Tottenham Hotspur have revealed a statement illustrating the amount of shares in the club’s portfolio. The north London club announced, “In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the “Code”), THFC confirms that, as at the close of business on 12 September 2014, it had 213,102,209 ordinary shares of 5 pence each in issue.”
The statement coincides with news that American investment firm Cain Hoy is considering making an offer to purchase the Premier League club. The Connecticut-based firm released a statement on the issue of a bid last Friday, saying that the company is “at the preliminary stages of assessing a cash offer (for Tottenham).”
Just last week, Spurs released an official statement denying suggestions that the club would listen to any offers from potential buyers. The statement read, “Neither the club, nor its majority shareholder, are in any takeover discussions with Cain Hoy or any other party.”
The statement continued to read, “As stated in yesterday’s announcement regarding the new stadium project, THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy. The club is focused on the new stadium development and the season ahead.”
As mentioned in the statement, Spurs have to make a decision on where to play their home matches for the 2017-18 season, as construction delays have derailed ideas of moving to a new stadium in three years’ time. The club will be forced to leave their current stadium, White Hart Lane, ahead of any construction on their new stadium (as the new complex will be built adjacent to White Hart Lane).
Suggestions have recently surfaced about Spurs temporarily moving into Wembley Stadium, or even sharing a stadium with West Ham United (at that time will be Olympic Stadium), MK Dons, or even with bitter rivals Arsenal (something that will never happen).
Spurs manager Mauricio Pochettino recently called sharing a stadium with League One’s MK Dons a “possibility”. The Argentinian manager spoke on the issue, saying, “Yes, I was in Milton Keynes to watch the game with Manchester United in the Capital One Cup. It was the first time I had been there. It is a very good stadium with very good facilities but nothing more – it’s a possibility.”
The stadium issue could very well affect any potential bid from Cain Hoy, or anyone else for that matter. The American firm has until October 10th to make a decision on a bid for the club. Current Spurs owner Joe Lewis has reportedly smacked a $1.6 billion price tag on the Premier League team. Lewis’ company, ENIC International Ltd, reportedly paid around $35 million for a controlling stake in the London-based club back in 2001.
