By Senad Karaahmetovic
While the press continues to speculate on who will become the new owner of the legendary football club Manchester United (NYSE:MANU), it appears that other top English Premier League clubs are also attracting investor attention.
The PL arms race was started after Russian tycoon Roman Abramovich was forced to sell Chelsea Football Club. A consortium led by Los Angeles Dodgers part-owner Todd Boehly completed the takeover in May 2022 in a multi-billion-dollar deal, bringing an end to Roman Abramovich’s 19-year ownership.
A couple of months later, it was reported that U.S.-based Fenway Sports Group (FSG) has put Liverpool up for sale. Just two weeks later, Liverpool’s biggest rival and arguably the biggest club in the country - Manchester United - was up for sale as well.
Recent press reports noted that investors linked to Qatar state are expected to bid for MANU with any deal expected to easily exceed $5 billion. Today, reports emerged that Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, will bid $3.75B for London-based Tottenham Hotspur. The Financial Times first reported on Najafi’s intentions.
According to the report, Tottenham is valued at $3B, in addition to $750 million of debt on the club’s books. The club opened its state-of-the-art new stadium in 2019.
FT reported that MSP intends to cover 70% of the bid while 30% will come from Gulf investors, mainly from Abu Dhabi.