A group linked with a takeover of Tottenham have completed a landmark business deal with Newcastle United’s owners, the Saudi Public Investment Fund.
Newcastle became the richest club in the world when they were acquired by PIF in October 2021, although Profit and Sustainability Rules have anchored their ambitions.
Spurs have not had a full change of ownership since the early 2000s, when Joe Lewis and Daniel Levy‘s ENIC Group gained majority control of the club.
However, the most seismic shift behind the scenes could take place in the coming months or years.
Levy revealed in the club’s official accounts for the 2022-23 campaign that he was actively seeking investment in Spurs, although it is not clear whether it would be a full or partial takeover.
The latter seems more likely, and one group to have been linked with such a deal is Liberty Media.
The American company is the richest sports empire in the world – and it is set to expand its reach even further after further formalising its relationship with Newcastle’s PIF paymasters.
Spurs suitors Liberty complete Formula E takeover
As announced by Liberty themselves, the group have acquired a 65 per cent shareholding in motorsport series Formula E.
No value for the deal has been announced, but benchmarking against previous valuations likely means the deal will have been in the region of £710m.
In taking a controlling stake in the racing institution, Liberty have further entrenched their relationship with Newcastle owners PIF, who are the series’ principal sponsor and own a minority stake in it.
The expansion of the Liberty Media empire will be welcomed by Spurs supporters who may be keen to see them diversify risk across their portfolio before investing in the club.
Liberty and Spurs already have an existing relationship through a commercial deal between their Formula One brand and the club, which will see a karting track installed at the North London club’s stadium, as well as other branding tie-ins.
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Who else has been linked with a Spurs takeover?
Liberty are one of four groups or individuals to have been linked with a full or partial takeover of Spurs.
MSP Sports Capital, the group who recently failed in an attempt to buy Everton, did have a concrete interest and conducted due diligence about a full takeover.
However, the US private equity group have formally ended their exploration of the club.
Daniel Levy is known to have a close working relationship with Qatar Sports Investment and European Club Association supremo Nasser Al-Khelaifi.
QSI have also been mooted as a potential new owner, although it would be a complicated deal given UEFA’s clam down on multi-club ownership.
Reports that first emerged in 2022 have since tailed off, but the ongoing crisis with regards to Ligue 1’s lack of a TV deal could tempt QSI into the Premier League market.
The rapper and billionaire businessman Jay-Z has also been linked in US media with a Spurs.
The 54-year-old, who has previously expressed an interest in buying Arsenal and runs a successful sports agency, would likely be part of a consortium if he did formalise his interest.