English Premiership

US firm ponders Spurs bid

2014-09-13 08:27
Spurs logo (File)

London - American investment firm Cain Hoy said on Friday they were contemplating a bid to buy Tottenham Hotspur football club.

The English Premier League club had rejected suggestions on Thursday that their Bahamas-based owner Joe Lewis would sell the north London side if offered in the region of £1 billion.

But Cain Hoy said Friday they were in the initial stages of preparing a bid, which they emphasised had taken place without the consent of the Tottenham hierarchy.

They now have until October 10 under English takeover rules to make a formal offer or announce they are no longer interested in purchasing Spurs

"Cain Hoy confirms that it is at the preliminary stages of assessing a cash offer for Tottenham Hotspur," said a statement.

"Cain Hoy's considerations are at an early stage, and there can be no certainty that any offer will ultimately be made or at what price any offer might be made."

The statement added: "This announcement has been made without the consent of Tottenham Hotspur. A further announcement will be made in due course."

Spurs responded by saying they had not engaged in a takeover talks with any potential buyers but added they had met with Cain Hoy regarding possible financing for their planned new stadium.

"THFC (Tottenham Hotspur Football Club) confirms it is not in takeover discussions with Cain Hoy or any other party," the club's statement said.

"As stated in yesterday's (Thursday'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."

Spurs said Wednesday they will have to leave their ground for a season after a legal challenge caused a delay in the construction of their new stadium, which is to be sited next to their existing White Hart Lane home.

Wembley, England's national stadium in north London, and Stadium Mk home of third-tier Milton Keynes Dons, are both being considered as a potential temporary bases for Spurs during the club's exile from White Hart Lane.

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