Two billionaires who have failed with bids to buy Tottenham Hotspur from ENIC are now discussing teaming up to make a new move that involves Daniel Levy.
According to reports over recent days, the recently ousted former Tottenham chairman, Daniel Levy, is in talks with Hong Kong businessman Ng Wing-Fai over selling his stake in ENIC for a fee approaching £1 billion.
This is after the club’s majority owners, ENIC, rejected multiple expressions of interest in taking over Tottenham over the last few months.
That reportedly included a £4.5 billion attempt to purchase Spurs by a consortium headed by Brooklyn Earick, and the former DJ turned entrepreneur could now make another move.
Brooklyn Earick and Ng Wing-Fai could team up to buy into Tottenham
The Sun have now revealed that Wing-Fai’s interest has also previously been turned down by the Lewis family, who own the majority of ENIC.
The report says that Wing-Fai and Earick could now join forces to buy Levy’s 29.9 per cent stake in ENIC, who own 86.58 per cent of Spurs.
However, it is explained that under the Takeover Panel rules, both businessmen are prevented from “making a bid or taking steps towards a takeover” for a period of six months after withdrawing their earlier bids.
That means that neither party can purchase Levy’s share until March 6, but the two businessmen remain in contact over forming a concert party ahead of a future offer.
Wing-Fai wants to add a Spurs purchase clause
The Sun say that the Hong Kong-based businessman wants to add a ‘relegation clause’ in any offer to buy Levy’s shares of ENIC, which would reduce the value of the deal should Tottenham go down.
However, that is something that Levy may reject. The report adds that representatives of ENIC have indicated that they are not aware of any potential agreement between Levy and potential buyers.
This comes on the back of a recent update by Football Insider, which claimed that the Lewis family would consider buying Levy’s shares in ENIC if the former Tottenham chairman does not find a buyer who is deemed ‘suitable’ by the club’s majority owners.