Tottenham reject £3bn takeover bid from LAMF Global Ventures
By Sean Walsh
Talks between Tottenham and a Los Angeles-based company regarding a potential takeover have broken down.
LAMF Global Ventures, a special purpose acquisition company (SPAC), is looking to take a controlling stake in an elite European football club at some point in 2022, and had their sights set on Spurs.
However, Duncan Castles of the Daily Record reports that negotiations between Tottenham and the Nasdaq-listed investment fund have broken down.
The SPAC pitched their valuation of Spurs to club chairman Daniel Levy recently, but the 60-year-old knocked back the approach.
The Athletic reported earlier this week that Tottenham's top brass would entertain offers for the club, with the Daily Record backing up their claims that Singaporean billionaire Forrest Li had been invited to their Hotspur Way training ground recently.
However, a sticking point in Spurs welcoming outside investment is Levy's unwillingness to re-list the club on the stock market for the first time since 2012.
This would mean that it's highly unlikely that Tottenham will be able to thrash out a deal for outside investment from a SPAC.
LAMF's valuation of Tottenham at £3bn came down to the club's Premier League status, London location and 'balance sheet fundamentals', making them a more lucrative attraction than competitors for investment such as Everton and Milan.