Football Insider believes that Daniel Levy was offered £800million for a 50% share in ENIC’s football investment, THFC, but the CEO declined the offer made last year, as it would have meant conceding control of the club.
I’d question the valuation used here. If we look at the Swizz Ramble analysis of the club’s debts, then it strikes me as a strange investment for someone to select – even if it were made before Covid-19 broke.
Why on earth would someone punt a sizeable chunk of money on 50% of a business swimming in debt, with a highly questionable economic forecast? It may appear mean-spirited of me, but if ENIC cannot find a sponsor for the stadium naming rights which is supposedly valued at just a couple of hundred million – then why would someone be so keen to spend 4 times as much and yet not even have their name above the door?
If someone were to come in for Spurs, then they would need to fix the football team, as well as be able to lure people to N17. I see this as not being a straightforward prospect.
Should one buy the Albert Hall (for example) then the task is one-dimensional and the business is located in an easy-to-access place. No, I’m sorry, but this Football Insider tale simply doesn’t add up.