Iranian American billionaire Jahm Najafi, vice chairman and co-owner of the NBA team Phoenix Suns, is reportedly eyeing an ambitious takeover of Premier League club Tottenham Hotspurs.
Various sources from the UK report that the billionaire is leading a group of investors to take over the North London club. A bid of $3.75 billion is being prepared. MSP Sports Capital which Jahm is chairman of will provide 70% of the bid while various investors, many from Abu Dhabi will contribute the rest. MSP Sports Capital also has investments in several soccer clubs such as FC Augsburg in Germany, AD Alcorcón in Spain, G.D. Estoril Praia in Portugal, and S.K. Beveren in Belgium.
BREAKING: The Financial Times have reported that Iranian-American billionaire Jahm Najafi is preparing to make a £3.1bn bid to buy Tottenham Hotspur. pic.twitter.com/GUXKAd5aNf
— Sky Sports News (@SkySportsNews) February 15, 2023
The bid could be sent to Tottenham owner Joe Lewis and chairman Daniel Levy in a few weeks. However, Tottenham owner Joe Lewis thinks the club’s value is more than $4 billion so he will most likely reject the offer. Daniel Levy also wants to retain his position within the club if the takeover does go through. The location of the club and their new recently built state-of-the-art stadium make the club more valuable for any investors.
Spurs have had some good moments like the Champions League final in 2019 under Lewis’s ownership though with no major titles in recent years. They have also a reputation for spending less than their rivals which poses a major problem to winning trophies.
🚨While Tottenham Hotspur insist they are NOT for sale, and no offer has yet been made, the consortium led by Iranian-American billionaire Jahm Najafi is preparing a bid they BELIEVE can be successful.
👨🏻💻[@MiguelDelaney via @IndyFootball]#THFC | #COYS pic.twitter.com/WCpRKBHvph
— Last Word On Spurs (@LastWordOnSpurs) February 16, 2023
If Najafi gets the club, he could be expected to invest heavily to drastically improve the club and make them major challengers in England and Europe. Spurs fans will be definitely happy to hear this news as they have frequently been critical of Daniel Levy for not making enough transfers, not having ambitious plans, and mismanaging the club.
Najafi is a minority owner and vice chairman of the NBA team Phoenix Suns and McLaren’s F1 team. He is also a governor on the NBA board. Najafi is the owner of Najafi Companies which is an equity firm based in Phoenix. His net worth is around £2.9bn, though not confirmed.
Premier League’s financial power is attracting many investors around the world. Chelsea. Manchester City, Newcastle, and Bournemouth are proof of that. Manchester United and Liverpool are also edging to being taken over by new ownership. It seems the Premier League will be massively boosted in terms of financial spending and dominance in Europe.
