Cain Hoy say 'No'.

[davidmatzdorf]

The article is absolute horseshit. Read it carefully and there is no content there, just a name and some ungrounded conclusions.

The Telegraph wrote it before the club issued a formal denial and then, rather than retracting it, they tagged the first line on top, without even bothering to change (i.e., correct) the article.

The club is speaking to multiple potential sources of lending, including, in all probability, equity investors, for the stadium. That has nothing whatsoever to do with a 'takeover'; it is inward investment to make the stadium viable with the lowest possible financing costs. Businesses seeking to expand speak to equity investors and lenders all the time. That doesn't mean that they are imminently going to sell the business. It just means that they are trying to raise money for the expansion project, in this case the NDP.

Having invested an 8-figure sum in the stadium, the first obvious time for ENIC to sell up was when we obtained planning consent, because that added the maximum value to the asset for the minimum investment.

Having invested a second 8-figure sum to proceed through the detailed design, obtain finance and get phase 1 built, the second obvious time to sell up will be when the stadium has been completed.

Not now, because they have invested more money without adding further value yet.

 

[fortworthspur]

Investment bank takeover would be bloody awful. Really anything short of a single majority owner who wants nothing more than to collect trophies is going to be a step down from ENIC.

I wonder if Levy could cobble together enough money to lead a buyout...

not being a smart ass, but ENIC and Cain Hoy are both investment companies focused on media among other things.

 

[Flashspur]

private equity...that says it all....if these ***** buy us, we are fucked

Looks like Cain Hoy are doing the work for the private equity buyers...there are a number of private equity players out there obviously but sports teams haven't always been an attractive proposition.

 

[DaSpurs]

Shocking some would prefer the uber rich Arab playboy route. There is no glory in the middle of those trophies, only oil.

I'm very reserved with any takeover, and especially with my fellow Americans as we've seen them take clubs either direction from their statuses upon arriving. My hopes are not high, but I'd feel much more comfortable if Levy remained in charge. Hoping altogether there is just a bullshit story.

 

[yankspurs]

A few things:
1. Cain Hoy was just formally introduced into the marketplace today.
2. The article states that Cain Hoy is representing a group of American buyers.
3. Cain Hoy was launched with help from Guggenheim.

I know what the article says that Guggenheim arent believed to be behind this, but after some googling, I believe they are...IF(and that is a big IF) there is anything to this. Here is why...

Guggenheim has been venturing into sports to expand its portfolio. They were the group that purchased the Los Angeles Dodgers (Rivalling their bid was Stan Kroenke, Arsenal's owner). They were believed to have pursued buying the LA Clippers. They were in discussions to buy AEG from Anschutz(remember, the last takeover rumors with us was with AEG being the potential buyer). They have also recently purchased a WNBA team.

 

[EastLondonYid]

I don't think all american are as bad as Glazer. John W Henry has done a great job for Liverpool, as well as those American owners in Roma.

How long you been supporting Spurs? ..knowing our luck we will get the worse Yank around, we are no ordinary club, just look at the farce with the new stadium, which other club has had the problems we have? ...
I just want a stupidly rich arab whose dream is to win the CL please......or stick with what we've got.

 

[Mustard]

I think the word is out that Uncle wants to off Spurs.

Expect a few more of these stories to come out. Whether he gets his billion is another matter but I suspect its only a matter of time before he sells now.

 

[Shea]

I'd rather we sold to a mega rich billionaire who wants us as his toy, like Chelsea or Man City.

I would love that - if they could turn us into a league and CL winning team with their money

However, now they FFP rules are in place have we not missed the boat on that?

 

[jurgen]

How long you been supporting Spurs? ..knowing our luck we will get the worse Yank around, we are no ordinary club, just look at the farce with the new stadium, which other club has had the problems we have? ...
I just want a stupid rich arab whose dream is to win the CL please......or stick with what we've got.

Even in your second scenario we'd get the rich Arab guy who insists on picking the team and playing himself as the starting striker every week..

 

[teok]

I'm pretty nervous about this. It seems we have a lot to lose and with ffp little to gain.

 

[JohanTheYid]

I'm pretty nervous about this. It seems we have a lot to lose and with with ffp little to gain.

Exactly this , better the devil you know for me, the days of the Sheikh taking over and blowing billions to turn us into title contenders are gone. For us, slowly slowly catchy monkey is the only viable way to make this work, the stadium is crucial, as is making sure we arent hamstrung while building it.

If we can keep where we are until the stadium debt is cleared, then we have a shot at making something happen imo

 

[ItsBoris]

The owners names are Goldstein and Silverman.

That's either a hilarious coincidence or totally made up rubbish.

 

[phil]

We all know that ENIC will sell at some point; the only question is when. Joe Lewis is 77; do we know who inherits the club if he dies? Does his wife or daughter have the same interest in owning a football club?

I would prefer that we had owners that were around for the long term and did not rely on the health of an elderly investor.

 

[Francis Gibbs]

be interested to see how this develops with more detail - no one can make any judgement call at this point as we dont know who the group are and how deep their pockets are and what they will commit to the club.

 

[Francis Gibbs]

We all know that ENIC will sell at some point; the only question is when. Joe Lewis is 77; do we know who inherits the club if he dies? Does his wife or daughter have the same interest in owning a football club?

I would prefer that we had owners that were around for the long term and did not rely on the health of an elderly investor.

agree, but at least, reading between the lines, its pretty clear that owner has realised he has taken the club as far as he can - as many fans with insight have seen for years.

 

[RickyVilla]

Jimbo and Francis will be cracking open the Lambrini this morning with this news. You might finally get what you want fellas and I will expect nothing but positive posts from now on!

 

[jordanshl]

It's official! Takeover bid launched by Cain Hoy
http://www.ft.com/fastft

 

[RickyVilla]

It's official! Takeover bid launched by Cain Hoy
http://www.ft.com/fastft

Says it is only available to subscribers mate.

 

[Francis Gibbs]

Jimbo and Francis will be cracking open the Lambrini this morning with this news. You might finally get what you want fellas and I will expect nothing but positive posts from now on!

....... I cant lie I will glad when ENIC and Levy are gone and when they do it will be with my thanks for doing what
they did at a certain period of time in our history. But the world moves on and its time for a more 'substantive' owner but certainly we need to be careful of an 'out of the frying pan into the fire' type of situation.

wont be be putting my laurent perrier rose on ice just yet ......

 

[crokey]

Does this delay the stadium? Is everything in THFC name or does anything belong to ENIC that we would have to reapply for under a different owner?