That is just as well, as Daniel Levy is looking for a new minority partner at Spurs and has commissioned the Rothschild bank to canvass the market for fresh investment.
Amanda Staveley, the former Newcastle United supremo and broker for the rich and powerful in the Middle East, is one possible option.
Via her PCP Capital Partners investment vehicle, Staveley has raised £500m and is looking at Tottenham.
TBR Football understands Staveley’s consortium counts investors from the Middle East among its members but not royals from any of the major Gulf nations, à la Newcastle or Manchester City.
Meanwhile, Ange Postecoglou’s Spurs side have won one of their last eight and those persistent questions about the ambitions of Levy and ENIC, the club’s major shareholders persist.
Among those who voice their frustrations was Cristiano Romero, who criticised the North London club’s lack of investment and culture, suggesting it is “always the same people responsible.”
Incidentally, speaking ahead of Spurs’ draw with Rangers at Ibrox last night, Postecoglou said there will be no reprisal for Romero from the board or management in N17 for his remarks.
Over the years, numerous groups and individuals have been linked with taking over Tottenham, increasing spending, and inspiring the club to challenge for titles once more.
It has been the football finance industry’s worst kept secret for several years that the club are open to investment, with a minority deal and full takeover both on the table.
The likes of Liberty Media, the sports empire behind Formula One, have been suggested as potential suitors, while sources have TBR that MSP Sports Capital have also previously held an interest.
One name, however, has arguably stood out against the rest.
Sheikh Jassim advisor clarifies takeover intentions after Spurs link
The mysterious Sheikh Jassim bin Hamad Al Thani was one of a handful of parties to submit a full takeover offer worth around £5bn for Manchester United.
Ultimately, the Glazers rejected the Qatari banker and royal’s advances in favour of a £1.2bn minority deal from Sir Jim Ratcliffe instead.
Sheikh Jassim was subsequently linked with a deal to buy Spurs, who Levy values at around £3.75bn.
It was not the first time that the North Londoners had been earmarked as a potential subject of Qatari investment. Paris Saint-Germain’s owners Qatar Sports Investments, have also been mentioned.
This week, fresh detail has emerged about Sheikh Jassim’s interest in the Premier League.
As reported by the Daily Mail, Jassim has entirely given up hope of one day buying Man United. But does that mean a takeover of Spurs is out of the question?
Yes, according to an anonymous advisor quoted in the piece, who said: “He [Jassim] is still a United fan. He is not going to rush off and try another Premier League club.
“If the opportunity to buy the whole of Manchester United arose again at some point in the future it is hard to see there not being a big level of interest. The plans are still there.”
So it looks like Spurs hopes of blasting hundreds of millions worth of petrodollars in the transfer market are on ice for the time being.
But could a new minority partner in Amanda Staveley cajole the Levy-ENIC regime to increase their spending in line with their pees in the so-called Big Six?
The cash injection, Levy says, would go towards infrastructure projects – probably the hotel they are building at the Tottenham Hotspur Stadium – and investing in the men’s and women’s teams.
However, there would be no obligation for Levy or ENIC to redirect funds into the club at all if it is a transfer between themselves and an external party as opposed to a new share issue.
In either case, it is unlikely that a minority investment of around 10-20 per cent would lead to a dramatic upswing in spending. At least, not in the immediate term.
If Spurs are in real danger of slipping away from their rivals and, most crucially, losing their status as semi-regulars in the extraordinarily lucrative Champions League, they will have to open their wallets.
Tottenham have built a ‘brand’ and a mature commercial strategy that can withstand a lot, true.
But they need to be at least slightly competitive at the top end of the Premier League if Levy and ENIC’s capital appreciation plan (buy low, sell high) is going to attract the return on investment they crave.
