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A new report has suggested that Daniel Levy could relinquish his stake in Tottenham’s majority shareholders, ENIC, for a lower fee than initially reported.
Despite departing from his role as Tottenham chairman last summer after nearly a quarter of a century at the helm, Levy is still linked to Spurs through his stake in ENIC.
The former Spurs chairman owns 29.88 per cent share in ENIC, the 86.91 per cent majority stakeholder in the North London club.
It emerged last week that Levy is in talks with a consortium over selling his share in ENIC for a fee in the region of £1 billion.
Former Tottenham chairman Daniel Levy may have to settle for less than £1 billion
Over the last couple of days, some sources have questioned the £1 billion valuation of Levy’s shares in ENIC, pointing out that buying them out will not come with any voting rights at Tottenham or a place on the club’s board.
Football Insider have now claimed to have heard from sources that Levy’s shares are worth closer to around £800m.
They say that the speculative £1 billion figure may be wide of the mark, given the lack of power that comes with buying out the 63-year-old’s stake in ENIC.
The report concludes that Levy’s shares are thus more valuable to the Lewis family than any outside investors at this moment in time.
This update comes on the back of reports suggesting that the Lewis family could buy out Levy’s stake in ENIC themselves if they are not happy with the buyer found by the former Spurs supremo.
However, the Lewis family will ultimately have no power in dictating to whom the 63-year-old sells his share in ENIC.
According to The Telegraph, Tottenham’s majority owners do not have any first refusal or matching rights on Levy’s stake in ENIC, with the former Spurs chairman free to agree a deal with whoever he pleases.
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