Finance expert Doctor Dan Plumley has claimed Daniel Levy will be worried that any potential cut-price sale of Chelsea could impact the valuation of Tottenham Hotspur.
Tottenham are now thought to be more for sale than they have ever been, with ENIC and Daniel Levy valuing the club at £3 billion – £2.3 billion for the shares, plus £700 million of debt (The Athletic).
Meanwhile, Roman Abramovich is set to be forced into a quickfire sale of Chelsea after the UK Government imposed sanctions related to Russia’s invasion of Ukraine (Football.London).
The Daily Mail reported last week that Levy is keeping a close eye on Chelsea’s sale and is worried that the eventual price could impact the future sale of Tottenham.
Plumley has now explained that valuing a football club accurately is difficult and that Chelsea being sold for around £2 billion could set the benchmark for other Premier League clubs going forward.
He added that there could be a knock-on effect from Chelsea’s sale that could impact the price of their London rivals in the future.
Plumley told Football Insider: “The problem is there is no real way to value a football club properly. We’ve done a lot of research around this. There is one model called the Markham Multivariate Model.
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“That’s the best we have at the moment, but it’s not an exact science. So with Spurs and Chelsea, you’re looking for a benchmark.
“For a prospective buyer, they’ll be looking at other recent sales. If Chelsea go for less than the asking price, people might apply that benchmark for Spurs.
“If you look at on-pitch success, Chelsea have been more dominant than Spurs for decades. If Chelsea goes for £2billion, is that the benchmark for Spurs?
“I think Levy is worried that if Chelsea are going to be undersold, they are probably going to feel a knock-on effect.”
Spurs Web Opinion
Plumley’s point is a reasonable one and the sale of another big London club will probably impact the price of Tottenham. However, it is worth remembering that Spurs have some assets, including the stadium and training ground, that could make the club much more lucrative for potential investors.
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