.

The Financial Times report Najafi is currently building a consortium in order to lodge a bid for the club, and an offer could be tabled to ENIC and Levy in the coming weeks.

They add Najafi values Spurs’ equity at roughly $3bn and he would add $750m of debt onto their books. His consortium would contribute 70% of the bid with backers from the Middle East providing the other 30%.

Najafi is a minority owner of the Phoenix Suns NBA franchise. He recently called on previous majority owner Robert Sarver to resign and sell the team amid several allegations of workplace misconduct.

Sarver sold the Suns to an ownership group led by mortgage lender Mat Ishbia, with Najafi remaining one of their minority shareholders.

Source: Financial Times

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