Tottenham could be up for sale as part of their new stadium move, it has been revealed.
The Guardian says Joe Lewis and Daniel Levy, the major shareholders in Tottenham Hotspur's parent company, Enic, are likely to be forced to commit more than £100m of their own cash in order to build the club's new stadium. That sum will fuel speculation that once full planning permission is achieved, the pair will instead cash in and sell the club.
Although a cost assessment of the stadium has yet to be conducted, it is expected to come in at more than £250m. Enic envisages a cash-raising exercise that will offer debentures to fans in return for season-ticket rights while generating funds from debt markets, all underpinned with a fresh share issue.
But having tested the market's appetite last month, Lewis and Levy know that would personally cost them huge sums. Far more profitable would be to sell their shares on the inevitable surge in price that will come when planning permission for the ground is achieved. If that happens, the 27.8m shares they picked up last month at 50p a pop would look fantastic value.