Tottenham change incoming as £1bn Daniel Levy development nears – but what’s next?
Daniel Levy looks set to sell his 30 per cent shareholding in Tottenham, effectively bringing an end to his quarter-of-a-century ties to the North London club.
Reports emerged earlier this week suggesting a consortium led by US investor Brooklyn Earick and Hong Kong financier Ng Wing-Fai will acquire those shares from Levy.
Earick is a familiar name to Tottenham fans as he tried – and failed – to purchase the Lilywhites last year during a period of turmoil, as did Wing-Fai.
But what exactly is the state of play right now in terms of Levy selling up, and what does it mean for Tottenham going forward?
What is current state of play regarding Daniel Levy and Tottenham?
As if Spurs fans needed reminding, Levy departed as Tottenham chairman in September in an announcement that sent shockwaves through the Premier League.
Levy still has a near 30 per cent shareholding in ENIC, which is said to be worth in the region of one billions pounds.
As per a report from Insideworldfootball on Wednesday, via sources close to the situation, an agreement for Levy to sell up is close and could even be concluded this month.
After both failing to purchase Spurs last year, mega-rich pair Earick and Wing-Fai are now joining forces to form a powerful alliance.
Earick and Wing-Fai are said to have come together after realising their previous plans of simply trying to buy out the Lewis family – even with sums north of £4bn mooted – simply would not work.
Why Brooklyn Earick and Ng Wing-Fai latest is exciting news for Spurs
First and foremost, the pair have money – and an awful lot of it. They are clearly also both extremely determined individuals.
This ploy is not just being done on a whim. It is calculated and shows just how desperate they are to get their hands on Spurs, even if not the entire 100 per cent of it.
It is unclear exactly how much the Lewis Family, who own around 61 per cent of the team, value Tottenham at right now.
Given that previous £4bn offer fell short, it is clear it is in excess of that extraordinary sum of money.
It is worth pointing out that Earick and Wing-Fai cannot make new outright bids for Spurs until early March as they are blocked from making new approaches under takeover rules.
But with this deal to oust Levy seemingly very close, it means two fresh faces – and very rich ones at that – are now on board at the Tottenham Hotspur Stadium.
That, surely, can only be good news for Spurs fans.