- Tottenham are reportedly in talks with MSP Sports Capital over investment
- The USA-based firm could take a 40 per cent stake in the club run by Daniel Levy
- Are Pep’s City the greatest the Premier League has seen? Listen to the It’s All Kicking Off podcast
Tottenham are reportedly holding talks with investment firm MSP Sports Capital, who could buy a 40 per cent stake in the club.
It comes after MSP pulled out of an exclusivity deal to buy a 25 per cent stake in Everton for £150million last August.
The American group bought into McLaren Racing in 2020 and five football clubs around Europe are in their portfolio.
Their portfolio includes Bundesliga side Augsburg, Portuguese club Estoril, Danish outfit Brondby, Belgians SK Beveren, and Alcorcon of Spain’s second tier.
The news of Tottenham’s talks with MSP has been revealed by journalist Paul O’Keefe.
He also claims that Spurs are talking to multiple groups over investment.
Tottenham’s majority owners are ENIC, who have a 86.58 per cent stake in the club. Allowing MSP 40 per cent would mean they still retain the majority.
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Chairman Daniel Levy has control of the club and owns a 29.88 per cent stake in ENIC with members of his family.
The complicated deal between MSP and Everton fell apart when an existing lender thought the deal would not see the club receive enough cash in return for equity.
Two thirds of the investment would have gone towards owner Farhad Moshiri’s subsidiary company Everton Stadium Development Co.
Bloomberg reported in May that MSP have revived their interest in investing in Everton.
The Toffees have confirmed that 777 Partners’ proposed takeover has collapsed, with Moshiri able to advance talks with fresh buyers for the club.
The club said they will ‘assess all options for future ownership’ after 777 missed a 5am deadline to provide funds to proceed with a sale and purchase agreement (SPA) for Moshiri’s 94.1 per cent stake.
British-Iranian businessman Moshiri was not minded to grant them an extension after already providing 777 an extra two weeks of wiggle room. He is now free to enter into discussions with other suitors.
Though the short-term future looks uncertain, fans will have breathed a sigh of relief when 777’s deal collapsed. The Miami-based firm has barely gone a week without negative headlines since the agreement was made with Moshiri.
Last month, the company was accused of fraud in a New York legal case. Two London-based asset management firms accused 777 of pledging £279m in collateral assets despite knowing that had been pledged to another lender – by law known as double-pledging – or did not exist.
In that case, co-founders Josh Wander and Steve Pasko were accused of ‘operating a giant shell game at best, and an outright Ponzi scheme at worst’. One of their other firms, an airline called Bonza, went into administration a fortnight ago and left passengers stranded in Australia.
Belgian club Standard Liege – owned by 777 – were forced to postpone a league game last month after protesting fans blocked the team coach from reaching the stadium. The 10-time Belgian champions are under transfer embargo for financial issues for which fans blame 777.