Daniel Levy sells majority of stake in Tottenham’s parent company ENIC, says press release
Former Tottenham Hotspur executive chairman Daniel Levy has agreed to sell the majority of his stake in the club, according to a press release sent out on behalf of the purchasing company Eight Sports Capital Limited.
Levy spent 24 years running Spurs on a day-to-day basis until he was removed from his position in September by the majority shareholders, the Lewis family.
The Lewis family now own 70.12 per cent of ENIC, Tottenham’s parent company, and the remaining 29.88 per cent is owned by Levy through family trusts. In total, ENIC’s stake in Spurs is 87.62 per cent and the rest of the club is owned by minority shareholders. Levy is selling a 24.99 per cent stake in ENIC to Eight Sports Capital Limited, a company registered in the British Virgin Islands.
“We are delighted to have signed this agreement to acquire a significant stake in ENIC,” a spokesperson for Eight Sports Capital Limited said in a press release from Sodali & Co. “We look forward to working with the club’s shareholders, management, staff, players and fans to support Tottenham Hotspur’s continued growth and success.”
Neither Tottenham nor Levy has confirmed the news. The Athletic has approached both for comment.
Spurs’ executive leadership team has been completely transformed in the last 12 months and it is now led by non-executive chairman Peter Charrington alongside chief executive officer Vinai Venkatesham.
In an open letter to supporters last month, Charrington said, “Last September, we recognised that something seismic had to change at Spurs” and that the Lewis family “authorised a full reset.” Charrington went on to add that “as part of that process we discovered some uncomfortable truths” and “football success had not been driving our decisions.”
A few days later, the Lewis family released their own statement and said, “We are not selling the club. We are all in. We are investing in it. You will see more of this in the coming months.” It remains to be seen if the dynamic will change following Eight Sports Capital’s purchase of Levy’s stake.
Spurs finished 17th in the Premier League this season and narrowly avoided relegation. They appointed Roberto De Zerbi as their new head coach in March on a five-year contract after previously parting company with Thomas Frank and Igor Tudor. Spurs reached the last 16 of the Champions League but will not be competing in Europe next season.