Tottenham Hotspur could potentially be sold for more than Chelsea when the time comes for Daniel Levy to sell the north London club, football finance expert Kieran Maguire has claimed.
The Lowdown: Chelsea’s current sale
Six prospective buyers have made Chelsea’s shortlist as Roman Abramovich attempts to come to an agreement over the sale of the west London club, following the sanctions imposed on Russian oligarchs by the UK government.
The Daily Mail recently reported that Levy is concerned over Tottenham’s future valuation if the Blues are forced into selling for a knockdown price.
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The Latest: Maguire’s claim
However, Maguire has claimed that Abramovich’s sale could actually have the opposite effect on Tottenham. Speaking with Football Insider, he said:
“The reason it would have a knock-on effect is because of transaction comparables.
“So if Chelsea goes for £3bn, you ask what do Spurs have that Chelsea haven’t? They’ve got a multi-function stadium, but they don’t have trophies.
“You use Chelsea as your base level and start to add beneficial or detrimental factors to determine the price.
“But, in my view, if Chelsea go for £3bn, that is absolutely fantastic for Spurs.
“If you are benchmarking against Chelsea, Levy can say they have got a bigger, more modern ground, some of the best training facilities on the planet.
“All they need now is perhaps a different strategy with regards to recruitment and retention. But Spurs have got better wage control.
“In 2020, they generated £41m more in matchday than Chelsea, and that was in a curtailed season. In a full season I’d expect it to be closer to £50m.”
The Verdict: Takeover seems distant
The Athletic have previously reported that Tottenham have effectively been for sale for the past few years, as Levy has been more than willing to listen to offers given that “he is building [the club] to sell it”.
However, the ENIC group are yet to receive any offers which come close to meeting their valuation, so they are more than happy to wait until such time that they get one which is to their satisfaction.
Levy could have a clearer picture regarding a future Tottenham takeover whenever Abramovich’s sale of Chelsea goes through. Until then, the Spurs chief will be waiting in angst on events in west London.
In other news: Tottenham begin talks with this transfer target