Phoenix Suns’ Billionaire Co-owner Prepares a Massive $3.7 Billion Bid for English Giants Tottenham Hotspur: REPORT

A couple of days back, reports emerged on how Elon Musk aims to take the reins at Manchester United. And now, another Iranian-American billionaire Jahm Najafi is preparing a stunning $3.75 billion bid to price away Joe Lewis and Daniel Levy’s most prized possession, Tottenham Hotspur. Owning the club since 2001, Lewis and Levy love their soccer club but now enter a race against time to hold off Najafi. 

According to the Financial Times, the co-owner of the NBA team Phoenix Suns and chair of MSP Sports Capital aims to get control of the Spurs. In fact, they are preparing a bid to approach the two owners. Najafi contacted various investors to arrange a formal bid to purchase the club. Several American billion tycoons are aiming to expand their business. And the English Premier League clubs remain on everyone’s wish list. 

Phoenix Suns co-owner looks to buy Tottenham Hotspur

The consortium value the club’s equity at around $3 billion. In addition, they would add about $750 million of debt to the club’s books. Reports emerged the MSP-led team would gather 70% of the purchase price. Likewise, the Middle east contingent would look to purchase the rest of the 30%. The vast funds available would help the club sustain its push to win major trophies. 

Lewis and Lewy bought a 26 percent stake in Tottenham from Lord Alan Sugar for $26.4 million in 2001. The club steadily rose to the top of the English Premier League. They held their position on their own and qualified for the Champions League. In addition, they reached the Champions League final in 2019, only to lose against Liverpool. 

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Despite that, the club has had no trophies since 2008. World-class managers like Jose Mourinho and Antonio Conte have not achieved this paramount goal and fans are naturally disappointed. With the sudden injection of cash, they can spend more, considering the shrewd investments the current owners make. 

Time to awaken the sleeping giant

There seems to be a trend where American billionaires are targeting English clubs. With proposals for the European Super League well underway, most English clubs are owned by Americans. Be it the Glazer family of Manchester United, Stan Kroenke’s Arsenal, and even  Todd Boehly’s purchase of Chelsea last year, they seem to get their sporting purchases right. 

Thus, the world is looking at the English Premier League as a possible hunting place. With the vast amount of riches available along with passionate fans, the English clubs are the breeding ground for success and wealth. To sum up, everyone wants a piece of these soccer clubs.

What do you make of Najafi’s bid? Will they be able to successfully negotiate the purchase of the club? Tell us your thoughts below. 

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