A group linked with a takeover of Tottenham have completed a landmark business deal with Newcastle United’s owners, the Saudi Public Investment Fund.
Newcastle became the richest club in the world when they were acquired by PIF in October 2021, although Profit and Sustainability Rules have anchored their ambitions.
Spurs have not had a full change of ownership since the early 2000s, when Joe Lewis and Daniel Levy‘s ENIC Group gained majority control of the club.
However, the most seismic shift behind the scenes could take place in the coming months or years.
Levy revealed in the club’s official accounts for the 2022-23 campaign that he was actively seeking investment in Spurs, although it is not clear whether it would be a full or partial takeover.
The latter seems more likely, and one group to have been linked with such a deal is Liberty Media.
The American company is the richest sports empire in the world – and it is set to expand its reach even further after further formalising its relationship with Newcastle’s PIF paymasters.
Spurs suitors Liberty complete Formula E takeover
As announced by Liberty themselves, the group have acquired a 65 per cent shareholding in motorsport series Formula E.
No value for the deal has been announced, but benchmarking against previous valuations likely means the deal will have been in the region of £710m.
In taking a controlling stake in the racing institution, Liberty have further entrenched their relationship with Newcastle owners PIF, who are the series’ principal sponsor and own a minority stake in it.
The expansion of the Liberty Media empire will be welcomed by Spurs supporters who may be keen to see them diversify risk across their portfolio before investing in the club.
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