Daniel Levy increases Tottenham asking price to £1.2bn (six times the price of Everton)
Daniel Levy has increased his Tottenham Hotspur asking price despite the club finishing another season without a trophy and missing out on Champions League qualification.
Spurs chairman Levy is understood to value Tottenham at £800million, without factoring in the cost of the new stadium. That means the total package for prospective buyers would cost a staggering £1.2billion.
Private investment firm Cain Hoy made an approach to take over Spurs last September, but could not agree a deal with Levy who valued the club, plus the new stadium, at just under £1bn at the time.
Since then, the Premier League have secured a record £5.14bn television rights deal, which starts next year, and Levy has been given the green light to start work on Tottenham’s new stadium that could also host an NFL London franchise.
Given Spurs will not play in the Champions League and have only won one trophy, the 2008 League Cup, Levy’s asking price appears to be extremely high. FA Cup finalists Aston Villa are on the market for £150m, while it is believed Newcastle and Everton are valued at around £200m.
Levy has insisted on several occasions that Tottenham is not for sale, despite the fact a number of different parties have shown an interest in buying the club over the past two years.
Spurs fans are divided in their opinion of Levy. Some see him as a tough negotiator who has made Tottenham millions and transformed the club into regular top-six finishers. Others blame him for the high turnover of managers and failure to consistently break into the top four or win silverware.
A final-day victory over Everton meant that Tottenham finished the season in fifth place in the Premier League table, which is viewed as a good achievement inside the club because of the transition the club have been going through under head coach Mauricio Pochettino.
The win at Everton effectively pocketed Spurs and extra £2.5m in Premier League prize money. Fifth place netted the White Hart Lane club £19.8m, while seventh would have been worth £17.3m.
But Levy is currently refusing to put that money towards getting unwanted striker Emmanuel Adebayor out of the club.
Adebayor is currently on compassionate leave to try to sort out family issues that he has made public on Facebook, but Levy wants a £5m transfer fee for the 31-year-old.
It would cost Spurs around £5m to pay up the final year of Adebayor’s contract and let him leave on a free transfer, but Levy is trying to find buyers before contemplating that course of action.
Adebayor is not part of the Tottenham squad that has travelled to Malaysia and Sydney for the club’s post-season tour.
The game against a Malaysian XI has been hit by a fan group’s protest that resulted in only 19,000 tickets sold ahead Wednesday’s game, despite the Shah Alam Stadium being able to hold 80,000.
There was still hope on Tuesday night that up to 30,000 fans would eventually attend the game, but the Ultras Malaya labelled the visit of Spurs and Liverpool, on July 24, as “circus matches” and are angry at the disruption caused to the domestic league and the country’s World Cup qualifying preparations. The group urged fans to rip up free tickets and encouraged people to boycott the matches.
ProEvents Group chief executive officer Julian Kam said: “I hope we will reach 30,000. It will be a very entertaining game for the fans to enjoy the moments.”
A less-than-half-full stadium would be an unusual sight for English clubs travelling to Malaysia. In recent years Chelsea, Liverpool and Arsenal have all managed to attract over 80,000 fans for friendly matches in the country.
Kam defended the Tottenham fixture and said Malaysia would benefit from the arrival of fans travelling from around the region to see the north London side.
“The tourists will not just spend on the game, they will spend for the hotel, food and transportation, which is good for the country,” he said.