Tottenham Hotspur have hit snag after snag in its effort to replace the aging and small White Hart Lane, so much so that recent reports indicate the team’s owner, Joe Lewis, is willing to sell the team for an estimated £1 billion.
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On Thursday, The Telegraph in the UK reported that the sale could be happening faster than originally thought, as they indicate United States private equity firm Cain Hoy are in negotiations to buy the club.
That report became confirmed on Friday, with Cain Hoy issuing a statement on behalf of the businessmen they are acting as agents for. They issued the following statement according to The Telegraph.
“Cain Hoy confirms that it is at the preliminary stages of assessing a cash offer for Tottenham Hotspur. Cain Hoy’s considerations are at an early stage, and there can be no certainty that any offer will ultimately be made or at what price any offer might be made.”
The businessmen allegedly interested in purchasing the team are part of the Cain Hoy family, with its London-born and based head of European investment, Jonathan Goldstein, and American entrepreneur and private equity investor Henry Silverman at the front of the group looking to buy the club.
However, Tottenham Hotspur are singing a very different tune in regards to the acquisition of the team by Cain Hoy. Instead, the club is insisting any and all talks are about securing the financing for the new White Hart Lane.
"“As stated in yesterday’s announcement regarding the new stadium project, THFC has been in discussions with multiple providers of finance so that the optimum financing package for the project can be achieved and, in the course of those considerations, has met representatives of Cain Hoy. However, there are no ongoing discussions with Cain Hoy.”"
So, who to believe in this case? Considering the years of rumors and sales of clubs all over the world, the Tottenham statement rings of the hundreds of others released just before a sale became complete or imminent. A sale of Spurs to Cain Hoy could help in getting the stadium effort to the finish line, a finish line that has moved further and further back over the last few years.