Tottenham chief cites Jeff Bezos as world record £3bn takeover possible

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A prominent figure behind the scenes at Tottenham has cited the philosophy of Amazon founder Jeff Bezos when discussing the club’s potential takeover value.

As confirmed by chairman and co-owner Daniel Levy in the club’s most recent set of accounts, Spurs have enlisted the Rothschilds bank to help find new investment.

Both a full or partial takeover of the North London club are possible, with most analysis placing their value at around £3bn.

That would be a world record, eclipsing the £2.5bn Todd Boehly and Clearlake Capital paid for Chelsea in May 2022.

That is testament to the investment in infrastructure sanctioned by ENIC, as well as the club’s continuously strong operating income.

When the time comes for the group to cash in, they will secure a monumental return on their initial investment of £22m over two decades ago.

What value are the owners looking for? A recent interview with Spurs non-executive director Jonathan Turner gives some indication about their long-term strategy.

Spurs director talks about soaring enterprise values in football

The enterprise value of elite football clubs, especially in the Premier League, has skyrocketed in recent years.

Perhaps the most useful example is FSG’s takeover of Liverpool in 2010, which cost the Boston-based group around £300m. The club are now quite easily worth 10 times that sum.

And while value is ultimately subjective, Spurs’ worth to potential investors has likely risen more steeply than most.

Speaking to Business of Sport, Turner discussed rising enterprise values in football and whether we are approaching a plateau.

“I don’t think about the value of teams and we certainly don’t at Spurs,” he claimed.

“We just think about how we can run the business in the best way.

“If you ask Jeff Bezos if he thought about value building at Amazon, he wouldn’t say: ‘Oh, I thought I could build a business worth X.’

“He just wanted to build the biggest business he possibly can. So the answer to your question is that we won’t know until this plays out.

“I think the game will continue to be immensely popular around the world. But they [overseas fans] don’t necessarily have a great way to interact with the top Premier League clubs.

“How do you do that? I think it’s still an open playing field. in terms of what that turns into in terms of value, I have no idea.”

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TBR Analysis: When will a Tottenham takeover happen? Who could buy the club?

Spurs fans have often been frustrated by Leyy’s self-sufficient approach to running Spurs as a business.

But in an era when spending is tied to revenue in terms of PSR (formerly FFP), his conservative style is likely to pay dividends on the pitch soon and perhaps even deliver a long-awaited trophy.

Four parties have been linked with either a full takeover or minority investment in Spurs in recent months, three of whom are financial groups from the US.

Stubbornly high interest rates might delay a sale, however.

Other options include Middle East sovereign wealth funds. Levy has close links to Bahrain, for example, who have not yet made a move in European football.

Paris Saint-Germain owners Qatar Sports Investment have also been linked, although those stories were refuted in some quarters.