Daniel Levy has learned that Tottenham could be sold for "three quarters of Manchester United" if ENIC chooses to leave north London.
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Spurs could have new ownersLevy remains open to selling the clubHigh debts remain a stumbling blockFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
Levy, who has overseen Spurs as chairman for over two decades under the ownership of ENIC, could soon draw the curtain on his 24-year tenure if the right offer comes in, as revealed by The north London club has just secured Champions League football for next season, and a potential change in ownership cannot be ruled out.
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Spurs are expected to generate approximately £600 million ($807m) in revenue for the 2025–26 season, a figure buoyed by their Champions League qualification. Industry standards suggest a football club’s valuation typically falls between five to six times its annual revenue. Using this model, Spurs’ enterprise value is projected between £3 billion ($4bn) and £3.6bn ($4.85bn). However, when factoring in the club’s £900m ($1.2bn) debt, largely stemming from the construction of their new stadium, the net valuation ranges between £2.1bn ($2.82bn) and £2.7bn ($3.63bn).
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To place that figure into perspective, Manchester United was recently valued at £4.5bn ($6bn) during Sir Jim Ratcliffe’s acquisition of a 27.7 per cent stake for £1.25bn ($1.68bn). Based on this, Tottenham’s current market value would be around three-quarters of United’s valuation. When Chelsea were sold in 2022 for £2.5bn ($3.36bn), their valuation was dampened by the urgency of Roman Abramovich’s forced exit and the stadium limitations at Stamford Bridge.
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Given all the factors, stadium infrastructure, revenue growth, Champions League football, and London appeal, it’s widely believed that any ownership bid would need to exceed £2.5 billion just to be seriously considered. This figure excludes Spurs' debt obligations, which would need to be settled separately. If Tottenham were to receive such an offer, it would mark one of the most significant deals in Premier League history.
