Tottenham insist no Cain Hoy takeover talks

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Tottenham Hotspur Stadium
Dom Le Roy

Tottenham Hotspur have insisted once again that the club are not holding talks with any other parties, which includes Cain Hoy Enterprises.

A report in the Telegraph claimed that an approach to buy Spurs has been made by Cain Hoy, a private investment company, on behalf of a group of American businessmen.

Led by its London-born and based head of European investment, Jonathan Goldstein, Cain Hoy were believed to have communicated its interest in launching a takeover bid for Spurs, which the club have now moved to dismiss.

A statement on the official Spurs site read: “Tottenham Hotspur Limited (“THFC”) notes the continuing press reports surrounding a potential takeover and the announcement released by Cain Hoy Enterprises, LLC (“Cain Hoy”). THFC confirms it is not in takeover discussions with Cain Hoy or any other party.

“As stated in yesterday’s announcement regarding the new stadium project, THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy.

“The Club is focused on the new stadium development and the season ahead.”

This does indeed conflict a statement on the investegate.co.uk website which alludes to the fact Cain Hoy are at the preliminary stages of assessing a cash offer for Tottenham Hotspur.

A Cain Hoy statement said: “Cain Hoy Enterprises, LLC (“Cain Hoy”) notes the recent speculation in relation to a potential approach to Tottenham Hotspur Limited (“Tottenham Hotspur”).

“Cain Hoy confirms that it is at the preliminary stages of assessing a cash offer for Tottenham Hotspur. Cain Hoy’s considerations are at an early stage, and there can be no certainty that any offer will ultimately be made or at what price any offer might be made.

“In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the “Code”), Cain Hoy must, by not later than 5.00 p.m. on 10 October 2014, either announce a firm intention to make an offer for Tottenham Hotspur in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel (the “Panel”) in accordance with Rule 2.6(c) of the Code.

“This announcement has been made without the consent of Tottenham Hotspur. A further announcement will be made in due course.”

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