A U.S. investment group backed by Guggenheim Capital is "weighing up a bid" for Tottenham Hotspur -- "in the latest American foray into the English Premier League," according to Massoudi & Blitz of the FINANCIAL TIMES. A statement from Cain Hoy Enterprises said that it was "at the preliminary stages of assessing a cash offer for Tottenham Hotspur" and that, under U.K. takeover rules, it had until Oct. 10 to make a firm bid. According to a person "familiar with the situation, Cain Hoy held preliminary discussions with the club this month about a possible deal." Tottenham -- which has "appointed Rothschild to seek financing for a new 52,000-seat stadium" -- said that it was "not in takeover discussions with Cain Hoy or any other party." The club added that it had "met Cain Hoy representatives among a number of other investment groups to discuss stadium financing options" (FT, 9/14).
OCT. 10 DEADLINE: In N.Y., Razak Musah Baba reported Cain Hoy's founders include Guggenheim President Todd Boehly and former Guggenheim employees Henry Silverman and Jonathan Goldstein. According to U.K. "takeovers rules, Cain Hoy must, by no later" than 4pm on Oct. 10, "either announce a firm intention to make an offer for Tottenham Hotspur or announce that it doesn't intend to make an offer" (WALL STREET JOURNAL, 9/12). In London, Matt Law reported Tottenham Owner Joe Lewis reportedly values the club, "together with the new stadium development," at just less than £1B ($1.6B). Cain Hoy was formed with the support of -- and a "minority, non-controlling investment from -- Guggenheim." But Guggenheim is "not behind the approach to buy Tottenham." Although it is 77-year-old Lewis who owns Spurs, "several sources" said that "interested parties in a takeover are being informed they will have to deal with" Tottenham Chair Daniel Levy. He would be "keen to stay on as part of any takeover." It is "not known how much Cain Hoy is willing to spend on Tottenham or whether it would be prepared to keep Levy on." A takeover would be "welcomed by a large number of Tottenham fans, who have grown frustrated with Levy's football decisions and negotiations, and the delays to the new stadium" (TELEGRAPH, 9/12).
