Soccer

Investment group pulls plug on potential Tottenham takeover

Cain Hoy ‘is no longer considering making an offer’ for Spurs , valued at over €1bn by owner

An aerial view of Tottenham Hotspur’s ground White Hart Lane . Photograph: Chris Ison/PA Wire
An aerial view of Tottenham Hotspur’s ground White Hart Lane . Photograph: Chris Ison/PA Wire
Thu Sept 25 2014 - 12:42

The potential takeover of Tottenham Hotspur by an investment group from the United States has been called off.

Cain Hoy Enterprises said it had "terminated its assessment and accordingly is no longer considering making an offer for Tottenham Hotspur".

The group said two weeks ago that it was in the “preliminary stages” of assessing a cash offer for Spurs though the club was insistent it was not entertaining any bids.

"There are no ongoing discussions with Cain Hoy. The club is focused on the new stadium development and the season ahead," Spurs, said to be valued at £1bn by their owner Joe Lewis, emphasised at the time.

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Cain released a statement on Thursday saying: "On 12 September 2014, having previously approached Tottenham Hotspur with a proposal, Cain Hoy Enterprises, LLC ("Cain Hoy") confirmed that it was at the preliminary stages of assessing a cash offer for Tottenham Hotspur.

“Cain Hoy has subsequently terminated its assessment and accordingly is no longer considering making an offer for Tottenham Hotspur.”

Guardian Service