Tottenham stake acquired in another sweeping change after Daniel Levy decision

Lord Ashcroft's son has acquired a 3.4 per cent stake in Tottenham in the latest change at the north London club.

London Stock Exchange posted a public filing on Monday showing that Andrew Ashcroft, son of former Conservative Party deputy chairman and billionaire donor Michael Ashcroft, purchased 8,023,942 Tottenham shares last Friday. The price, at this point, has not been disclosed but based on recent valuations the shares are expected to have cost around £100million.

Michael Ashcroft - who was appointed as a life peer and given the title Lord Ashcroft in 2000 - is a longstanding Tottenham shareholder who at one stage owned around 4 per cent of the club. Again, it's unclear whether Ashcroft has sold his existing shares to his son, Andrew, or even if the family have almost doubled their stake by purchasing from minority shareholders, who owned 13.42 per cent of Spurs between them.

Tottenham's majority shareholder ENIC has not sold any of its shares and is adamant the club is not for sale, despite Daniel Levy's departure earlier this month. Spurs confirmed on September 4 that Levy has stepped down from his role as Executive Chairman after 25 years in the role.

In a statement at the time, Levy said: "I am incredibly proud of the work I have done together with the executive team and all our employees. We have built this club into a global heavyweight competing at the highest level.

"More than that, we have built a community. I was lucky enough to work with some of the greatest people in this sport, from the team at Lilywhite House and Hotspur Way to all the players and managers over the years.

"I wish to thank all the fans that have supported me over the years. It hasn’t always been an easy journey but significant progress has been made. I will continue to support this club passionately."

Levy has since been replaced by Peter Charrington, a long-time adviser of the Lewis family who own ENIC, as non-executive chairman. Earlier in the summer, Vinai Venkatesham was hired as Chief Executive Officer (CEO), while Thomas Frank arrived as the club's new men's head coach and Martin Ho signed in as women's head coach in a series of sweeping changes across Tottenham ahead of the new season.

After Levy's exit, Tottenham then announced that they had rejected two preliminary expressions of interest in buying the club from Amanda Staveley's PCP Capital Partners and an American/Chinese consortium led by Roger Kennedy and Firehawk Holdings Limited. Due to takeover panel rules, Spurs must remain under the official offer period until October 5, when PCP can make a final formal offer to the club.

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