BBC Business Future of Business.txt
Tottenham Hotspur 'not for sale' as owner rejects buyout interest.txt
Spurs 'not for sale' as owner rejects buyout interest3 days agoShareSavePeter HoskinsBusiness reporter,bingo mirador BBC NewsShareSaveGetty ImagesThe board of Tottenham Hotspur says its owner has "unequivocally rejected" two expressions of interest in the north London football club and that it is "not for sale". The announcement late on Sunday came after the sudden departure of executive chairman Daniel Levy last week triggered speculation that a takeover bid could be imminent. Tottenham said one approach was from former Newcastle United shareholder Amanda Staveley's PCP International Finance Limited and the other from a consortium led by Dr Roger Kennedy and Wing-Fai Ng through Firehawk Holdings Limited.In a short statement, PCP International Finance said that it did not intend to make an offer for Tottenham.On Sunday, ENIC Sports & Developments Holdings Ltd - which has an almost 87% stake in Tottenham - said it had rejected two separate preliminary expressions of interest in the club."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," it added. Under UK takeover rules, that prevents PCP from returning with an offer for the club over the next six months.The family of UK businessman Joe Lewis own the majority of ENIC, while about 30% is held by Mr Levy and his family.Mr Levy was the Premier League's longest-serving chairman and is estimated to have earned more than ￡50m ($67.5m) during his almost quarter of a century in the role.But he was also the target of regular protests by Spurs fans, especially last season.In a statement last week, Spurs said Mr Levy's exit was "part of the Club's ambition to ensure that it is set up to deliver long-term sporting success".At the same time Mr 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."Levy exits role as Tottenham executive chairmanWhat will be Levy's legacy as his Spurs era ends?Meet the former Arsenal chief who now runs SpursInternational Business
