Jahm Najafi, the Iranian-American billionaire who owns STX Entertainment, is reportedly preparing a $3.75B bid to acquire Premier League club Tottenham Hotspur.
The Financial Times reported on Wednesday that Najafi, chair MSP Sports Capital, is working with a consortium of investors with a view to approaching Spurs with a formal bid in the coming weeks.
The FT said the acquisition effort would value Tottenham at $3B, with $750M of debt being added to the club’s books. MSP will be responsible for 70% of the bid, while the remaining 30% will be put forward by backers in Abu Dhabi and elsewhere in the Middle East.
Deadline has approached MSP for comment.
Tottenham is currently owned by British billionaire Joe Lewis, with Daniel Levy serving as the team’s chairman. Spurs’ lack of trophies means there is unrest among supporters about the club’s ownership, with supporters actively chanting for Levy’s resignation during matches.
It remains to be seen whether Lewis’s ENIC Sports would be prepared to sell Spurs, while Levy has indicated that he would like to remain chairman even if the club does change ownership.
Tottenham has failed to win a major trophy since 2008, but has established itself among the so-called “big six” Premier League clubs and is a regular in the Champions League. It reached the final of Europe’s elite club football competition in 2019, losing to Liverpool.
Levy has helped regenerate Spurs off the field. The club boasts a state-of-the-art 63,000-seater stadium in north London, while its training facilities in Enfield are considered to be among the best in the world. Spurs reported revenues of £444M ($534M) in the year ended June 2022, up 23% from £361M the prior season.
Najafi took control of Hustlers studio STX for $173M last April. The Iranian-American businessman also has stakes in McLaren Racing, StubHub, the Mission Advancement SPAC with Colin Kaepernick, Tracee Ellis Ross’ Patten Beauty, and Scarlett Johansson’s skincare line.
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