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Sugar sells Spurs stake for £25m
  • Tez Arne
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Post Posted: Thu Jun 07, 2007 7:26 pm Reply with quote
Quote:
Sir Alan Sugar has sold his stake in Premier League football club Tottenham Hotspur for £25m ($49.8m) to sports and media group ENIC International.
ENIC already held 54% of the North London football club, and has now increased its holding to 66%.

Spurs' chairman Daniel Levy is the managing director of ENIC.

Although City rules require ENIC to make an offer for the remaining 34% of the club the group said it intended to maintain Spurs' AIM listed status.


The deal values the club at £209.5m.

The sale will go through on 2 July and will end Sir Alan's formal relationship with a club where he was chairman for a decade until 2001.

The board of ENIC said it had increased its stake in Spurs "as a sign of its long-term confidence in the club and to provide ongoing stability to the club".

 
  • Big Jono
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Post Posted: Fri Jun 08, 2007 4:54 pm Reply with quote
Farewell to Sugar, he is by no means a football man but sure got the business side of Spurs running nicely, shame about the crap managers he always installed.

As I see it theres two ways to interpret ENICs move to increase its stake in the club, either

a)They are goin to sell up later this year and want a tidier package to sell ie more of the clubs shares to sell to one party.

b) They are going to invest heavily in the club, like a nes stadium, and dont want that investment lining the pockets of others by increasing the value of their shares

Either way, im happy with the way ENIC is taking the club at the moment so im not too fussed with this.

 
  • yidomatt
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Post Posted: Fri Jun 08, 2007 6:55 pm Reply with quote
Same here. Looks like they are taking the club in the right direction.

 
  • Johaldo8
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Post Posted: Sat Jun 09, 2007 1:52 am Reply with quote
Yeah I agree with you guys; ENIC have been handling the good ship Tottenham very safely up to now, and long may it continue.

Gotta say a big farewell to Sir Alan; he saved our club big time. Very astute businessman, he's totally turned the club around.

 
  • Sparkyjinx
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Post Posted: Sat Jun 09, 2007 10:36 am Reply with quote
Johaldo8 wrote:
Yeah I agree with you guys; ENIC have been handling the good ship Tottenham very safely up to now, and long may it continue.

Gotta say a big farewell to Sir Alan; he saved our club big time. Very astute businessman, he's totally turned the club around.


Yep I agree, despite all the aggro he had with Venables and Co (which I hated him for at the time) he came in at a time when Irving Scholar was looking to possibly sell to Robert Maxwell....its not even worth thinking about what would have happened if he did.

Cheers Big Al...

Sugar sells Spurs stake for £25m
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