Tottenham have just struck off-pitch deal that could add £200m to takeover price

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Tottenham have just struck a new commercial deal that could have a big impact on their value to would-be investors.

Chairman and co-owner Daniel Levy announced earlier this year that he was seeking new investment in the club, enlisting the Rothschild bank to survey the market.

Four groups have been linked with a deal so far, with differing degrees of plausibility.

And while it is not clear whether this would be in the form of a full or partial takeover, finance expert Kieran Maguire has told TBR that both options are likely on the table.

Most analysis puts Spurs’ enterprise value at somewhere between £2bn and £3bn.

And the latest news from behind the scenes in North London could indicate that figure may be about to climb even higher.

New Spurs sponsor could unlock lucrative new market

Tottenham announced on Tuesday (16 July) that they had partnered with crypto and Web3 company Kraken, who will become their new shirt sleeve partner.

While the industries are considered controversial in some quarters, crypto and Web3 are also said by some analysts to be the next big revenue driver in sports sponsorship.

More broadly, the digital experience is an area that could create huge wealth for clubs who, like Spurs, are looking to monetise their ballooning overseas support.

A report from football business experts CLV Group, for example, has found that Spurs could tap into an extra £28m from digital experiences.

That in turn could add £150-200m onto Spurs’ enterprise value.

The Kraken deal itself is believed to be worth in the region of £10m, roughly equivalent to their previous deal with used car retailer Cinch.

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TBR Analysis: Who will buy Tottenham? When might a takeover happen?

Middle East sovereign wealth funds, private equity groups and financial institutions are invariably linked whenever a high-end Premier League clubs is for sale in the modern era.

Spurs tick all the right boxes in terms of their geography, their commercial appeal, and their growing international fanbase.

The profile of investors we have seen linked so far includes MSP Sports Capital and Liberty Media, two major financial institutions who already have a foothold in football and other sports.

However, a full takeover is contingent on Daniel Levy and his long-term ambitions at the club. Whether he would fully exit the club is up for debate.

Theoretically, it could be that the 62-year-old stays as a minority investor but with a high degree of influence, à la Sir Jim Ratcliffe at Man United.