American investment firm considering Spurs bid
By Martyn Herman
LONDON (Reuters) - Tottenham Hotspur said on Friday they have met representatives of U.S. private investment company Cain Hoy Enterprises but were not in discussions over a possible takeover.
Cain Hoy earlier issued a statement saying it was considering making an offer for the Premier League club.
London-based Spurs, currently trying to finance a 400 million pounds ($649.76 million) new stadium project, said they met various parties regarding financing a new stadium to be built adjacent to their current White Hart Lane ground.
"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," a statement read.
"However, there are no ongoing discussions with Cain Hoy."
On Thursday, Tottenham denied that self-made billionaire Joe Lewis was seeking to sell the club, although Cain Hoy's announcement on Friday fuelled speculation.
"Cain Hoy confirms that it is at the preliminary stages of assessing a cash offer for Tottenham Hotspur," a statement from the newly-formed investment group said.
"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."
Twice English champions, Spurs have hired investment bank Rothschild to advise on the options to finance their planned move to a new 58,000-capacity stadium next to their current White Hart Lane ground.
The club has traditionally been one of the big names in the English game but with a 36,000-seater capacity stadium has struggled to generate the revenue needed to compete with London rivals Chelsea and Arsenal as well as Manchester City, Manchester United and Liverpool.
A new stadium, planned to be adjacent to the current one, would help, although problems with the planning and financing mean it is unlikely it would be ready for the 2017-18 season, meaning thy would have to find a temporary home for a year.
Lewis bought a controlling stake in Tottenham from Alan Sugar in 2001 via his company ENIC International Ltd.
Several Premier league clubs are U.S. owned, including Manchester United, Aston Villa, Arsenal and Liverpool.
Tottenham finished sixth in the Premier League last season and have only qualified for the lucrative Champions League once, reaching the quarter-finals in the 2010-11 season.
(Reporting by Martyn Herman; editing by Ken Ferris)
