Simon Jordan has revealed he’s been told about that £3bn wouldn’t get potential new owners anywhere near Tottenham Hotspur’s apparent valuation.
The Lowdown: Takeover talk is rife
News emerged earlier this week that Iranian-American billionaire Jahm Najafi was readying a bid for Spurs that could have been as big as £3.1bn, which shouldn’t be a surprise given the new stadium they have on their hands.
However, nothing has yet materialised, so as things stand, ENIC still control Tottenham, while their approach to footballing matters and transfers is very unlikely to change.
That may well remain the case for the foreseeable future unless Najafi can offer the Spurs owner more than the reported £3.1bn that seemingly wouldn’t even get him ‘in the side door’ at Tottenham, according to Jordan.
The Latest: Spurs are valued at more than £3 billion
Jordan was asked on TalkSport if he had heard anything about the potential takeover of Spurs, to which he gave a pretty damning view of Najafi’s potential offer.
He said: “Quote-unquote, ‘this wouldn’t get them in the side door.'”
After that bombshell, Jordan was then asked by host Jim White if he believed what people were telling him about Spurs’ stance on wanting far more than the reported £3bn, to which he responded:
“I think everybody has their price. I think there’s an underlying scenario with Daniel [Levy] that there’s lots more to do, and this is the beginning of something – not the end of it.
“Now, if someone wants to come in and break their shoulder off with a ridiculous offer – I mean, I think £3bn’s pretty compelling – I sort of assume that £3bn minus any debt was going to be the position that they might [take].
“I assumed that was £3bn net, but even that doesn’t seem to be particularly falling on fertile ground.
“I think they feel there’s lots more to do. Now, people will say what’s that, then? Retail enabling, building hotels? I don’t know, I can’t speak for that, that’s for Tottenham to speak to it. But there is no traction in this.”
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The Verdict: ENIC seemingly not willing sellers
It’s no surprise that ENIC are thought to want a mammoth bid to come in for them to even contemplate selling Spurs, as they may have an eye on how much Manchester United and Liverpool are sold for before they commit to a valuation.
Also, the fact that they have some world-class people in the building in the form of Antonio Conte, Harry Kane and Son Heung-min could really help propel the club forward with a few more tweaks.
ENIC had to shell out £22m to Sir Alan Sugar back in 2000 to obtain a majority stake in Tottenham, so if they could now sell the club on for more than £3bn, it would be a crazy return on their investment. However, it appears that is simply not enough for them to part ways.