Iranian-American billionaire Jahm Najafi is preparing a huge $3.75 billion takeover bid for Premier League side Tottenham Hotspur.
Najafi is currently the chair of MSP Sports Capital and is working alongside a consortium of investors in order to structure a deal to buy Spurs.
According to the Financial Times, two people with direct knowledge of the plans have claimed that Najafi and his investors are structuring their plans with a bid is expected to be presented to current owner Joe Lewis and chairman Daniel Levy within weeks.
It has been reported that Najafi and MSP will value the club’s equity at around $3 billion, and will add approximately $750 million of debt on the club’s books.
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The structure of the bid will mean MSP and partners will bring forward 70 per cent of the price, whilst backers from the Gulf, most primarily from Abu Dhabi, will put in 30 per cent.
A potential takeover could lead to Spurs having the ability to spend more freely in order to challenge the likes of Manchester City and Arsenal at the top of the Premier League.
Current owner Lewis and chairman Levy have been praised for their financial management since buying into the club back in 2000.
However, fans are getting increasingly frustrated at the lack of trophies despite having some of the best players in the world including the likes of Harry Kane and Heung Min Son.
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Big-name managers such as Jose Mourinho and current boss Antonio Conte have tried and so far failed to bring glory back to the club.
Spurs’ last trophy came via the League Cup in 2008, whilst their last appearance in a final was in the 2019 Champions League, where they lost to fellow Premier League side Liverpool.
Najafi is bidding to become the latest US billionaire to join the list of Premier League club owners after a Todd Boehly-led consortium bought Chelsea last year whilst businessman Bill Foley recently purchased Bournemouth for £120 million.
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Until recently, Najafi was a minority shareholder in the NBA side Phoenix Suns.
Topics: Tottenham Hotspur, Premier League, Football
Marcus Chan