Tottenham Hotspur 'not for sale' as board reveal two rejected moves for Premier League giants

Tottenham Hotspur have declared themselves "not for sale" and revealed Sunday night that they have rejected two approaches from consortia to buy the club.

The departure of Daniel Levy from his role as executive chairman on Thursday prompted days of speculation over the future ownership of the club, around 87% of which is owned by investment vehicle ENIC. That company itself predominantly belongs to the Lewis family, who took the surprise decision to dispense with Levy following a review of Spurs' performances on the pitch. Rumors have long swirled over the future ownership of Spurs, with talks having taken place with a Qatari consortium in recent years. Amanda Staveley, former joint-owner of Newcastle United, was also seen at the Tottenham Hotspur Stadium last season and an expression of interest from her was among the two rejected.

CBS Sports reported last week that the dramatic events of recent days were not readying the club for a takeover with sources close to the Lewis family insistent that this change had been made for footballing reasons. That stance was publicly affirmed on Sunday in a statement from Tottenham.

In it, they revealed they had "received, and unequivocally rejected, separate preliminary expressions of interest" from PCP International Finance, Staveley's company, and a consortium of investors led by Dr. Roger Kennedy and Wing-Fai Ng. The statement said: "The board of the club and ENIC confirm that Tottenham Hotspur is not for sale and ENIC has no intention to accept any such offer to acquire its interest in the club."

Both interested parties now have until 12 p.m. ET on Oct. 5 to announce whether or not they intend to make an offer for Tottenham. This requirement comes from the UK Takeover Code, which is in effect as 13% of the club's shares -- those not owned by ENIC -- are publicly traded. Should an offer not be forthcoming, then takeover rules mean they cannot return with an offer until six months have passed.

Staveley left Newcastle in July 2024, having played a crucial role in the takeover of the club by Saudi Arabia's Public Investment Fund in 2021. Ng has extensive experience in the finance industry across Asia.