Report: Man United are ‘envious’ of one part of Tottenham’s business model
According to a report in the Independent, the hierarchy at Manchester United are envious of the revenue Tottenham Hotspur make from their new stadium. Manchester United are currently the subject of interest from Qatar state investors (QSI) regarding a possible takeover as the Glazer family look to sell the club. However, questions have been raised […]
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According to a report in the Independent, the hierarchy at Manchester United are envious of the revenue Tottenham Hotspur make from their new stadium.
Manchester United are currently the subject of interest from Qatar state investors (QSI) regarding a possible takeover as the Glazer family look to sell the club.
(Photo by Tottenham Hotspur FC/Tottenham Hotspur FC via Getty Images)
However, questions have been raised about the family’s intentions amid what has been called a “fishing expedition”, an exercise in simply testing the waters.
It is thought the Raine Group, those charged with selling the club on behalf of the Glazers, are looking for £5 billion for the takeover. However, it’s expected that any offers that come later this week may fall as far as 30% short of this valuation.
Tottenham Hotspur themselves are currently being circled by a consortium led by Iranian-American businessman Jahm Najafi (Financial Times). Similarly, it is thought this interest will be fruitless, with Najafi’s reported offer of £3.1 billion not meeting ENIC and Joe Lewis’ valuation of the club.
The QSI group had previously been linked to Spurs, too, with The Athletic reporting that the Qatari operation were keen to secure a minority share in the North London club.
As part of the report detailing Manchester United’s prospective sale, it has emerged that those involved in the club have been looking on with envious eyes at how profitable Tottenham Hotspur has become since building their new stadium.
The report claims one stumbling block for the sale of Manchester United lies in “the necessity of investing around £1 billion in Old Trafford, in order to commercialise the club to the extent it should.”
It adds, “Relevant figures within the club have enviously noted just how much revenue Tottenham Hotspur receive from their new stadium.”
Spurs Web Opinion
One criticism you cannot level at ENIC and Daniel Levy is just how successfully they run Tottenham Hotspur as a business. The new stadium is a world-class venue, and by the looks of the annual financial results last week, the club is on the up commercially.
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The post Report: Man United are ‘envious’ of one part of Tottenham’s business model appeared first on Spurs Web - Tottenham Hotspur Football News.