Monday, 10 July 2017

Tottenham Deny Mark Zuckerberg Takeover Rumours

Premier League football club Tottenham Hotspur has moved to deny a report that it is in takeover talks with a group involving Mark Zuckerberg, owner of social media platform Facebook.

The Sunday Times newspaper reported that Iconiq Capital, a San Francisco fund that handles the wealth of a number of Silicon Valley billionaires, including Zuckerberg, is interested in the club and is readying a £1bn (€1.13bn/$1.29bn) offer.



The North London club has enjoyed success on the pitch in recent years and last season finished second in the Premier League to qualify for the Uefa Champions League. Tottenham is also in the process of building a new state-of-the-art, 61,500-seat stadium, which is due to be ready in time for the 2018-19 season.

Yesterday (Sunday), the club sought to quell speculation of a potential takeover by issuing a statement that insisted its board is not in any discussions with a prospective buyer.

The statement read: “The club engaged Rothschild to secure the funding for the new stadium. As expected many proposals came forward including bank debt and equity investment. The club announced on 31 May 2017 the completion of the bank debt financing for the new stadium with a consortium of banks involving Bank of America Merrill Lynch International Limited, Goldman Sachs Bank USA and HSBC Bank plc.

“The board believes this was the optimum solution in the interests of fans, employees and shareholders and for the continued development of the club. The board is not in any discussions relating to a takeover offer for the club.”

Investment vehicle ENIC currently owns 85.55 per cent of the club.

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